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The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4000 skateboards. The company believes the price elasticity for this product is about -2.5. If it decreases the price to $63, what should be the quantity sold? Will revenue increase? Why? Show all work
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitute's one product for another. Use examples to illustrate.
Suppose that an increase in consumer confidence raises consumer expectations of future incomes and thus amount y want to consume today this might be interpreted as an upward shift in production function how does this shift affect investment and r..
What does Friedman mean when he says the Earth is becomming "hot, flat, and crowded?" Describe three of the key problems that Friedman identifies in the book and explin why they re important.
Both banks that each of their entire $20 million loan package will be written off as bad loans. Will any of the two banks survive this crisis? Explain carefully.
You are making $1,000 quarterly deposits into a fund that pays 8% interest compounded quarterly. What would the balance be at the end of 10 years?
Use this information to find the Equilibrium Price, Quantity and Revenue in the market.
Elucidate however, was 3 percent in Finland also 1.8 percent in France. From this we can conclude that France's every capita GDP
You arranged the subsequent information to use in evaluating the financial feasibility of starting your own agency.
government official proposed which gasoline price controls be imposed to protect the poor from rising gasoline prices.
Discuss several reasons why the labor market is not as felxible as it used to be? Identify and outline (in detail) the three reasons the article gives for why there might be "structural obstacles to job growth"
A new Taurus bought in 1994 cost $18,680 and it could have been sold as used in 1995 for $12,600.
Walmart founder Sam Walton amassed an enormous fortune in discounts retailing one of the most viciously competitive markets imaginable.
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