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A store selling clothing and shoes has monthly revenue of $100,000 from clothing and $50,000 from shoes. Own price elasticity of demand for clothes is -2 and cross price elasticity of demand between clothes and shoes is -0.5. if the store increases the price of clothes by 5%, what will be the change in revenue?
Does the GDP deflator do a better job than the CPI in measuring the cost of living
Mike’s Mechanical Men produces radio controlled robots. If its average costs of production are $25, its fixed costs equal $2,500, and it charges $75 per robot, how much revenue must be generated to earn a profit of $5,000?
The elasticity of demand:
Elucidate why would elasticity of demand be important to you in determining the products on which the taxes should be levied.
q.prepare a word document that addresses each of the following questions as well as submit to your instructor.some
Why might some firms voluntarily pay workers a wage above the market equilibrium? Which of the following government policies would lead to an increase in productivity?
All workers face tradeoffs. Self-selection allows workers to exploit these tradeoffs when choosing jobs, thus maximizing utility. One trade off is between pay and safety. Some workers are willing to take a hazardous job if it is accompanied by higher..
You are given the following information about a monopsonist:
In which of the three market arenas is each of the following goods traded?
Describe in your own words the categories of Web-enabled customer service as discussed in the assigned readings of the text. What makes the most sense for a business like yours (if you are currently employed)?
q1. in terms of currency denomination describe how proctor amp gamble prices its revenue and costs. consider any two of
Illustrate the expected total monetary loss under 4% of annual interest rate if this park is permanently closed this year.
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