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Suppose the demand for a product is given by P = 40 4Q. Also, the supply is given by P = 10 + Q.
What is the price elasticity of demand at the equilibrium price?
Electrical power costs at a mine are estimated to be $850,000 in each of the next 12 years. Find out the present value of this expenditure at an interest rate of 11%.
Consider the marginal cost for a product like Microsoft Window 7. How does the marginal cost for a product like this differ from a product like automobiles? What relevance might there be to this difference?
If the product price is $4 per unit and the price of the factor of production is $80 per unit, the profit-maximizing quantity of the factor is____ unit(s).
Draw an iso-cost line for this firm, showing combinations of L and K that cost $6 and another iso-cost line showing combinations that cost $12. What are the slopes of these iso-cost lines?
In some ways monitoring is easier in a partnership than a corporation, where shareholders monitor directors. In what ways is monitoring easier? In what ways is it not?
Set up the Lagrangian for a cost minimization problem, then use it to derive the Hicksian demands for goods X and Y when the utility function has the Cobb-Douglas form
General Electric (GE) is the company we selected. Explanation of the relevance to the firm, A strategy of how the firm will respond , A goal to maximize revenues for the years ahead 45
Explain why it is or is not possible to calculate the elasticity of demand for alcohol consumption for the state situation?
Evaluate arc price elasticity of demand between prices of $4 and $6 and compute the point price elasticity at the price of $6 state the significance of the coefficients.
Suppose you own a franchise of rental car bureaues in Florida. You recently get a report indicating that about 80% of all tourists visit Florida during winter months in any given year,
Is your explanation consistent with the fact that franchised tutoring services often charge a fixed royalty per student enrolled?
This is a challenging question and involves algebraically solving system of two equations given by AD abd AS curves. The equations for the curves are given through the following:
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