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When price of coke rises from $5 to $7, quantities demanded for coke falls from 1000 to 800, and quantities demanded for pepsi rises from 300-400. Calculate the cross elasticity of demand, using the mid-point approach.
The only DVD rental club available to you charges $4 per movie per day. If your demand for movie rental is P=20-2Q, where P is the rental price and Q is the quantity demanded, what is the maximum annual membership fee you would be willing to pay to j..
1. gary and diane must prepare a presentation. as part of their presentation they must do a series of calculations and
why do nations trade? what is meant by the concept of comparative advantage? could a nation be better off
Gillette's shareholders, Chairman and CEO James Kilts indicated, "Despite several new product launches, Gillette's advertising-to-sales declined dramatically . . . to 5.5 percent last year. Gillette's advertising spending, in fact, is one of the l..
Average cost includes both fixed and variable costs
Suppose that the quantity equation of money holds M x V = P x Y and the velocity of money is constant, V. (a) If the money supply increases by 3 percent, by what percentage rate do prices change? That is, what is the inflation rate? (b) What is the r..
describe developing countries and how they differ from industrial market economies. how can international trade aid
based on many years of experience a lecturer in econ241 has determined that the probability distribution function of x
You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs. The firm produces and sells a given output. If w = $35, r = $100, MPL = 7, and MPK = 20 the firm:
Show that the unemployment rate, ur, is related to the employment rate, er and labour force participation rate, pr as follows: ur = (1 - er/pr ) Presume the labour market is in equilibrium when the labour force participation rate is 0.60 and the empl..
what do you mean by a social welfare function? if you assume that such a function exists what properties of social
Discuss how you would leverage two (2) resources in the short term and two (2) resources that could be used for long-term planning. Provide specific details examples to support your response.
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