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Suppose that an oligopolistic is charging $21 per unit of output and selling 31 units each day. What is its daily total revenue? Also suppose that previously it had lowered its price from $21 to $19, rivals matched the price cut, and the firm's sales increased from 31 to 32 units. It also previously raised its price from $21 to $23, rivals ignored the price hike, and the firm's daily total revenue came in at $482. Which of the following is most logical to conclude? The firm's demand curve is
(a) inelastic over the $21 to $23 price range,
(b) elastic over the $19 to $21 price range,
(c) a linear(straight) down sloping line, or (d) a curve with a kink in it?
1. Under the gold standard, there was penalty for running a payments deficit but no penalty for running a payments surplus.2.The Bretton Woods Agreement was intended, in part, to make adjustment more symmetric between deficit and surplus countries..
what are the major areas of influence when planning for an integrated marketing communication imc program? list the
Suppose the demand for total snuffbox production is given by Q = 1,100 – 50P. What will be the equilibrium in this marketplace.What will each firm’s total short – run profits be.
all other factors held constant what would be the effect on the demand for money m1 of each of the following
Question: Do brief research on ASEAN Economic Community (AEC) and discuss on the following questions: How does the AEC affect the multinational firms investing in AEC members? What is the effect of AEC on the U.S. economy?
Am I right in saying an isoquant for an output produced using 2 inputs that can be perfectly substituted for each other can be represented by a straight line
Graph the demand and marginal cost curves and calculate and indicate on the graph the equilibrium price and quantity
Suppose you are studying the market for shoes. Two events take place simultaneously. First, price of leather decreases, and second, consumers' income increases. What will happen to the equilibrium price and equilibrium quantity of shoes
Question on Production Possibility Frontiers: Studying or Socializing? , The Social and Detail Division of Labor, Methodological individualism and social science
Give one business example for increasing returns to scale and decreasing returns to scale respectively. How does this characteristic affect its business strategies? Justify your arguments.
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition. What is the goal of creating a brand name for each
A poor person who has an income of $1,000 receives $100 worth of food stamps. Draw the budget constraint if the food stamp recipient can sell these coupons on the black market for less than their face value.
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