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Governments often claim that they impose high taxes on products like cigarettes because smoking is bad for your health. They claim that the high taxes are intended to discourage your consumption. Use your understanding of the elasticity of demand to dispute this claim, assuming that cigarettes have a very inelastic demand. Illustrate with a graph.
Neilsen Media Research wishes to pretest a questionnaire to be mailed to many thousand spectators. One question involves the ranking of male and female college students
Create a list of reasons for your recommendation and include considerations of product features and use of advertising.
Discuss why is it difficult to estimate who is and who is not in the labor force? What consequence does this have, if any, for the labor market indicator?
Assume the demand curve for a monopolist is Qd=500-P, and the marginal revenue function is MR=500-2Q. The firm has a marginal and average total cost of $50per unit.
Find the market price, the quantity produce and the profit of each firm and what is the number of firms in the long run equilibrium?
According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.
Discuss and explain the interest parity idea using formal methods Describe IS and LM curve behavior and nominal interest rate in the domestic economy,
South Korea is one of the major beef importing countries. With no international trade, Korea's equilibrium price for beef was $10 million per kilo tonne and equilibrium quantity was 30 kilo tonne.
Find the equation of the new demand curve for Chevrolets. Plot the new demand curve, D1 c' and, on the same graph, plot the curve for Chevrolets, D c'. found in 2 (d).
Suppose that MN Company is currently selling 300 units of Product SD per month. Management wants to increase sales and feels this can be done by cutting the selling price by $22 per unit and increasing the advertising budget by $20,000 per month. ..
The manager of a public utility supplying electricity to a significant portion of a geographic region presides over an electrical generation facilities that can make electricity using either natural gas or oil,
Why is it significant for managers to understand both short run and long run supply and demand? Please give one hypothetical or real life example which illustrates your response.
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