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Suppose a firm has a constant marginal cost of 10$. The current price of the product is 25$, and at that price it is estimates that the price elasticity of demand is -3.0
a) Is the firm charging the optimal price for the product? Demonstrate how you know.
b) Should the price be changed? if so, How?
Edgemont Company had revenues of $230,000 and expenses, including income taxes, of $190,000. On December 31, 2005 Edgemont had assets of $350,000,
Evaluate the following policies in terms of their effect on "the greatest happiness the greatest number." (Think about market failures and failures of markets: how do the policies suggested correct problems with the functioning of the market
Distinguish between private and social costs and use this distinction to explain why the air in cities is so polluted from automobile exhaust fumes. Examine how government can try to correct this externality.
A perfectly competitive firm should hire an additional worker only if the employee 's marginal revenue product is less than the wage rate.
Discuss and explain the concept of the macro economy. Determine the major performance goals that we set for the economy, and how do we measure the performance?
Economists consider which of the following costs to be irrelevant to a short-run business decision? In economic analysis, any amount of profit earned above zero is considered above normal because,
Describe the spot and 12-month forward exchange rates and determine any change in the ROS repatriated in 12 months based on exchange rates versus the current forecast.
eBay.com is a vast auction site that is similar to a competitive market in some ways but also differs from it in others. Which of the following describes how eBay resembles a competitive market.It is easy to enter and easy to leave eBay.
Critically examine the basic formulations of the harrod- domar model of economic growth. how does the harrod model explain the occurrence of trade cycles?
Elucidate the effectiveness of these staffing practices and selection tools in meeting current and future employment needs of the organization.
Please Analyze the supply and demand of goods or service of Subway restaurant, think what your Subway produces. Determine some things that would change the demand for their product?
If the US dollar depreciates dramatically relative to the Chinese yuan.what effect would this have on consumers and businesses in each country.
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