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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?
How much would Wyandotte have to reduce the price of polyol to achieve a 15 percent increase in the quantity sold? Evaluate the impact of such a price cut on(i) total revenue, (ii)total costs, and (iii)total profits.
assume that you have been appointed as the speaker of the house. you must deliver a speech about the current state of
do economic profits attract new firms into an industry? how do economic profits attract new firms
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Economic historians have argued that the financial system that emerged in the late 1700s and early 1800s was instrumental in promoting modern economic growth a few decades later. Discuss the important features of the new financial system that fos..
a calculate the marginal and average tax rates at the following income
Governments worldwide are turning to "protectionism" to cope with economic problems, imposing tariffs and subsidies on foreign goods and restrictions/incentives on their own firms to keep jobs at home. What are the strategic implications of this t..
If the average shooter aims at someone, he will hit them half of the time. If the drunk aims at someone, then he will hit them only ten percent of the time. Once someone is hit, they are out of the game, with the winner being whoever is the last r..
Why is there so much advertising in monopolistic competition Pick a product that you have purchased in a monopolistically competitive market structure and tell us how advertising did or did not play a key role in your decision to purchase that pro..
your company is currently engaged in business activities both nationally and internationally. a country you are
What is opportunity cost and describe with the help of an example, why assumption of constant opportunity cost is very unrealistic and also calculate point elasticity of demand
Assess a raise in tuition and if it will necessarily result in more revenue - Describe the conditions under which revenue will (a) rise, (b) fall, or (c) remain the same.
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