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You are the manager of a firm that receives revenues of $60,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1, and the cross-price elasticity of demand between product Y and X is 1.2.
How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 1 percent?
Considering the correlation of a company to the economy which would you chose: A company positively, negatively, or not correlated?
Compute the price elasticity of Demand for paint also Elucidate how your calculations. Decide whether the Demand for paint is elastic, unitary elastic or inelastic.
borrow 1000 at t=0. Make exact interest only payments at the end of each year for 4 years and at the end of the 4th year repay the entire principal in addition to the last interest payment. borrow 10000 at t=0. Pay a principal payment each year of 25..
what is the best level of output of a perfectly competitive firm in the long run?
Suppose the US dollar depreciates against other currencies. Under the linked exchange rate system, Hong Kong pegs its nominal exchange rate to the US dollar. What would happen to the prices of goods and services (in terms of US dollars)in Hong Kong i..
Jane uses an online dating service. For each of the following activities say whether Jane is screening or signaling.
Describe political and social impacts of this association. Are regional trade associations beneficial for global economy. For members of association.
Do you think that the long run equilibrium price of oil as world demand expands will behave in a fashion similar to the long run equilibrium price of motorcycles as world demand for them expands?
A firm employs 8 units of the variable resource. at this level of employment, average product is 2, and average variable cost is $4. Explain how much output is the frim producing.
The Department of Justice concluded that satellite radio is not a market in and of itself while reviewing XM and Sirius merger. What other kinds of competitors did the DOJ include in the market? Discuss.
Which of the following is true about a content chunk on a web page?
Statistics Canada has recently adjusted the CPI basket of goods and services by increasing the share of shelter in total expenditure from 25.7 to 27.5 percent, and decreasing the share of recreation, education, and reading from 13 to 11.8 percent. Wh..
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