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Hotel rooms go for $100/room and sell 1000/day; if taxed at $10/room and rate goes to $108 and 900 rooms are sold, what''s the tax revenue and dead weight loss?
explain how a perfact market responds to changes in consumer demand?
an introduction to cross elasticity of demand?
This involves the characteristics of the production human as well as non human using the product concerned. For example it may pertain to the number and characteristics of children
will post picture
why value of marginal product is negatively sloped
What is Hicksian demand function? Hicksian Demand Function: The solution of expenditure function that is the function of (p, u) is denoted by h(p, u) and termed as the Hicks
herberler theory of opportunity cost
if the inverse demand curve is p = 120 - Q and the marginal cost is constant at 10, how does charging the monopoly optimum and the welfare of consumers, the monopoly, and society?
When the price of candy bars increased from $.45 to $.55 the quantity demanded changed from 21,000 per day to 19,000 per day. In this range the price elasticity of demand for cand
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