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Analysis of Pricing: You manage Mt. Claire Café which sells meals at a price of $8.50 each. The meal includes a hot dish and a beverage of your choice. The average number of meals sold per month is 21,000. The owners of Mt. Claire Café would like to increase its sales and profits. They know that if price is lowered, they will sell more meals. So they run an experiment. Price is lowered to $7.50 per meal in March and the number of meals sold increases to 23,000. a. What is the Price Elasticity of Demand? b. Is elasticity elastic, inelastic or neither? c. What does this mean and why does it matter? d. Will Revenues increase or decrease as a result of the price cut? By How much? e. Beatrice has calculated the fixed costs for the Café are $18,000 per month and each meal costs $4.50. Will profits go up or down as a result of the price cut? By How much
determines the net weight of each, and computes the mean of these 16 weights with the sample standard deviation, s= 0.25.
Carlisle Company has been cited and must invest in equipment to reduce stack emissions or face EPA fines of $18,500 per year. An emission reduction filter will cost $75,000 and have an expected life of 5 years. Carlisle's MARR is 10% per year. what i..
You are the manager of a large crude-oil refinery. As part of the refining process, a certain heat exchanger must be replaced every year. The replacement and downtime cost in the first year is $180,000. how much could you afford to spend for a higher..
You live in a small town with only one grocery store. the demand curve for food in your town by p=35-1/5q. The grocery store has a total cost curve of tc = 50+1.25Q. Graph the Demand, Marginal Revenue, Marginal Cost, and Average Total Cost curves. Wh..
Assume that wages and prices are sticky and that we start at a long-run equilibrium. Assume that at this initial point, the growth rate of the money supply is 5%, the growth rate of the velocity of money is 4% and that the real economic growth rate i..
In most political campaigns, candidates promise more than they can deliver. In the United States, both Democrats and Republicans promise better health care, a better environment, only minor reductions in defense, better education, and an improved sys..
Did the government spending increases and large budget deficits of 2008-2011 strengthen aggregate demand?
Velocity remains constant at 8 and the money supply increases from $200 billion to $300 billion. The? original, nominal GDP was $ __ trillion? The ?new, nominal GDP is $ __ trillion?
When the_____ supply curve shifts outward or inward with an unchanged _____ curve, equilibrium price and quantity increase or? decrease, respectively. When the___ curve shifts outward or inward given an unchanged____ curve, equilibrium price moves in..
Calculate the equilibrium buyers' also sellers' price with no sales tax also then with the 20% tax Supposed above.
A decrease in government spending initially and primarily shifts which curve in what direction?
The position of the long-run Phillips curve depends on what?
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