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1. If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is
2. If the absolute value of a demand elasticity is less than 1, then
3. If the cross-price elasticity is negative, then the two goods are
4. Under perfect competition, a firm maximizes its profit by setting
5. In a large city, a good, real-world example for perfect competition would be
6. A firm under monopolistic competition will earn
One person using one computer can produce 11,000 typed pages per year, and the price per page for your service is $2. Depends on the costs and revenues above, which should you do. Elucidate and show any relevant calculations.
After paying the movie distributors and meeting all other noninterest expenses, the owner expects to net $2 per ticket sold. Construction costs are $1,000,000 per screen. What is marginal benefits and marginal costs.
Does the company behave like a monopoly or more like a competitive firm? Has the monopoly been cited for monopoly behavior?
What interests or surprises you about the summary table? How does that rate compare with the rate in the previous month or quarter? Discuss the differences in unemployment rates by gender, age, education, etc.
Assume this economy is closed to trade, and compute consumption, government purchases, national saving, and investment.
Show the balance sheets of Swede world only commercial bank after the initial deposits
Calculate point price elasticity a a price of $3 and calculate the point price elasticity at a point of $9. Is the demand price elastic or inelastic at these points?
A committee of 4 has to be chosen from 12 representatives, of whom 8 are men and 4 are women. If selection is random what is the probability that.
Evalute the percentage change for the two years. Explain the drastic change and what this meant for the U.S. population.
Illustrate what should be the production level if the producer operates in a monopolistic competitive market where the cost of software at each possible quantity
If an option existed for an equivalent computer system to be purchased for $810 per month, paid at the end of each month in 2012, should they take this plan instead? Explain Answer!
Explain the concept of countertrade. When does counter trade make sense? How does counter trade help solve the nonconvertability problem?
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