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Assume the elasticity of demand for gasoline is -0.3 and start with the current price of gasoline of about $3.00 per gallon. How much would we need to increase the price in order to cut gasoline use in half?
Based on your understanding of frictional, cyclical, and structural unemployment, do you think that this high unemployment rate can be explained by frictional unemployment? Why or why not?
lewis and martin are successful comedians who get utility u from consumption c. they each have the same utility
How does a ban on price discrimination affect producer surplus
assume the following game is played one time only. based on the information in the payoff matrix pnc bank and citizens
Both Viacom and Paramount owned a diverse group of entertainment business. QVC was a televised shopping channel. The Paramount board of directors accepted a merger offer from Viacom at a price of $69 per share. QVC and Viacom then entered a biddin..
Explain how the short-run Phillips curve, the long-run Phillips curve, the short-run aggregate supply curve, the long-run aggregate supply curve, and the natural rate hypothesis are all related. How do active and passive views of these concepts d..
A firm produces a product with a fully allocated average cost equal to $20. If the price elasticity of demand for the product is -5,what should the product price be set at?
discuss the differences between the microeconomic definitions of supply and demand and the macroeconomic differences of aggregate supply and demand. Discuss what determines supply and demand and aggregate supply and aggregate demand.
1. nbspfor each of the following transactions identify whether or not it would be included in gdpnbspa. an accountant
Amy's card shop receives a shipment of valentine's day card in December 2013. Amy pays the wholesales distributor of the card a total of $500. In February 2014 she sells the cards for a total of $ 700. What are the contributions of these transactions..
4. The manufacture of high-quality flatbed scanners is trying to decide what price to set for its product. The costs of production and the demand for the product are assumed to be as follows: TC = 500,000 + 0.85Q + 0.015Q2 and Q =14,166 - 16.6..
At a management luncheon, two managers were overheard arguing about the following statement: "A manager should never hire another worker if the new person causes diminishing returns." Is this statment correct.
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