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A demand function is given: Q=210-3p. P=35. Find 3 things: The quantity that consumers will purchase at this price, The total revenue, and last, at this price and quantity, find the price elasticity of demand. Use point slope method to find this elasticity.
Describe what a manufacturer of each product might do in the short run to raise production.
Describe the Heckscher-Ohlin model (also known as the factor endowment). How does it predict countries will emphasize their comparative advantage?
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Suppose that you are on a desert island and possess exactly 20 coconuts. Your neighbor, Friday, is a fisherman, and is willing to trade 2 fish for every coconut that you are willing to give him. What is the slope of budget line from trading with Frid..
Who is in favor of net neutrality? What reasons do they offer for this position? What legal challenges are critics making against the FCC's rules? What three approaches are they taking? Which is likely to succeed?
If nothing is done to bend the cost curve what is the percentage of GDP estimated to be in 2030 and how will that impact us as a society? Additional comments: how would you generate the estimated increase? How would you figure out how this would impa..
Unfortunately, these days, we are inundated with news features in which businesses have violated codes of ethics. What are business ethics and please describe some modern day examples where such ethics have been challenged.
Suppose the government is considering the imposition of a unit tax to be levied on beer producers. The view of companies is that this is just one more cost for them to bear.
Suppose you have hired a new worker, unfortunately you do not know if the worker is a shirker or a hard worker. Suppose working hard raises the probability of making a sale from 40% to 80% (thus raises the probability of making a commission C by the ..
If she has invested in a stock fund that averaged a 15% rate of return over that period, and she expects to make the same annual investment and get the same performance in the future.
Suppose that the opportunity-cost ratio for watches and cheese is 1C ? 1W in Switzerland but 1C ? 4W in Japan. At which of the following international exchange ratios (terms of trade) will Switzerland and Japan be willing to specialize and engage in ..
Under the doctrine of respondent superior:
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