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You are the manager of a firm that receives revenues of $60,000 per year from product X and $100,000 per year from product Y. The own price elasticity of demand for product X is -2, and the cross-price elasticity of demand between product Y and X is 1.5. How much will your firm's total revenues (revenues from both products) change if you increase the price of good X by 2 percent?
A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What has this got to do with consumer surplus?
Your company plans to spend $95,000 in four years to improve productivity at its central office. However, the company’s cash account is in unexpectedly good shape at the present time and the administration decides to pursue the project now rather tha..
The given is natural logarithmic function. Ln(Q)=-0.23-0.34ln(P)+0.45ln(P2)+1.33ln(I). What is the price elasticity of demand for raspberries? What is income elasticity of demand?
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. Which of the following would ..
From the scenario, identify the possible illegal or unethical activities activities in which the print shop boss plans to engage in, and identify the consequences on society from an economic point of view.
Explain when a firm should bring its supply chain in-house. Explain when a firm should let its supply chain remain external.
Elucidate how scarcity of resources influences this market and describe the choices stakeholders are forced to make.
Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
The first cost of a production machine is $75,000. The machine will generate net annual income of $13,275 during its useful life of 10 years. Determine the rate of return of on investment in this machine. Express the answer as an integer. For example..
How has the educational system affected the quality of our labor force? Explain the Malthusian theory of population. Is it relevant today anywhere in the world? Explain where and why. How does the American savings rate compare to that of other leadin..
nasa please respond to the following analyze the methods used by nasa in itsstructured profit approach and speculate on
In the country of Dagobah, the velocity of money is constant. Real GDP grows by 3 percent per year, the money stock grows by 8 percent per year, and the nominal interest rate is 9 percent. What is: The growth rate of nominal GDP? The inflation rate? ..
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