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Q. Given your answer in part b, if PX would increases by 10%, by what percentage would sales decrease? What impact would this price increase have on total revenues from good X?
Given that PY = $1.300, ceteris paribus, calculate the cross price elasticity of demand for product X with respect to the price of product Y.
Given your answer in part d, how could we classify product X and product Y?
Assume that PY increases by 15%, what percentage effect on quantity demanded of product X could be expected?
determine the output that would generate a total profit of $60,000 and the total sales revenues at the output level; draw the cost-volume-profit chart.
Could not Ethiopia become a world class producer and exporter of goods? How would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic world powerhouse. What are the differences between the tw..
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
people who want to borrow to finance their investment spending. How are savers and borrowers brought together.
Illustrate what impression do you have of multinational firms that have operations in multiple countries.
Explain what is meant by "first-mover" advantage and how each of these firms was able to control a relatively large share of their respective markets.
A competitive firm that is profit maximizing pays a wage. The firm has started marketing its new product.
Business firm that holds a global monopoly on a particular product but is currently selling the product only in its domestic market where its profits are substantial.
Illustrate which currently operates out of an office in a small town near Boston, just discovered a vacancy in an office building in downtown Boston
Illustrate what is the expected return of the remaining portion of Peggy's portfolio.
Illustrate the significance of resource pricing explain rule or criteria of employing for resources under pure and perfect competition.
Describe two ways in which greater education opportunities for girls could lead to faster economic growth.
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