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Price Elasticity of Demand and Demand Curves
Two drivers --- Tom and Jerry --- each drives up to a gas station. Before looking at the price, each places an order. Tom says, "I'd like 10 gallons of gas." Jerry says, "I'd like $10 of gas."
- What is Tom's price elasticity of demand and what does his demand curve look like (either verbally explain the shape of the demand curve or give an equation for the demand curve)?
- What is Jerry's price elasticity of demand and what does his demand curve look like (either verbally explain the shape of the demand curve or give an equation for the demand curve)?
Assume the government decides to pass a law that requires all businesses to delay all future layoffs, giving at least 3 months notice to any workers they plan to lay off.
A firm uses a single plant with costs C = 160 + 16Q + .1Q 2 and faces the price equation-Find the firms profit maximizing price and quantity. What is its profit?
As the manager of Pelican Point Financial Group, you are unable to determine whether any given individual is a high or low volume transaction investor. Design a self-selection mechanism that permits you to identify each type of investor.
Do you think that the World Bank is orientating its action in a right way or not and if not, any ideas of how to redefine its action.
The advent of the one man bus involved more capital equipment: an automatically operated coin box and door control device - to name two of the capital goods that replaced the conductor."
Illustrate what policies would you implement to help the economy reach full employment.
The public tends to view trade deficits with alarm while macoreconomics claims that trade deficits can actually be usefull for the economy. Discuss the macroeconomists position on trade defilicts
For several years, Palm was the dominant manufacturer of PDAs (personal digital assistants). However, a number of other manufacturers have since entered the PDA market.
Draw a diagram showing the current situation of the firm. In addition to the above information, suppose the price of the output is $13/unit, if the firm wants to maximize its profit, what should it do? Explain in detail with the aid of a diagram.
Suppose, in a given week, float raises $900 million, Treasury deposits at the Fed rise $1500 million, discounts and advances decline $200 million, and foreign deposits at the Fed increase $150 million.
Do the estimated coefficients have the required signs to yield a-shaped AVC curve? Discuss the significance using the p-values.
The president of a small industry has been complaining to his controller about rising labor and material costs.
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