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1) Explain the relationship between the price elasticity of demand and total revenue. What are the impact of various forms of elasticity (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Explain using empirical examples.
2) Is the price elasticity of demand or supply more elastic over a shorter or a longer period of time? Why? Give examples.
3) What are the impacts of government and market imperfections (failures) on the price elasticity of demand and supply?
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What is the percent value of a perpetual stream of cash flow that pays $30,000 at the end of year one and then grows at a rate of 3% per year indefinitely? The rate of interest utilized to discount the cash flow is 11%
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a hotel chain which gives it priority access to 25 percent of its rooms in major tourist destinations throughout the year. The contract encourages the hotel chain to increase the number of rooms in each of these hotels.
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Using the intermediate macroeconomic
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Which of the following have traditionally been considered natural monopolies? Public universities, Public golf courses, public parks,public utilities
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