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The equation for a demand curve is P = 2/Q. What is the elasticity of demand as price falls from 5 to 4?
The equation for a demand curve is P = 48 - 3Q. What is the elasticity in moving from a quantity of 5 to a quantity of 6?
Suppose you could buy shoes one at a time, rather than in pairs. What do you predict the cross-price elasticity for left shoes and right shoes would be?
Think about products that would fall into each category. Can you come up with a name for each category?
In a market where the supply curve is perfectly inelastic, how does an excise tax affect the price paid by consumers and the quantity bought and sold?
Would you expect supply to play a more significant role in determining the price of a basic necessity like food or a luxury like perfume? Explain.
That is, what is an industry that could increase Qs almost without limit in response to an increase in the price?
For example, as you move up the demand curve to higher prices and lower quantities, what happens to the measured elasticity? How would you explain that?
What are your thoughts on the Bankruptcy Code? What are the advantages and disadvantages of the Code?
Read the "You Be the Judge" on p. 596 of the text. It is the case of Banta Properties v. Arch Specialty Insurance.
Consider the following endowment Overlapping Generations model where people live two periods.
What is causing the leftward shift in demand for golf?
Explain the value of economic analysis and differentiate the types of economic environments.
Under what circumstances are price factors more important than non-price factors during a source selection?
Description of the state of the US economy.
What is the difference between an economy of scale and an economy of scope?
A one page (double spaced) review of an article from a newspaper or internet source that discusses government policy with respect to business.
Can e-commerce platform be leverage to the advantage of plant-based food opportunities?
The article discusses how Medicare reimburses for services, specifically talking about fee-for-service and bundled payments.
Explain how the four primary financial statements are used to describe an organization's financial performance.
How do you think this influences the demand curve for indoor grill products?
Research and then write a forum reflection/post on --- "Sales management practices regarding the servicing of and commissions provided by corporate accounts."
In this week, students are learning about managing different types of economic costs.
Is there a surplus or deficit and how much? Calculate the government spending multiplier.
Explain the rule that profit-maximizing firms follow when they decide how much capital and labor to hire.