Business, 23.01.2020 20:31 kelseychristian24
One way to promote a new business is to offer free items. if jayleen were to open a restaurant and offer free food, she likely would have a line out the door. how would an economist understand the behavior of those standing in line?
a. those waiting in line place a high value on the use of their time.
b. those waiting in line believe that the marginal cost of waiting in line exceeds the marginal benefit of waiting in line.
c. those waiting in line place a low value on the use of their time.
d. those waiting in line believe that the marginal cost of waiting in line is zero.
e. those waiting in line believe that the marginal benefit of waiting in line is zero.
Answers: 1
Business, 21.06.2019 19:20
In 2007, americans smoked 19.2 billion packs of cigarettes. they paid an average retail price of $4.50 per pack. a. given that the elasticity of supply is 0.50.5 and the elasticity of demand is negative 0.4−0.4, derive linear demand and supply curves for cigarettes. the demand equation is qdequals=nothingplus+nothing times ×p and the supply equation is qsequals=nothingplus+nothing times ×p.
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Business, 22.06.2019 14:40
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One way to promote a new business is to offer free items. if jayleen were to open a restaurant and o...
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