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If you were hired as a consultant to increase Revenue for a shoe retail store, what would you do first and explain why
a. Decrease costs across the board
b. Find out elasticities of the products and increase the price on the inelastic shoes
c. Find out the elasticities of the products and increase the price on the elastic shoes
d. Increase the price on all shoes
Explain the steps that would be used to conduct a Benefit-Cost Analysis of a government policy to alleviate the problem.
Assume your town decides to levy a tax to raise funds for construction, maintenance also other expenses for local schools. Should the tax be proportional, progressive or regressive.
That of the following would mostly likely cause the Demand for miller beer to reduce.
What supply curve of turkeys shifts leftward. Tthe demand curve for turkeys shifts leftward ?neither the demand curve nor the supply curve shift; instead there is a movement along both curves.
Explain how does price elasticity affect the price-quantity combination and segment of the demand curve that the monopolist would prefer for price and output.
Explain how do these two relate to each other in the Circular Flow Economy and to the Government and Foreign Sector components.
Explain which of the two classmates would you prefer as a partner. Would he also want you as a partner.
Assume that all other banks hold only the required amount of reserves.
Elucidate how the market system efficiently performs the functions of communication, cordination, and motivation in the distribution of resources to consumers.
South Korea can produce a maximum of 600 million toaster ovens or 900 million tons of rice per year. The U.S. can produce a maximum of 700 million toaster ovens or 1,000 million tons of rice per year.
Adjust the following graph to show the changes in the market between 2001 and 2002.
Distinguish among microeconomics also macroeconomics also identify some relevant topics to each
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