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Choose two real-world companies in different industries, one that you feel faces elastic demand and one that you feel faces inelastic demand. In each case, you are an economist working in the company and you have come to a conclusion of what kind of demand the company faces. You are to write a paper, convincing the president of the company of your conclusion and explaining what the company's pricing strategy should be.
suppose a single parent can work up to 16 hours per day at a wage rate of 10.00 per hour. various income maintenance
If the material costs were $140,000 per quarter and the service charges were calculated as 20% of the material costs, what is the present worth of the contract through the 3 year treatment period at an interest rate of 1% per month
There is a lot in the news about capitalism and socialism, and it appears that the words are thrown around without a lot of understanding about what they actually mean. Your assignment is to research both "isms" and find the following.
Suppose that the market for cigarettes in a particular town has the following supply and demand curves: Qs = P; Qd = 50 - P with quantities measured in thousands of units. Suppose the town council needs to raise $300,000 in revenue
Find information about labor market statistics of your local community over the last 3 years
Q 1 5 20 bags. Q 2 5 15 bags. Q 3 5 27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price at g is $31 per bag. Apply the formula for the area of ..
Suppose a company owns two plants, plant A and plant B. The total cost functions are as follows Plant A: TCA = 5qA + 0.1qA2 Plant B: TCB = 5qB + 0.2qB2 1. Suppose that the company is a price taker and the market price is $10.
Illustrate and explain what effect these changes have on the equilibrium price and quantity of changes
Consider a farm with 1500 acres total where 1000 acres are in wheat and 500 are in soybeans. Wheat yield is 90 bushels/acre, wheat price is $3/bushel, and total operating expenses per acre are $100. Soybean yields are 35 bushels/acre, soybean pric..
Deliverable Length: 1 graph plus calculations You must give up your full-time job, which paid $50,000 per year, and you worked part-time for half of the year. The average retail price of the cookbooks will be $30, and their average cost will be $2..
Weekly demand and cost relations for Sandpiper Products, Inc., are given by the equations P = $180 - $10Q (Demand) TC = $75,000 + $5Q + $7.5Q2 Where Q is the quantity produced and sold per week. a. Determine the profit maximizing price and output. (Q..
An outer beltway is being planned for a metropolitan area in your state. The initial cost is estimated to be $150M. Benefits are expected to be $8M a year. Annual maintenance costs are expected to be about $800K.
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