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The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5.
What was total revenue for the past year, in dollars? (Enter as a whole number without the dollar sign.)
Choose one company from the market structure of monopolistic competition and one company from the oligopoly market structure and state which characteristics make this company fit these market structures.
A consumer receives income y in the current period, income y in the future period, and pays taxes t and t' in the current and future periods, respectively. The consumer can lend at real interest rate r. the consumer is given two options.
Using lists (bullets and numbers) in documents
1. describe the schumpeterian notion of creative destruction. how does it compare to kirzners view of the
Compute the price elasticity of demand for subway rides. If the transit authority reduces the fare back to 50 cents, what impact would you expect on the ridership? Why?
Illustrate what do they mean efficienty level of output. If the government were to build the bridge, what price should it charge.
There is a firm with technology that can be described by the production function y = 4z1^1/2 + 2z2^1/2 with output price p = 6 and input prices w1 = 2 and w2 = 6. Now assume that the firm is making long-run decisions and can choose input 1 (z1) and i..
Explain what will happen in the countries to which the immigrants return to potential GDP, employment, and the real wage rate.
Effects of the financial crisis on selected countries - Leitfaden zum Anfertigen der wissenschaftlichen Arbeiten Bachelor Thesis,
Illustrate what are characteristics of large firms conducting both B2B and B2C transactions that require more robust and capable electronic commerce systems.
What economic concept illustrates the fact that at an all-you-can-eat restaurant, one rarely literally eats all the food he/she is physically capable of consuming? Explain.
If there is a decrease in demand for a product in a purely competitive industry, it results in an industry contraction that will end when the product price is:
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