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The Pilot Pen Company has decided to use 15 test markets to examine the sensitivity of demand for its new product to various prices, as shown in the following table. Advertising effort was identical in each market. Each market had approximately the same level of business activity and population. a. Using a linear regression model, estimate the demand function for Pilot's new pen. b. Evaluate this model by computing the coefficient of determination and by performing a t-test of the significance of the price variable. c. What is the price elasticity of demand at a price of 50 cents?
Choose any two of the numerous Great Society programs that were initiated ruing the 1960s; explain the intent of those two programs. Then, give a substantiated assessment (-.gov sources work well for this) of how successful those programs have been i..
Elucidate how a recessionary output gap would emerge in an economy where long-run aggregate supply curve is persistently shifting to right.
Assuming that prices are set competitively (i.e. set equal to MC of producing services), show in a supply-demand graph how we could measure the “efficiency loss” (or deadweight loss) associated with health care over-consumption
Determine two (2) likely factors that might have caused the change. Predict the primary manner in which this change would likely impact business operations in the new market environment.
Clarify what happened to the profit maximizing output rate when input costs were increased.
An increase in the aggregate demand for goods and services has a larger impact on output ________ and a larger impact on the price level ________.
Aside from retail sales and marketing, identify and discuss two ways that a business could reduce costs or increase profits by using the Internet or Web applications.
What do monopolistic competition, pure monopoly, and perfect competition have in common?
Are legalized forms of gambling, such as state-operated lotteries, consistent with a continuing public policy against the enforcement of gambling contracts? Why or why not? Please discuss and support your comments using legal reasoning and terminolog..
Which of the following would cause the real exchange rate of the U.S. dollar to depreciate?
Write a formula for the IS curve, showing Y as a function of r alone. Write a formula for the LM curve, showing Y as a function of r alone. What are the short-run equilibrium values Y , r, Y d, C, I, S, Spub, and national saving?
APA format advising the President of Rodamia making recommendations for international trade.
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