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Over the years the market demand for “long-playing records made of polyvinyl has fallen considerably as new technologies replaced the old “lp” yet lps are still available for sale and they sell at price points higher (in some cases much higher) than CD’s. According to economic theory when demand falls, the price of a product should fall. Explain this apparent contradiction between theory and fact.
You are the manager of a firm that receives revenues of $40,000 per year from product X and $70,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-price elasticity of demand between product Y and X..
A small company involved in e-commerce is interested in statistics concerning the use of e-mail. A poll found that 36 percent of a random sample of 1094 adults, who use a computer at their home, work, or school, said that they do not send or receive ..
question 1a in a competitive market place pure competition is it possible to continually sell your product at a price
consider a firm with the following production schedule and a fixed cost in the short run of 19. this fixed cost comes
Draw the demand curve for your product (market share vs. price). If a segment is indifferent between buying and not buying, assume they will buy.
How much is his fixed cost? How much is his variable cost and at what level of production is his average cost minimum
Immigration is not a "Republicans vs. Democrats" issue in the US Congress. In both parties there are intra-party divisions with regard to a more open immigration policy.
When a household buys a new house, does that represent consumption, saving, or investment? What factors may influence a household when deciding between buying stocks, bonds, or a house?
Given the same minimum wage and training program
Economists generally dislike the restriction of trade because it
The Babylonians studied problems which lead to simultaneous linear equations and some of these are preserved in clay tablets which survive. For example a tablet dating from around 300 BC contains the following problem:-
For every penny that the price of gasoline goes up, the U.S Postal (USPS) service experiences a monthly fuel cost increase of $8 million. State what assumptions you need to make to answer this question
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