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As manager of Citywide Racquet Club, you must determine the best price to charge for locker rentals. Assume that the (marginal) cost of providing lockers is 0.
The monthly demand for lockers is estimated to be: Q= 100-2P where P is the monthly rental price and Q is the number of lockers rented per month.
a. What price would you charge?b. How many lockers are rented monthly at this price?c. Explain why you chose this price.
Compute the own price elasticity of demand at a price of $4. What is the inverse demand curve for the radio station
Compute the coefficient of price-elasticity of supply for the seven prices ranges given above and complete the table.
Assume the price of every old edition microeonomic book. Determine the values of B and T that maximize Sam's utility.
Elastic with respect to its own cost and whether Good Y is a substitute or a complement with respect to Good X.
Each demand curve must eventually hit the quantity axis because with limited incomes there is always a price so high that there is no demand for the good.
According to the quantity theory of money, what is the effect of increase in quantity of money?
A woman who anticipates comprise a large family takes a job with a firm that offers exceptional child care benefits.
Compute the PV of Mr. Deco's payment using the equivalent real cash flow and real discount rate.
Illustrate a supply or demand curve shift for the following article. The price of oil fell on Monday, January 12, 2009 as the weak economy has undermined oil demand. Light, sweet crude for February delivery fell $3.24 or 7.9%, to $37.59 a barrel.
There is a pure exchange economy with two identical customer , A and B. C ustomer A has 8 units of good 1 and 4 units of good 2. C ustomer B has 4 units of good 1 and 8 units of good 2.
Illustrate what would shoppers see when they shopped in Wal-Mart and the other "big box" stores that sell so many imported items
Gus cab driver rents a cab and pays for gas. In each of following circumstances, describe the short-run effects & long-run effects on the price and quantity of rides Gus offers.
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