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1. Suppose you have a demand function given by: Q = 600 ? 0.5P. What is the price at which demand elasticity is Ed = ? 2? Hint: Instead of using price to find elasticity, you will now have to use elasticity to find price. You can use the point elasticity formula.
2. Suppose you have a demand function given by: Q = 1600 ? 4P. What is the price at which demand elasticity is unit elastic? Hint: You can just find the midpoint!
q1. using supply and demand analysis to predict the effect of e-commerce on equilibrium output and equilibrium price of
In October 2011, Apple introduced the iPhone 4S, which had new features, including camera and voice control, but sold at the same price as the previous iPhone model. How did the introduction of the iPhone 4S affect the Consumer Price Index? What fact..
In this table below, Agoira moves from a command system to a market system
Sketch a well labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's, owners, the fans, or both.
Evaluate the importance of gold as an international asset. Discuss the historical importance of gold as an international reserve asset, including the functions it fulfilled. Finally, discuss whether the United States should return to the gold stan..
(i) Construct a payoff matrix for this game. (ii) Determine whether each firm has a dominant strategy and, if it does, identify the strategy. (iii) Determine the optimal strategy for each firm.
An automatic veto that occurs when Congress goes out of session within ten days of submitting a bill to the president and the president has not signed it, is known as
Given your experiences as a consumer, do you consider monopolies to be good or bad for the general public? In crafting your answer, feel free to refer to a specific situation that you may have encountered to illustrate your point. Credit for this que..
which in this case is lagged second difference. Note that it remains below zero after stock market crash of 1987. You can also do same thing for or variables. Are they fairly consistently away from zero. If so, can you design a rule to make money.
Ginny and Lucia are debating the use of coupons by grocery stores. Ginny says, "The use of coupons in grocery stores represents a means of price discrimination.
q.suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current dollars
A firm has a fixed cost of $500 in its first year of operation. When the firm produces 100 units of output, its total costs are $4,500. The marginal cost of producing the 101st unit of output is $300. Illustrate the total cost of producing 101 uni..
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