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The demand function for a certain make of ink-jet cartridge is the following where p is the unit price in dollars and x is the quantity demanded each week, measured in units of a thousand.
p = 0.03x^2-0.03x+6
Compute the elasticity of demand when x=9
ABC corporation is a holding company with three subsidiaries. The following information pertains to these subsidiaries:
Using the relationship between the price of a visit to a physiotherapist and the quantity of visits demanded, define and distinguish among the direction, the slope, and the position of an economic relationship.
David Ding advertises on a local radio station. For last 6-weeks, the manager has kept records of the number of minutes of advertising that were bought, and the sales for that week.
A company has the following short run demand and cost schedule for a particular product; Estimate the firm's profit-maximizing Quantity, Price, and economic profits or losses.
Assume that the current marginal propensity to consume equal .75. Determine what will be the impact on equilibrium NDP of an investment of $1 billion?
What is the equilibrium price of wheat and what is the equilibrium quantity of wheat sold
Mr. Smith, has fallen behind on his work, he has asked you to help to make a letter for a local business or economic project.
The manufacturer of high quality flatbed scanners is trying to decide what price to set for product. The cost of production and the demand for product are assumed to be as follows:
Explain the difference between a price floor and a price ceiling. Provide a situation in which a price ceiling may be used. What are the effects of this price control on the equilibrium
How does the theory of efficient production apply to managers of government bureaus or departments that are not run for profit How about nonprofit clubs that collect just enough dues from their members to cover the cost of operation
A company has the following short run demand and cost schedule for a particular product: Calculate the total profit or loss this firm would make
To be successful, you have to be cheaper. Take an SBA (Small Business Administration) course, and thy will tell you that if your only competitive point is to be cheaper, don’t bother starting your business.
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