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Dakota Publishers prints coffee table photo books of the Great Plains and mountain states. The marketing manager generally prices books at $35 each, and sales an average of 4,000 per month. Last month, she had a sale and priced volumes at $22.50 each, selling 8,500 copies. Calculate the price elasticity for these books. Describe how elasticities should be used in pricing decisions. If you were responsible for setting the price of these volumes, what would you choose and why?
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
GDP does not include the value of used goods that are resold. Why would including such transactions make GDP a less informative measure of economic well-being
If the economy currently has a frictional unemployment rate of 2 percent, structural unemployment of 2 percent, seasonal unemployment of 0.5 percent, and cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the ec..
Amy's card shop receives a shipment of valentine's day card in December 2013. Amy pays the wholesales distributor of the card a total of $500. In February 2014 she sells the cards for a total of $ 700. What are the contributions of these transactions..
Include a brief explanation of each choice and indicate whether you were very sure of your choice or whether you thought the classification depends on how the market is defined. Write a classifying each of the following industries into the appropriat..
Outline the human capital and signalling approaches
Your college plans to increase total enrollment next year by 5,000 students. The additional students will have the following demand schedule: [Refer the attachment, table2] Now add the old demand schedule and the demand schedule for the new students ..
would you expect the price elasticity of demand to be higher at the level of an individual school or at the aggregate
What is the “Fiscal Cliff”? What effect will the “Fiscal Cliff” have on the economy in the short run? Explain and illustrateusing the Aggregate Supply –Aggregate Demand model. How can the “Fiscal Cliff” be avoided?
Margie has just attended the funeral of her son William, who died this week after several years of poor life quality in the same nursing facility. William's first stroke happened 3 years prior; two more strokes followed, and he lingered in poor he..
Microeconomics is considered to be the study of scarce resources. Here, customers must make allocation decisions. These 3-basic trade offs include which goods or services are to be manufactured,
Whether programs with offensive features can appeal to the squeamish
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