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Several diners at the Olympia Restaurant have complained of stolen coats in the last fews days. A regular customer known to the manager entered the store with a coat that resembled the description of on of the stolen coats. The manager detained the customer pending an investigation. Was the manager's action in detaining the customer legal? Why or why not?
For the purposes of experimentation, Six Flags raised prices of tickets from $29.00 to $39.00 and then measured by how much sales changed. They found that profits increased us
Pauline has been selling 5,000 widgets per year for $8.50. When she raised the price to $9.50 she sold only 4,000 widgets. What is the elasticity of demand? If her marginal co
Your local fast food chain with two dozen stores uses the company's internal corporate marketed department to produce signage, print ads, in-store displays, and so forth. Late
Mandy, manager of a cafeteria at a large corporation, purchased a new freezer for kitchen. It operated at a temperature a few degrees above the setting. Is the freezer merchan
What are the long-run macroeconomic goals? What is long-run macroeconomic equilibrium? How the goals are relate to the macroeconomic equilibrium? Suppose that consumers and in
Discuss the importance AS-AD model in explaining the macroeconomic conditions of the economy and business cycles like recessions. What factors shift AS and AD curves? How do y
In her last-minute preparations for final exams, a student has set aside five hours to split between studying for two subjects, finance and economics. Her goal is to maximize
The production engineers at Impact Industries have derived the optimal combinations of labor and capital (the only two inputs used by Impact) for three levels of output: 120,
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