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Feelgood pharmaceuticals has developed a new treatment for asthma. The tablets are sold individually. You study survey data and observe that if the tablet cost $5, then 100 tablets are demanded. You also observe that if the tablet cost$3, then 150 tablets are demanded. Can the price elasticity of demand be calculated? If so, calculate the PED. Is the PED elastic or inelastic.
The football coach at a midwestem university was given a 5-year employment contract that paid $225,000 the first year and increased at an 8% uniform rate in each subsequent year. At the end of the first year's football season, the alumni demanded tha..
Suppose that the production function for floppy disks is given by Q = KL2 L3 where Q is the number of disks produced per year, K is machine-hours of capital, and L is man-hours of labor flow of capital service. a) Suppose K=600. Find the total produc..
Illustrate what are the arguments for using real per capita GNI to compare living standards between countries. What weakness does this measure have.
Suppose there are two candidates disputing election in a linear city defined on the interval [0, 1]. There is a continuum of voters uniformly distributed on the interval [0, 1]. Voters closer to the point 0 prefer more conservative candidates, and vo..
How do tariffs work? Illustrate by referring to U.S. lumber imports from Canada, suing any set of quantities and prices to make your point. Public housing and public protection are two of many goods that government provides. One is considered a publi..
Licensing the brand name and symbol is an important source of revenue for Harley. What types of products do you think do not fit with the Harley image and therefore are not good candidates for licensing by Harley? Develop a list and discuss your sele..
Indicate whether the following events would cause an? "increase or a decrease in demand or an? "increase or a decrease in the quantity demanded?" for? cable-based Internet access? service, which is a normal good.
Illustrate what is your conclusion about the claim made by the diet program
A monopolist faces a market demand curve given by: Q = 70 – P. This monopolist perfectly price discriminates among its customers. If the monopolist can produce at constant average and marginal costs of AC = MC = 6, the monopolist’s profits are equal ..
If France can produce grapes at a lower opportunity cost than any other nation, France is said to have a/n ____________in the production of grapes.
Which one of the following statements about total quality management (TQM) is TRUE?
What types of assets might a small business have? What types of debts (liabilities) might a small business have? What does a current ratio measure, and how do you calculate it?
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