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A small supermarket is trying to determine how many copies of PEOPLE magazine it should order next week. The owner believes the demand for PEOPLE is governed by the following discrete random variable:
Demand Probability
15 0.1
20 0.2
25 0.3
30 0.25
35 0.15
The Supermarket pays $1.00 for each copy of PEOPLE and sells it for $1.95. Each unsold copy can be returned for $.50. How many copies of PEOPLE should the store order?
A perfectly competitive painted necktie industry has a large number of potential entrants. Each firm has an identical cost structure such that long-run average cost is minimized at an output of 20 units (qi=20). The minimum average cost is $10 per..
Why does the short-run market supply curve for a product slope upward to the right? Why does the long-run market supply curve generally slope upward to the right?
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Northern Granite Corporation, a corporation in New England, installs granite counter tops in houses. When it 1st entered the business, price per foot for installing a granite counter top was $180 per square foot,
please answer true or false and explain your answer using a graph.suppose the price of x goes up and a consumer goes on
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What is the formula for measuring the price elasticity of supply Suppose the price of apples goes up from $20 to $22 a box. In direct response, Goldsboro Farms supplies 1200 boxes of apples instead of 1000 boxes.
For which types of business organization is unlimited liability going to apply to - a sole proprietorship, a partnership or a corporation? Now explain out of those business organizations, for which one will unlimited liability be the greatest prob..
Both countries have the same rate of depreciation (5%). Use the Solow model to calculate the ratio of their steady state levels of income per capita, assuming ? =1/3. a) Verbally, interpret your answer. b) How would your result change if ? =1/2?
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Discuss how to use Coase theory to see mandated mercury emissions and what do you think Coase would say to a supporter of free market environmentalism.
according to a study of u.s. cigarette sales between 1955 and 1985 when the price of cigarettes was 1 higher
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