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You own a theater with 200 seats. The demand for seats is Q = 300 -100P. You are charging $1.25 per ticket and selling 175 seats. Your costs are fixed and do not depend on the number of people attending. Should you cut your price to fill the theater?
Numerous Americans lack health insurance because they are unable to pay for it. However, the number of people who do not have health insurance is relatively small as compare
How demand and supply forces were affected by the raising of the national debt limit, the sequestering of the budget, and the fiscal cliff. If the Government had not increased
What is the key difference between a change in price and a change in any other factor affecting demand on the demand curve - Explain the differences between a market economy a
Assume you're the manager of Alpha Enterprises, a firm that holds the patent that makes it the exclusive manufacturer of bubble memory chips. Based on the estimates provided
In sedimentation involving mixtures of particles of various sizes, the larger particles hinder the movements of the smaller ones. Thus, it is important to study both the mea
Suppose that you own a car wash and that its total cost function is: C= 20 + 2Q + .3Q^2, where C = total cost (in dollars) per hour and Q is the number of cars washed per hour
assume that the student wants to eat at least 0.25 pounds of cookies each day and will eat at most 0.50 pounds of carrots per day. Formulate an LP model that minimizes daily
The chair-making industry currently consists of 90 producers, all of whom operate with the identical short-run total cost curve STC(Q)=500+3Q2, where Q is the annual output of
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