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You run a small business and would like to predict what will happen to the quantity demanded for your product if you raise your price. While you do not know the exact demand curve for your? product, you do know that in the first year you charged $50 and sold 1,499 units and that in the second year you charged $40 and sold 2,111 units.
?If you plan to lower your price by 10? percent, what would be a reasonable estimate of what will happen to quantity demanded in percentage? terms? Incorporate the point elasticity of demand using the initial price and quantity in your answer.
The quantity demanded will increase by ____ units.
Assume you developed a process for underfilling of flip chips and sent that on to manufacturing where they are happily producing product. One day manufacturing stops because the underfill doesn't flow as usual -- something is changed about the underf..
Consider an organization where you work, or one with which you are familiar. What is an issue within the organization that could benefit from applying ethical principles? How can these principles be used?
Suppose the current equilibrium price of a quarter-pound hamburger is $5 and 10 million quarter-pound hamburgers are sold per month. After the federal government imposes a tax of $.50 per hamburger, the equilibrium price of hamburgers rises to $5.20 ..
The ATS Railroad runs a freight train daily between Chicago and St Louis. Two major groups of customers use this service: beef distributors and wheat growers. The demand for freight cars is given by the following equations: Qa 50-0.125P for the beef ..
Suppose that in country A the “bottom” 40% of the population receives 10% of the country’s income. The “top” 60% receives the remaining 90% of the country’s income. What is the Gini index in country A? Now suppose that in country B the bottom 20% of ..
GDP in an economy is $3205 billion. Consumer expenditures are $2417 billion, government purchases are $543 billion, and gross investment is $303 billion. Net exports are:
Imagine you are the marketing manager for a U.S. manufacturer of disposable diapers. Your firm is considering entering the Brazilian market. Your CEO believes the advertising message that has been effective in the United States will suffice in Brazil..
q1. the wall street journal once stated regarding fannie mae and freddie mac that their profit is privatized but their
Calculate the returns to scale, marginal productivity, and state which of the functions defines a convex feasible region over their entire usage?
Suppose the following table illustrates the values of actual and potential Real GDP, and the price level if the Fed does not vote to change their current policy to be more contractionary or expansionary. What problem occurs in the economy in year 200..
Suppose the federal funds rate is 4.4 percent and you know that the Fed is following the Taylor rule. You don't know the Fed's inflation target, but the equilibrium real interest rate is 4 percent, the inflation rate is 3 percent, the weight on the G..
Assume the full- unemployment rate is 5% . What could the Fed do in 2002-2003 in order to bring the economy back to full-unemployment ? What did the Fed actually do? Explain in detail
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