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You are the manager of a firm that receives revenues of $40,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X is 1.6.
How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 1 percent?
Calculate the incremental profit that south park would earn by customizing its instruments and marketing them directly to end users.
Some manufacturing companies are moving out of the country in search of cheap labor and the ones at home are not doing as good and some big ones like auto are trying to cope well after coming out of bankruptcy.
An industry consists of three firms with sales of $200,000, $500,000, $400,000. Compute the Herfindal-Hirschmann index (HHI)
During the recession in the early 1990s, retailers observed that consumers were spending a lot more time searching for good bargains than ever before, which led the retailers to lower prices.
Economists who align more with the "Classical" school would have a "leave it alone" (Laissez Faire) attitude and would oppose active policymaking. "Rational Expectations Theory" (a "new classical approach") suggests that people figure out what wil..
Compute the MIRR we need a finance rate and an reinvestment rate and finance and a reinvestment rate are needed to compute the return on invested capital (RIC) for non-simple cash flows.
Provide an example of the price discrimination for good or service which you thought it to unfair. Do you still believe that the discrimination is unjustifiable.
A firm uses two plants (A and B) to produce the product. The plant's marginal cost functions are given by the following equations:
Alternative S has a first cost of $175,000 and a $40,000 salvage value after 5 years, but its annual M&O costs are not known.
Assume that someone told you that an increase in price of DVD players caused the decrease in demand for DVDs. Is this what you would predict? Why or why not?
What is Tom's 'real' hourly wage rate? How much will it be if he had 128 hours of leisure (= worked 40 hours)d. Tom chooses to work 40 hours a week. On the above graph, draw Tom's indifference curves between leisure and money so that this is his opt..
Calculate the quota's redistributive effect, consumption effect, protective effect, and revenue effect and what is the overall welfare loss to Venezuela as a result of the quota?
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