Elasticity-total revenue and marginal revenue
Using appropriate diagrams and notations, carefully explain the relationship between elasticity, total revenue and marginal revenue.
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Why is productivity related to the standard of living? In your answer be sure to explain what productivity and standard of living mean. Make a list of things that determine labor productivity
At the high level of activity in November, 7,000 machine hours were run and power costs were $12,000. In April, a month of low activity, 2,000 machine hours were run and power costs amounted to $6,000. Using the high-low method, the estimated fixe
For a firm selling its product in a purely competitive market, the marginal revenue product of labor can be found by:
SBSC has three service departments, computer support, career development, and the library. The dean would like to measure product line profitability and wants to include an allocation of service department costs in the analysis. How would you reco
Graph the demand and supply curves. What is the equilibrium price and quantity in this market? If the actual price in this market were above the equilibrium price, what would drive the market toward the equilibrium?
The common stock of Metal Molds has a negative growth rate of 1.5 percent and a required return of 18 percent. The current stock price is $11.40. What was the amount of the last dividend paid?
Suppose that, during the day, the station owner's demand is given by PD=2.06 - .00025QD. The marginal cost of selling gasoline is $1.31 per gallon. At his current $1.69 price, he sells 1,500 gallons per week. Is this price-output combination optim
Suppose a central bank does not satisfy the Taylor principle. Use a graph to analyze the impact of a supply shock. Does this analysis contradict or reinforce the Taylor principle as a guideline for the design of monetary policy?
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