Logic of producing winter clothing
What is the logic of producing winter clothing in countries whose residents have very little demand for such clothing?
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Suppose that at the current price, the price elasticity of demand for a campus film series is 1.40. If the objective of the film society is to maximize its total revenue (price times the number of tickets sold), should it increase or decrease pric
According to the neoclassical theory of distribution, the real wage earned by any worker equals that worker"s marginal productivity. Let"s use this insight to examine the incomes of two groups of workers:
Legal Beagals Inc. is a legal services firm that files incorporation papers for small businesses. They charge $1,000 per application. This year's income statement shows the following:
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In the first half of the twentieth century AT&T held an almost total monopoly on local and long distance phone service. The firm charged a price for local telephone services that was roughly one-half of its cost of providing the services.
Comment on this trade off between equity and growth. 2. How would you go about resolving the issue if you were the president of a small poor county?
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