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If the price elasticity of demand for gasoline is 0.3 and the current price is $3.20 per gallon, what rise in the price of gasoline will reduce its consumption by 10 percent.
Determine what activities should we look for in order to estimate if an entrenched management is taking actions that would harm us as shareholders?
John Piderit the general manager of the Western Tool Company is considering introducing some new tools to the company's product line. The top management firm has identified three types of tools (referred to as projects A, B, and C). the various di..
Milk becomes more popular amd better feed increases milk production. how do these events influence demand and supply ? describe how the equilibrium price and equilibrium quanity changes.
Suppose at current factor prices a country's manufactures use 60 hours of labor for each acre of land and food is produced using only fifteen hours of labor per acre of land. If the economy's total resources are 1800 hours of labor and 180 acres o..
In a closed economy, marginal propensity to consume .6. If the economy opens up to world and marginal propensity to import is .4, using the Keynesian model of output determination;
Antitrust laws were created in order to maintain competition and protect consumers. There have been several high profile Antitrust cases in the last few years (e.g. Microsoft). Think of a recent example. Do you think the right decision was made
Mary is utilizing 3 hot dogs and 2 Cokes at the Bucs game.
Calculate a perpetual equivalent annual cost (year 1 through infinity) of $5 million in year 0, $2 million in year 10 and $100,000 in year 11 through infinity. Use an interest rate of 10% per year.
karls preferences over hamburger (h) and beer (b) are described by the utility function U(h,b)=min(2h,3b). his monthly income is M dollars and he only buys these two goods out of his income. denote the price of hamburgers by Ph and beer by Pb.
Describe the present economic crisis situation in Europe. Why has it been so difficult for the Europeans to find a solution to this problem? Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..
Suppose a firm must pay an annual tax, which is a fixed sum, independent of whether it produces any output-How does this tax affect the firm's fixed, marginal, and average costs?
price levels in local service and long distance were in the past greatly influenced by cross subsidy. What is the nature of cross subsidy, its extent, and its consequences for the pricing of new long distance entrants in comparison to AT&T
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