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(2) Advertising: Assume a firm's advertising elasticity is known to be 0.8. Assume a firm's advertising elasticity is known to be 0.8. The firm's demand function is given by Q=100 - 2P. The firm charges a price of P=$3.50 for its product. Calculate the profit maximizing level of advertising per sale. How does the "rule of thumb" for the profit maximizing advertising per sale level change if MC is equal to zero. Provide the new equation and explain!
Explain, using demand and supply curves how demand and supply would change for the introduction of a new supermarket into Australia and Create a market demand schedule
Demand determine prices in a free market system.
My term paper will be about oligopoly market where the market in oligopoly situation is dominated by few number of sellers and would lead to a higher prices for consumers for the product or service they are getting.
Suppose you are the manager of a California winery. How would you expect the following events to affect the price you receive for a bottle of wine?
As part of the preparations for the arrival of a hurricane, NC residents sought to buy electricity generators. As a result, you expect that in NC
Some economists have argued that if the government wishes to subsidize health care, it should instead provide predetermined sums of payments (based on the type of health care problems experienced) directly to patients, who then would be free to ch..
Explain. A family buys a new refrigerator, Aunt Jane buys a new house, Ford sells a Mustang from its inventory, You buy a pizza, California repaves Highway 101, Your parents buy a bottle of French wine, Honda expands its factory in Marysville, Ohi..
What is meant when a monopoly firm is described as a price maker? How is a price maker different from a price taker? Is a monopoly ever a price taker?
Which of the following kinds of unemployment is the hardest to reduce?
Suppose the production function is C = L(0.5) x M(0.75), does the production function exhibits increasing returns to scale, decreasing returns to scale or constant returns to scale? Explain your answer.
Someone who lives in an apt. buys a Wayne Newton CD and then blasts it at full volume at 3am.
in the short run a firm operating in a competitive industry will shut down if price isa. less than average total cost.
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