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Suppose the Demand for baseballs is given by Q = 240 – 8P.
a) What is the price elasticity of demand when P = 6?
b) At what price will Total Revenue be maximized?
c) What is the firm’s Marginal Revenue when the price is $5?
Assume re are three possible policies, X, Y and Z, person 1 prefers X to Y to Z and person 2 prefers Z to Y to X. Model this situation as an extensive game and find out its Nash equilibrium
Determine whether each of the following increases, decreases, or remains unchanged in the short run: the market interest rate, the quantity of money demanded, investment spending, aggregate demand, potential output, the price level, and equilibrium r..
Illustrate what is the likely bargaining negotiation outcome if the advertisers bargain by telling each newspaper that they're going to reach agreement with the other newspaper.
Illustrate what price should firm charge to realize targeted profit. Illustrate what would be its (cost-based) mark-up ratio.
Chris consumes only 2 goods, Suppose his utility function is U(X1,X2)=X1 1/3,X2 2/3, Suppose P1 =$2,P2= $8 and income(I)=$600 I want to know how to do the problem, so I need to see all the steps it takes to arrive at the correct answers for a,b and c..
first assume that all us produced wheat is consumed domestically and there are no wheat imports. next assume that the
Discuss the ethical issues relating to corporate spending, both in for-profit and not-for-profit.
Give an example of a situation in which outsourcing had a positive impact on an organization or country or one in which outsourcing had a negative impact on the organization or country.
If Jim is putting money into a savings account. He puts in $100 monthly. At the end of each year he gets a $500 bonus from work that he also deposits. If the savings account has a 5% interest compounded monthly, what will his future savings be in 5 y..
Is it a local, regional or national monopoly. What are some of the Barriers to Entry into this industry.
Why do cotton growers spend billions of dollars to dam rivers and transport water hundreds of miles to grow cotton in California deserts?
Policymakers should have a detailed knowledge and profound understanding of all theoretical models and should design economic policy based on that knowledge.
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