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Consider the following demand schedule for movie tickets
Price Quantity Demanded (Ticket per day)
9 100
8 200
7 300
Suppose the price of a movie ticket falls from $9 to $7.
a. Calculate the price elasticity of demand for movie tickets:
b. Is demand for movie tickets elastic or inelastic?
c. What is the change in the total revenue from the sale of movie tickets.
The California Instruments Corporation, a producer of electronic equipment, makes pocket calculators in a plant that is run autonomously. What price should the manager charge for the calculators?
Compute the cross price elasticity with respect to chicken price, the advertising elasticity and the income elasticity using the information listed
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The business world become more competitive. If we are to compete with firms in Singapore, Indonesia, and Malaysia, we must keep our costs down. Labor accounts for 75 percent of expenses.
Those who advocate that the Federal Reserve target monetary aggregates usually argue that the Fed should not alter its monetary targets in response to temporary changes in macroeconomic conditions
Illustrtae what were the challenges that these policy makers perceived at the time in terms of both the Business Cycle and broader social policy.
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Discuss and explain the components of GDP in the output approach and in income approach, NDP, NI, PI, and DI.
Illustrate what are the different types of exchange rate, their advantages and disadvantages.
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