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Wilpen Company, a price-setting firm, produces nearly 80 percent of all tennis balls purchased in the United States. Wilpen estimates the U.S. demand for its tennis balls by using the following linear
Jacksonville Technical College received $3,445,553 in state aid on September 15 for the fall academic semester. The vice-president for finance decided to invest $2,000,000 in a 2-month investment that
Entrepreneur edward is planning to open a business selling ice cream. he knows that the price of ice cream is determined by the forces of supply and demand but wants a report outlining five specific e
Compute the economic profit of the firm if Sales-10000,material cost-3000,labour cost-2000,Administration cost-1000,own capital invested is 20000 and opportunity cost of capital 10%.
The tire shop sells 50 tires a day at $75. After they raise the price on tires to $85, they now sell 46 tires a day. What is the elasticity of tires at the tire shop? A) Inelastic B) Elast
A copy company wants to expand production. It currently has 20 workers who share eight copiers. Two months ago, the firm added two copiers, and output increased by 100,000 pages per day. One
Suppose that the residents of Veggieland spend all of their income on cauliflower, broccoli, and carrots. In 1998 they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 ca
If in 1984, measured GDP in Canada was $400 billion, and in 1985 it was $440 billion, Explain why we cannot necessarily conclude that the typical Canadian's welfare has improved by 10-percent over t
How does the expenditure approach calculate GDP? A. It adds up all the incomes in the economy. B. It adds up the value of four groups of final goods and services. C. It adds up the valu
If the price of a product produced in a competitive market increases. which of the following is most likely to occur in the labor market for workers who produce the product? A) the demand for l
Someone advocates using fiscal policy to stimulate the economy and reduce unemployment. Which of the following might this person advocate to implement the fiscal policy?A) increase federal spending&
Paper currency is the most easily recognized form of money. How will does paper currency serve the functions of money if we have an inflation rate of 50-percent per year? Gold is also recognize
It is often suggested that the Bank of Canada try to reduce the inflation rate to zero. If we assume that velocity is constant, does this zero-inflation goal require that the rate of money growth equa
Market analysts often use cross-price elasticities to determine a measure of the “competitiveness” of a particular good in a market. How might cross-price elasticities be used in this ma
Find the future value one year from now of a $7,000 investment at a 3% annual compound interest rate. Also calculate the future value if the investment is made for 2 yeaars.
Classical macroeconomics theory concludes that ultimately A. Fiscal policy generates only quantity effects B. erratic investment causes long business cycles C. Functional finance cures
Suppose the demand curve for a monopolist is QD =500 - P, and the marginal revenue function is MR =500 – 2Q. The monopolist has a constant marginal and average total cost of $50 per unit.&
Brian is taking three courses this semester: economics, statistics, and finance. He has decided to spend 19 hours per week studying in addition to attending all his classes and his objective is to max
I know that Market Failure occurs when markets lead to inefficiency. But what are the reasons that cause Market Failure? please explain in detail.
write a paper explaiing issues that bring concern to pricing your services and products. What ethical challenge will you face in hiring non CPA's.What standerds apply.
Using the concept of opportunity cost, explain why in developed countries with higher average incomes there is more support for costly environmental controls which raise goods on goods than in poorer
Say your parents give you a car for your birthday. It is not the new model you wanted, but it's in very good condition. They bought it used for $15,000 market value. The cost of keeping the car to you
Suppose a firm has a constant marginal cost of $10. The current price of the product is $25, and at that price, it is estimated that the price elasticity of demand is -3.0. a. Is the charging the
To improve its standard of living, a nation’s economy must A. remain stable. B. grow through innovation. C. reach economic equity. D. allow the central government to make eco
You have been hired by a local used car dealer to help in their pricing of used cars.They want to know whether the prices of the cars they sell are more influenced by the age of the car or by the mile