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Assume that a men's dress shirt was selling at $100 in a store. After one week, the store sold only 50 shirts. Then the manager of the store declared a sale "buy one get one free". This resulted in a sale of 200 shirts in the following week. Calculate price elasticity of demand. What does the coefficient indicate?
How is superior theory of comparative advantage of David Rivardo to the theory of absolute advantage Adam Smith? How the gains from trade comparative advantages emerge? Discuss the empirical evidence that supports the Ricardian model.
Fair-trade standard guarantee
What happens to the price level pt when the money growth rate m changes, holding the current money supply mt constant?
The demand curve for higher education in Tallahassee is P=120-2Q. Assume the only two colleges in town are FSU and FAMU. Each university faces the cost function TC=6Q. Both colleges get together and successfully collude to fix price at a profit maxim..
Fiscal policies can work only if private enterprises respond to them in certain way; if they respond in other ways, the policies fail. Explain and give examples.
The equation for the original demand curve is Q=50-6.25P. Find the new demand equation when demand increases by 20% (Round to one decimal place). Q=___ - ___P. Find the new equilibrium price and quantity after demand increases 20%. P= ___ Q=___ (Roun..
How did slavery impact the economy in the South and the North differently
Elucidate why are shortages or surpluses more likely with preset costs, such as those on tickets, than flexible costs
What are the factors which led M&S to internationalize
Elucidate the multiplier concept as it applies in this case. What are the qualifications and limitations of the multiplier model.
What are problems associated with implementing JIT purchasing. What are some of expectations of suppliers.
If Jones sells the equipment today for $180,000 and its tax rate is 35%, what is the after-tax cash flow from selling it.
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