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A price change causes the quantity demanded of a good to decrease by 30 percent , while the total revenue of that good increases by 15 percent. Is the demand curve elastic or inelastic ? Explain?
Explain how many popsicles will be sold every day in the short run if the price rises to $2 each. In the long run, if the price rises to $2 each.
The depreciation schedule for certain equipment has been arrived at by various methods. The estimated salvage value of the equipment at the end of its 6 year useful life is $600. Identify the resulting depreciation schedules. Year A B ..
Describe the factors in Michael Porter's "Five Forces Model" that affect the ability of any comapny in an industry to earn a profit.
Utilizing the economists model of individual choice comparing the marginal costs and marginal benefits of a choice.
Val Hawkins borrowed $15,000 at a 14% yearly rate of interest to be repaid over 3 years. The loan is amortized into three equal annual end-of-year payments.
Suppose your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs;
Which nation has the absolute advantage in the production of tanks. Why is it this country? Which country has the comparative advantage in the production of computers.
Physical capital, Natural resources, Human Capital and Technical Knowledge, should it be Government policy to subsidize the production or acquisition of all or these?
Are you a Classical or Keynesian economist? Pick a perspective and defend.
Choose five innovations associated with the Industrial Revolution and five innovations from the Technological Revolution. For each innovation, identify the effects it had on individuals, societies, businesses, and politics.
Suppose if the table shows the demand faced by a monopoly firm then what is that firms marginal revenues
Assume that (a) the price level is flexible upward but not downward and (b) the economy is currently operating at its full-employment output. Other things equal,how will each of the following affect the equilibrium price level and equilibrium level o..
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