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for each of the following cases, calculate the price of elasticit of demand, and state whether demand is elastic, inelastic, or unitar. Show our calculations.
When te price of milk increases from $2.35 to $2.50 per gallon, the quanitity demanded falls from 100 gallons to 90 gallons.
When the price of paperback books fall from $7.00 to $6.50, the quantity demanded rises from 100 to 150.
When the rent on apartments rises from $500 to $550, the quantity demanded decreases from 1.000 to 950.
If our example patron was a teenager, it's likely the power need that he expressed was a normal teenage reaction to a parent interfering in his life. In additional library visits by his choice, he might reveal himself as achievement motivated. If tha..
The government dislikes smoking, and likes tax revenue. If they wanted to increase the after-tax price to $10 per pack, what size of excise tax must be placed on sellers? How much revenue will it raise? What will be the Deadweight Loss?
What is equilibrium price?What is the equilibrium quantity(Q)? Compute the consumer surplus a=384 b=296 c=0 d=112 e=-112 f= none of the above Compute the Consumer Surplus?
His strategy to acquire companies in different lines of business based on the requirement that each business in GE was to become the #1 or #2 competitors in the industry is touted as being particularly brilliant.
Write down the Lagrangean function associated with this problem and derive the first-order conditions for this problem.
What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?
Draw two diagrams, side by side with the money market diagram for Denmark on the left and the expected return in krone / exchange rate diagram on the right hand side.
The various financial indicators suggest that this setting of monetary policy is exerting a degree of restraint on the economy and the high exchange rate and subdued consumer spending are putting downward pressure on some prices, although increases ..
Find out the socially efficient price, units of output and profits? How much output would a monopoly produce? Find out the price and profits of the monopolist?
A company obtained $500000 for a necessary technology from a venture capitalist who charges them 24% compounded monthly. the agreement calls for no payment until the end of the first month of the fourth year, with equal monthly payments thereafter..
You are a factory owner who has just purchased a new machine for $5,000. Over the next year, it would have cost you $1,000 to rent this same machine. If the machine sells for $5,000 one year from now, what is the rate of return on this asset?
Rank the countries according to GDP per person in the most recent year for which you collected data. List the countries with the 10 highest levels of GDP per person. Has the composition of the 10 richest countries changed since 1970?
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