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A price change causes the quantity demanded of a good to decrease by 30 percent , while the total revenue of that good increases by 15 percent. Is the demand curve elastic or inelastic ? Explain?
What is the estimated annual profit for a mine producing 21,346 tons per year (which is at 100% capacity) when zinc sells for $1.00 per pound? There are variable costs of $20 million at 100% capacity and fixed costs of $17 million per year.
Would you rather earn a 4 % nomical or 4% real interest rate? Illustrate by describing the difference between nominal and real variables.
This would obviouslyr equire more pilots, stewardesses, and others that facilitate theair-travel experience. However, suppose at the same time that several of the major airlines experienced a shortage of pilots dueto a strike.
Why do you think this strategy became less viable in the 1990s What strategy does P&G appear to be moving toward What are the benefits of this strategy What are the potential risks associated with it
supply curve is applicable to a nation's economy. Create appropriate diagrams to assist in answering the following questions:
the wages of players have raised enormously, in particular the salaries of high-quality pitchers.
Important information about Equivalent yearly Worth. With an interest rate of 10% per year and given the following estimates, the annual worth of alternative ''F'' is closest to
Although the U.S. does not have the highest saving rate in the world, Americans save more money than citizens of every other country
Explain how and why the firms demand curve for labor will compare to that of the firms operating in a competitive product market, and the consequences for the firms employment of labor. No graphs or calculations are needed.
Barry earns $20 an hour for up to 40 hours of work per week. He is paid $30 an hour for every hour of work in excess of 40. There are 110 hours a week available for work. Draw Barry's budget line for these facts. Label completely.
Consider a market in which there are N identical buyers who each demand qb = a - P units and thus that market demand is given by Q = N(a - P). Each firm has constant marginal cost equal to c and fixed cost equal to F
Now determine equilibrium quantity and graph the two equations to substantiate your answers and label these two graphs as Dl and SI.
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