sjqhwdj
1. What does the price elasticity of demand measure?
e. | a consumer’s sensitivity to a price change REF: Determinants of the Price Elasticity of Demand |
2. From the accompanying table, we would expect that, for recreational skaters, the price elasticity of demand for ice skates between $10 and $20 to be ________ than that of hockey players because ________.
Price of Ice Skates | Quantity Demanded (hockey players) | Quantity Demanded (recreational skaters) |
$10 | 95 | 70 |
$20 | 85 | 50 |
$40 | 75 | 35 |
$50 | 65 | 45 |
$ |
Percentages & Ratios Cheat Sheet
A ratio says how much of one thing there is compared to another thing.
There are 3 blue squares to 1 yellow square
Ratios can be shown in different ways:
| Use the “:” to separate the values: | 3 : 1 | |
| Or we can use the word “to”: | 3 to 1 | |
| Or write it like a fraction: | 31 |
A ratio can be scaled up:
Here the ratio is also 3 blue squares to 1 yellow square,
even though there are more squares.
Using Ratios
The trick with ratios is to always multiply or divide the numbers by the same value.
Example:
4 |
henzel
Shareholder Wealth Maximization: the primary financial goal for managers of publicly owned companies implies that decisions should be made to maximize the long-run value of the firm’s common stock. Intrinsic Value: an estimate of stock’s “true” value based on accurate risk and return data. Market Price: the stock value based on perceived but possibly incorrect information as seen by the marginal investor.Primary markets: markets in which corporations raise capital by issuing new securities.
Read MoreUntitled 1
, -35plank,-17 weak force 21 milk way
Aristotle: understanding motion is the same as understanding nature itself (Keen observations and metaphysics)
Galileo: father of modern science. Treat nature as things that can be studied and measured; experiments (inclined plane experiment: the first mathematical law of nature)
Newton: Mechanical view of the universe
Sun and Planet gear changes linear motion to a circular one
Joules performed an experiment, showing heat is a form of energy 
Heat is the random
Read MorePublic Policy
1. What is a deadweight Loss?
Deadweight loss occurs when supply and demand are not in equilibrium. When consumers do not feel the price of a good or service is justified when compared to the perceived utility, they are less likely to purchase the item. With the reduced level of trade, the allocation of resources may become inefficient, which can lead to a reduction in overall welfare within a society. Examples: Minimum wage and living wage laws can create a deadweight loss by causing employers to
Read MoreUntitled 1
assignment a
1. an electrical unit consists of four components each of which is subject to failure. suppose that, at a specified time, we observe this unit to determine which components are working and which have failed. write the sample space associated with this random experiment.
let w denote working and f denote failed. the sample space would be
2. suppose the sample space is 
. let 
, 
, and 
. determine the sets 
here 
thus,
so,
3. let 
, 
the set of natural numbers divisible by 3,