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you are a painter, and the price of a gallon of paint increases from 3.00 a gallon to 3.50 a gallon. Your usage of paint drops from 35 gallons a month to 20 gallons a month, compute the price of elasticity of demand for paint and show your calculations. decide whether the demand for paint is elastic,unitary elastic, or inelastic. explain your reasoning and interpret your results
Two firms compete for consumers who have aggregate Demand x=100-2P. Both firms have constant marginal costillustrate both firms' best response functions & indicate Illustrate what the outcome is for each firms'.
congress decides to reduce our dependence on foreign oil by imposing a $.50 tax on each gallon of gasoline at the pump. Elucidate briefly what kind of supply and demand elasticity for gasoline must be present in the U.S. market, in order for this..
Sharp rises in the cost of milk, grain, and fresh fruits and vegetables are hitting cafeterias across the country, forcing cash-strapped schools to raise prices or serve more economical dishes.
The text noted that money performs three basic functions. Select one of these functions and describe the ways rapid inflation could undermine money's ability to perform the function you selected.
elucidate what will be the effect on the world price of wool. How does the marginal revenue to Australia from an extra unit of wool relate to the price of wool.
One person using one computer can produce 11,000 typed pages per year, and the price per page for your service is $2. Depends on the costs and revenues above, which should you do. Elucidate and show any relevant calculations.
Why would an ounce of gold be priced higher than an ounce of coffee beans though coffee is generally considered more essential than gold
Compare and contrast the Nielsen rating or a given episode on a TV series with the comments posted about the same show on TOP.
Draw the wage-schooling locus for someone for whom returns to schooling decrease through college but increase after college
As a second alternative, Mrs. Siegal can take pain killers. Each pill costs 50 cents also Mrs. Siegal needs to take 30 pills every month.
Does Zara experience disadvantages from its "fast-fashion" allocation system. Are these disadvantages offset by the advantages.
What would be the total profit of the firm if it sells the entire output at a cost of Rs. 60 per unit.
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