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4,000,000 stems were sold that week. During the week of June 5-11, the rose market cleared at a price of $0.20 per stem and 3,800,000 roses were sold. From this information what would you conclude about the price elasticity of supply in the rose market?
Price Elasticity of Demand and Price Elasticity of Supply at the equilibrium point.
Using this demand function, find the total revenue function. What is the shape of the total revenue function.
In 1976 independent Texaco retailers file suit against Texaco. In 1990, the Supreme Court of the United States found that Texaco had indeed violated antitrust law. Illustrate which law do you think Texaco was found guilty of violating.
Elucidate effect does the current supply and current demand have on this product.
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
Changes in disposable income affect government purchases and the government purchase function. How do changes in net taxes affect the consumption function.
What would be the subsidy required to get Mr. Smith to perform the efficient amount of gardening? Now assume that Mr. Green, another neighbor, doesn't like the garden. He bears a marginal damage, which is given by MD(h)=2
Write equations for APL and MPL and graph them on the same set of axes. b. At what level of L is MPL at its maximum level? At what level of L is APL at its maximum level?
Joe's search costs are $7 per search. He wants to buy a DVD player for his wife for Christmas and lowest price he's found so far is $200. Should Joe continue to search or buy a DVD player at a price of $200.
Using a supply and demand diagram and a "tax wedge," show whether the buyers or the sellers will bear the bigger burden of a soda tax. Please actualy draw the supply and demand diagram for a full rating!
Illustrate what is the opportunity cost of a potholder for Martha. What is the opportunity cost of a potholder for Stewart.
Discuss which key concepts and topics in this course have made you a stronger candidate to enter the business world.
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