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Suppose the market for HDTV'S in the USA can be expressed by the following demand and supply equations:
Qd = 7500 - 2400PQs = 600P
Where Q is the number of HDTV'S and the price P is in thousands of dollars.
a) draw demand and supply on a graph
b) calculate the equilibrium price and quantity that will prevail in a free market.
c) calculate the price elasticity of demand and the price elasticity of supply at the equilibrium.
In developing nations, young women have lower enrollment rates in secondary school than do young men. Describe several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.
ntroduction of the Verson Stamping Machine helped firms in the automobile industry: shift their AVC, ATC, and MC curves upward. achieve greater economies of scale. reach their minimum efficient scale at a lower level of production.
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There are 100 dog kennels in Atlanta. An economist studying the pricing behavior of dog kennels tells you that she is limiting her analysis to a time period that does not allow for any new dog kennels to enter the industry or for any established d..
Discuss and explain how coaching rather than managing people can enhance a leader's understanding of RQ and therefore provide a better understanding of their followers.
If the price elasticity of demand for bananas is -1.5 and the price elasticity of demand for grapefruit is -2.5, and the marginal cost of producing each of the items is $0.50 each, what is the profit-maximizing price for each?
How big will that budget have to be before he would spend a $1 buying a first cup of coffee?
A bond with no expiration date has a face value of $10,000 and pays a fixed 10 percent interest. If the market price of the bond rises to $11,000, the annual yield approximately equals.
Let px be the price of good X and py be the price of good Y. Assume the income of this individual is strictly larger than 10px Derive the demand for good X and the demand for good Y as functions of the two prices and income.
An economy is currently made up of a firm that produces bread, a firm that produces butter, and a consumer who consumes both bread and butter. Current production is 100 units of bread, 50 units of butter which the consumed by the consumer.
How does the amount of unemployment created by an increase in the minimum wage depend on the elasticity of labor demand do you think an increase in the minimum wage will have a greater unemployment effect in the fast-food industry or in the lawn-c..
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