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Suppose the demand for Digital Video Recorders (DVRs) is given by Q = 250 - .25p + 4pc, where Q is the quantity of DVRs demanded (in 1000s), p is the price of a DVR, and pc is the price of cable television. How much does the quantity demanded for DVRs change if the p rises by $40? Please solve and show all steps and explain.
The price elasticity of demand is -1.2. What type of elasticity is this?
Consider a project that will bring in upfront cash inflows for the first two years but require paying some money to close the project in the third year.
The Lemon Test involves the Supreme Court's interpretation of which of the following constitutional provisions?
Speculate about why people in higher income groups vote for reasons that are borne out of a sense of duty rather than from economic interests.
Why do economists differ as to the appropriate economic role of the state? What is deflation? What threat does it pose? What are the distributional consequences? What are the distributional consequences of inflation? What was the so-called "Keynesian..
Susan Jones has a job as a pharmacist earning $45,000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $55,000 per year or to purchase a pharmacy that generates revenue of $250,000 per year. What would ..
State the rule for optimum input allocation to produce a given level of output at the lowest possible cost - when two inputs are varieable and the prices of the inputs are given- and explain why it makes sense.
Suppose that OPEC raises oil prices by 50 % in 1998. What effect will this have on the US aggregate demand curve? On the US short run aggregate supply Curve?
Joe has never trusted banks and always kept his money in cash. Joe pulls out his money jar, discovers that it has $20,000 in it, and decides it is unsafe to keep that much cash. Joe stops at the Local
If economists wish to determine relative factor abundance across countries, why don’t they simply calculate w/r ratios across countries and then compare these ratios?
If homeowners purchased a $250,000 home with a zero-down, interest-only mortgage, and the value of the home subsequently fell to $200,000, in order to sell the house and move to another city, the homeowners would be required at closing to pay (in add..
Which industry would be the best example of an oligopoly?
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