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In an attempt to increase revenues and profits, a firm is considering a 4 percent increase in price and an 11 percent increase in advertising. If the price elasticity of demands is -1.5 and the advertising is +0.6 would you expect an increase or decrease in total revenue?
Determine the two equal deposits, the first deposit required now and the second deposit at the end of year 6, so that you can withdraw $2,000 at the end of each year for the next 12 years. Assume that money earns 4% interest, compounded monthly.
Suppose the demand for Cardinal's World Series tickets is Qd = 48, 061 ? 2.4P (for the purposes of this problem, we will suppose that fans do not care where they sit). The Cardinals play at Busch Stadium, which has a seating capacity of 46,861. Th..
buy a computer for $2,500 now, keep it for 8 years and then sell it for $800. The computer is not expected to require any maintenance for the first 3 years, but starting in year 4, the maintenance cost will be $250 per year. Alternatively, you can..
The Metropolitan Symphony in Toledo, Ohio, has had great success with a "Senior Citizens' Night" promotion. By offering half off its regular $20 admission price, average nightly attendance has risen from 4,000 to 6,000 persons.
A friend of yours just bought a new spots car with a $5,000 down payment, and her $30,000 car loan is financed at an interest rate of 0.75% per month for 48 months. After 2 years, the "blue book" value of her vehicle in the used-car mark..
a. Calculate the marginal revenue product for each additional unit of labor if output sells for $3 per unit b. Draw the demand curve for labor based on the above data and the $3-per-unit product price c. If the wage rate is $15 per hour, how much lab..
What are the levels of saving and actual investment In which direction and by what amount will unplanned investment change as the economy moves from the $410 billion level of GDP to the equilibrium level of real GDP
If you used the uncompensated demand curve to calculate the change in consumer surplus, would your calculation be too high or too low?I. Provide a graph showing the initial outcome, the outcome after price change, the income effect, the substituti..
You have been hired to manage a small manufacturing facility whose cost and production data are given in the table below. Workers Cost Output Revenue 1 $300 50 $350 2 600 140 675 3 900 ..
Suppose that the inverse demand for shale gas is given by p = 400 - 2q. The private marginal cost of producing shale gas is PMC = 100 + q. Suppose that in order to produce shale gas at the PMC given above, the oil and gas (O&G) companies (that pro..
(a) Calculate the equilibrium quantity and price for peaches. (b) Calculate the point price elasticity of demand and point income elasticity for peaches at the equilibrium. Also calculate the point cross price elasticity between peaches and aprico..
Recall from introductory economics that an raise of $1 in government spending may raise GDP through more than $1. The exact value by which GDP goes up is multiplier.
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