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Always Round Tire finds that their demand curve is P = 50 - .02 Q (note: Marginal Revenue has twice the slope as the demand curve). What price and quantity combination will maximize the firm's revenue? What are the total revenue and price elasticity at this point?
In a fixed exchange rate system, how do countries address the problem of currency market pressures that threaten to lower or raise the value of their currency?
Describe the least cost combination of L and K when output is produced at the rate of 1,000 tons per day. Determine the required outlay for 1,000 tons per day.
If the marginal revenue from a product is $15 and the price elasticity of demand is ? what is the price of the product?
suppose nominal GDP in 2012 was $100 billion and in 2014 it was $220 billion. The general price index in 2012 was 100, and in 2014 it was 140. Between 2012 and 2014, the real GDP rose by what percent? What is the size of the labor force in the United..
1. Sales of cars declined by 15 per cent in a recent recession. During this period the price of cars rose by 6 per cent, average income fell by 4 per cent and the price of petrol rose by 20 per cent. It has been estimated that the PED for cars is - 0..
Assume that wages for data entry clerks are lower in India than in the United States. Does this mean that data entry jobs in the United States will be outsourced to India? Explain.
Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
q.in economic history there have been many great economists who have developed theories concepts and ideas which have
Can you identify the consequences of a strong dollar or a weak dollar in the United States? Which direction do you prefer for the overall health of the American economy? Should the U.S. take measure to ensure that the dollar retains its dominant role..
Is the price mechanism of a perfectly competitive market a good mechanism to allocate gasoline.
Illustrate what has happened to the value of the dollar. Illustrate what are the comapny's hourly labor costs in dollars at both exchange.
Find an article (newspaper, magazine, or online) that identifies a shift change in supply and demand. Use the article to answer the questions: Indicate if the shift has already occurred, maybe occurring currently, or may occur in the future. Is the m..
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