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During a specific period of time, the average price of long-distance calls fell from $0.25 per minute to $0.15. As a result of the drop in price, average long-distance calling per person per month increased from 300 minutes to 400 minutes.Using the midpoint method, calculate (show your work) the price elasticity of demand for long-distance call.
wyandotte chemical company sells various chemicals to the automobile industry. wyandotte currently sells30000 gallons
the following questions address some of the price and output decisions faced by firms other than those found in perfect
if the government wanted to use a food tax in order to significantly reduce the quantity of sweet and sugary drinks we consume, this could be accomploshed with a relatively small food tax on these drinks if: demand was elastic, demand was inelast..
suppose your firm produces olive oil in a perfect competitive market and is currently earning zero economic profits.
Define a natural monopoly and what has happened to natural monopolies in recent years? Describe. Under which market structure does your type of business fall?
analyze the economic theories that are germane to the provision of health services and comment on how one or two
What does the cost of a good or service reflect? Will producer continue to supply a good or service if consumers are unwilling to pay a price sufficient to cover the cost?
Where would you plot unemployment on a production possibilities frontier? Where would you plot full employment on a production possibilities frontier? Now presume that is a time of crisis everyone pitches in and works much harder than usual. What hap..
Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices. What impact do you suppose farm subsidies are likely to have on the following?
you are a manager of a large rehabilitation center that provides short-term care rehabilitation services on an
Explain your question and receive the step-by-step response ASAP. Describe in detail one factor which makes an industry a competitive industry and provide a real life example of this factor at work.
select a nation that has a low per capita income and discuss how the catch-up effect would work for that country.
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