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When the price of a cruise rises from $19,500 to 20,500, the quantity demanded decreases from $2,100 to 1,900 travelers. Use this information to calculate the price elasticity of demand for cruises. The price of a cruise increased by-------percent. The quantity of cruises demanded decreased by---------percent. So the price elasticity of demand for cruises is --------percent. Please help me , show the work.
Find the following probabilities for a sample of n = 10 trainees selected at random. Two or more are rated as outstanding. None of the trainees are rated as unsatisfactory.
A rightward shift of the long-run aggregate supply curve is caused by
Suppose you are given the following Total Product Function: Q=100K^3/2 L^4/2 M^4/7,where Q is total output or units produces; K, capital; L, labor; and M, materials.; that is, this is a input factor production function. Discuss the returns to scale.
Which of the following are tools available to the Federal Reserve to influence the money supply directly?
Your weapons company, Top GunZ, sells fighter jets to two countries. The jets can be produced at a constant marginal cost of $10 million. The demand for jets in the two countries can be represented as: QA = 100 – 2p QB = 80 – 4p. Assume that the opti..
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
You have discovered that when the required rate of return on a bond you own fell by 0.5 percent from 8.9 percent to 8.4 percent, the fair present value rose from $945 to $955. What is the duration of this bond? Assume annual payments.
A pet store is considering adding an employee discount of 25% off anything in the store to the benefits the employees already receive. What are the long-run implications of adding this benefit to the wages that its employees receive and to the type o..
Refer to real world solution in the chapter. Has crescent healthcare applied the three steps for the upgrading of legacy systems outlined in the chapter? Which of those have been done in more or less detail? Can you fill in the blanks for any that yo..
Which of the following concerns is likely to be most important to portfolio investors seeking diversification? a) Total volatility of individual securities b) Standard deviation of individual securities c) Correlation of returns between securites d) ..
Suppose that an unpopular president was leaving office, and a very popular candidate was elected, and this significantly increased the public's confidence in the future of the economy. Using the aggregate demand/aggregate supply model, elucidate t..
sometimes a bidder on a work contract may bid lower than what would maximize hisher profit from the contract and the
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