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Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
q.problem 1 use 2 goods to construct a production possibilities curve. explain what a variety of different points on
If an earthquake decreases cement supply by disabling a major cement plant and increases demand by necessitating repair jobs, what does the model of supply and demand definitely predict for the cement market?
Show graphically, and with a few well-chosen sentences how a Major League Baseball team can help both itself and consumers by vertically integrating its local broadcasting network. You may assume that both the team and the broadcasting network start ..
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a popular mall. Compute the elasticity coefficients for price, advertising, income, and cross-price. You are currently paying $.45 for popcorn (including co..
Illustrate what is the elasticity of demand if you raise the price of your airline's tickets by 6% also the number of tickets sold decreases.
The annual opperating cost of the new operating machine is $7,000. The company uses a 20% MARR. Calculate the annual equivalent total cost for each machine. Would you replace the old machine at this time?
Describe in detail the mechanics of the Circular Flow model. Discuss how the government and international trade could be included in the circular flow.
At the end of the one-year contract, what will his "friend" offer John as the price for an extension of the deal?
The government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially before multiplier effects.
Is there a formula or vice versa a 50% markup on cost is equivalent to a markup on price of what. An answer of 50% for both just seems too easy.
Elucidate the role of differentiation in the market for pizza. Then apply the feedback critique to the role of differentiation in the industry.
Traditionally, taxi drivers were only paid by the mile. A couple of decades ago, Yellow cab experimented with paying the same per mile rate plus a fixed fee every time a customer got in the cab. How does this change driver behavior?
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