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Suppose that if there are n users of a network, the value of the membership is proportional to n(n − 1). If the value of a network to a single user is $1 for each other user on the network, then a network of size 100 has a value of:
a. $9,000.
b. $10,100.
c. $9,900.
d. $9,500.
e. $10,000.
The owner of a baseball team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be P = 22 - 0.2Q, where P is the average price of a ticket and Q represents the number of seats (expressed ..
Explain how might spending of Asians on American goods be affected. What about Americans who have invested in these countries.
q.consider the following demand as well as schedule for bottles of watercost p quantity demand as well as used by
Leading Auto Company was established in 1920. From its founding days, the company has built its reputation on producing quality vehicles at an affordable price.
Imagine an economy with two types of goods; those that are tradable T (goods that can cross borders) and those that are not tradable NT. The technologies to produce them out of labor are T(L) = 2LT and NT(L) = 4LNT. The total amount of labor in this ..
The initial price of a cup of tea is $1, and at that price, 400 cups are demanded. If the price falls to $0.90, the quantity demanded will increase to 500. Calculate price elasticity of demand for tea using the midpoint formula. Calculate the (point)..
a competitive industry is comprised of 15 identical firms, each with a short-run total cost function
In September 1995, Patrick Buchanan, a Republican candidate for U.S. president, proposed a 10 percent tariff on Japanese imports to the United States, a 20 percent tariff on Chinese imports to the United States, and an unspecified “social” tariff on ..
If county government offices required that all employees must live within the county limits, what impact would this have on the elasticity of demand for employees of the county government offices?
Illustrate what are elements of Circular-Flow Diagram. Illustrate what concepts does diagram illustrate.
Suppose the own price elasticity of market demand for retail gasoline is -0.5, the Rothschild index is 0.4, and a typical gasoline retailer enjoys sales of $1,550,000 annually. What is the price elasticity of demand for a representative gasoline reta..
In 2009 General Motors (GM) announced that it would reduce employment by 21,000 workers. What does this decision reveal about how GM viewed its marginal revenue product (MRP) and marginal resource cost (MRC)? Why didn't GM reduce employment by more t..
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