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In order to attract more customers on Mondays ( a slow day), Alex's pizza shop decided to reduce the price of their pizza rolls from $3.50 to $2.50. As a result, Monday sales increased from 70 to 130. Also, Alex's sales of soft drinks rose from 40 to 90.
A) Calculate the arc price elasticity of demand for the pizza rolls,
B) Calculate the arc cross-price elasticity of demand between soft drink sales and pizza roll prices.
Using marketplace equilibrium why do baseball players also CEOs make more money than your lowly Economics instructor.
q1. suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current
Explain how does the concept of dualism adequately portrays the development picture in developing countries.
The 3 tools for conducing monetary policy are changing reserve requirements, changing the discount rate, and open market operations. Elucidate how each of these tools works.
What is the best practices frontier? How does this relate to competitive advantage? Explain why rent seeking competition tends to dissipate rents-to drive them down so that there are no abnormal rents?
q1. you have the following information for your productbull the price elasticity of demand is -0.9.bull the income
what is the opportunity cost of producing Toyotas in each country. Who has the comparative advantage in producing Chevrolets.
Consumers are not able to resell good 1. For p
Illustrate the total price of production (including the cost due to environmental damage) at the unregulated equilibrium quantity of 400.
A county with 1M (M for million) population, 2% unemployment, and no in ation, voted to build a stadium and rent it to a professional baseball team. The team owner, who was not a county resident, was to pay $1M per year rent for use of the stadium an..
Illustrate what best depicts se events on market for recycled materials. Price remained constant.
You have been asked to produce a forecast for your company's new product (bottled water). List and briefly describ four factors you would consider before giving the forecast.
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