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1 Explain how Demand, Elasticity, and Total Revenue are all related to each other. Explain this relationship using at least two examples that incorporates all three concepts. Use examples and references from texts, Web sites, and other references or from personal experience, in answering this question.
2. The Incidence of the Tax Identify and explain the factors that determine who actually bears the burden of a tax increase on a specific good, such as gasoline, cigarettes, or some other product. Use at least two examples in your response. Is the incidence of the tax a consideration when government imposes this tax increase?
Clear Limited produces Plasma TV and distributes to retailers under her own house brand. Recent trend in market seems to favour adoption of TV using either LED technology.
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
What is the profit maximizing output if the price and What is the maximum profit that can be achieved - What is the marginal product of the 3rd worker
What will you put on sale in your district during the Valentine's Day week? You must provide your reasons and
A. In 1996, many cows in Great Britain came down with "mad cow disease". As a result, the nations of European union banned the import of British beef.
Dsecribe a complete business cycle (trough, peak, expansion, recession), focusing on what happens to output, investment, employment in each phase.
Identify the government department that compiles the statistics on unemployment. About how many business firms in the United States are proprietorships?
Find the expected value of X. Show your work and find the variance of X. Show your work and calculate the cumulative distribution function
Compute the formula for Bob's indi erence curves by setting U(C, P) = k for some constant, k, and solving for P as a function of C and explain what this term means economically, and what it tells us about Bob's preferences, and about his willingnes..
Estimate the number of cups served per week and determine outlet demand curve. What would be the effect of a $5000 increase in the competitors' advertisement expenditure and outlet demand curve
Suppose there is a surge in demand for olive oil after researchers discover that olive oil consumption reduces heart disease. Analyze the short and long run effects of this increased demand on you firm.
Suppose M = $80,000, PR = $30, T = 5, PE = $12, and N = 6,000. Using these, compute and write the direct demand function for Good A. Show your math. Watch the decimals! The coefficient on M is 0.02 and the coefficient on N is .4
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