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Sales are 3,100 at a price of $200 and 2,400 at a price of $300. Calculate the price of elasticities of demand using $200 as the base value; then use $300 as the base value. Calculate the arc price elasticity and compare the three calculations. How do your answers differ?
Which types of taxes are most important at each level of governemnt? Which two taxes provide the most revenue to the federal government?
The current population of the United States is 318.9 million with 3% of the population is engaged in R&D at an eciency rate of 1/500 per million persons per year. If the growth rate in output per person is 3.0% per year what is the value of in the Co..
If an economist refers to a ‘lemons market,' what should you infer. A. She is referring to a market for fruit. B. She is referring to any market with asymmetric or hidden information.
Elucidate effect does the current supply and current demand have on this product.
In country B the opportunity cost of 100 gallons of beer is 0.95 tons of cereal. Both countries can experience gains from trade if the exchange rate for a ton of cereal is 96 gallons of beer
A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $35.00 per unit for all successive units. What is the average varia..
In my mind it is hard to imagine any competitive advantage that technologies give to business without considering efficiencies. To me, technology is meant to either streamline business processes or automated them altogether. While many argue against ..
As the manager of a 60-unit hotel you know that all units are occupied when you charge $80 a day per unit. Each occupied room costs $8 for service and maintenance a day. In addition there is a fixed cost of $400 a day. You have also observed that for..
After the first course in biology or chemistry, many decide to major in something other that the natural sciences. which of the 12 principles is at work here?
Explain how does the subsidy affect consumer surplus, producer surplus, tax revenue, and total surplus. Does a subsidy lead to a deadweight loss. Explain
Using the specific factors model elucidate why you might expect to see certain capital owners and labor groups arguing against expanding trade in a capital abundant country.
Revenue from sales = $5,000,000, cost of production = $2,500,000, depreciation = $100,000, and the combined state and federal tax rate = 40%. The tax owed =
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