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Q1. Used music CDs rise in price from $7 to $8, and total revenue falls from $700 to $640.• a. Is the demand curve over this range elastic or inelastic? Why?• b. Using the midpoint formula, what is the value of the elasticity of demand over this range?
Q2. Suppose that increased international trade makes product markets more competitivein U.S., would we expect to observe an upward slope on the WS curve or the PS curve , or would it be a downward shift?
What is the difference between framework convention and a protocol? What are the advantages and disadvantages to a two-stage approach to negotians? Why do most negotiations for globl environmental regimes end up taking a two-stage approach?
ohn also Jeremy are utilitarian's. John believes to labor supply is highly elastic while Jeremy believes to labor supply is quite inelastic.
A basic theory of underlying macroeconomic behavior and therefore useful for making policy predictions. Briefly explain.
illustrate what price should it charge and how many DVDs should it order from each supplier.
An industry which generates detrimental externalities will have a marginal social cost higher than the marginal private cost to the industry.
illustrate what can you say about the price elasticity of demand for DVD players. Will this price reduction necessarily lead to an increase in profits for DVD player manufacturers.
Assume that every driver faces a 1% probability of an automobile accident every year. An accident will, on average, cost each driver $10,000.
Illustrate what fraction of the total variation in trades of Bright Side remains unexplained.
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
What is the optimal transfer price for the basic plastic item . At what price should the marketing division sell its product.
Elucidate how should Microsoft market long distance telephone services in the new wireless telecommunications devices which also include Internet portals.
As result government increases border patrols to catch illegal shipments. U.S. Customs agents perform DNA testing on the caviar to conclude
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