Suppose that the U.S. Open ticket costs $100 and the British Open ticket costs £50 and the exchange rate is $1.43. How much does the British Open ticket cost for an American attending the British Open?
What will be an ideal response?
$1.43 ? 50 = $71.50
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Johnny's Shop-and-Pay is a regional grocery chain, and their marketing manager is trying to determine the profit-maximizing coupon program for the store's laundry detergent brand
Coupon users at the store have an elasticity of demand for this product that equals -3, and the elasticity of demand for non-users of the coupon for the store brand equals -1.5. If the full retail (undiscounted) price of the detergent is $10 per box, what is the optimal discount to provide for coupon users? A) 25% off B) 50% off C) 75% off D) The optimal strategy is to charge the same price to both groups
Why does increasing employment not necessarily increase living standards?
a. Productivity always increases as employment increases. b. Living standards and employment are always positively related. c. Increasing employment may not be accompanied by higher real wages d. There is no upper limit to labor force participation. e. Real wages are not adjusted for inflation.
(Consider This) The average life expectancy of a U.S. business is approximately:
A. 2 years. B. 5.5 years. C. 10.2 years. D. 22 years.
In long-run equilibrium, a perfectly competitive firm's short-run marginal cost curve crosses the long-run average cost curve at the lowest point on the long-run average cost curve
a. True b. False Indicate whether the statement is true or false