Homework 4 Master 1. College logo t-shirts priced at $15 sell at a rate of 25 per week‚ but when the bookstore marks them down to $10 it finds that it can sell 50 t-shirts per week. What is the price elasticity of demand for the logo t-shirts? Is the demand elastic or inelastic? Answer Ed = -1.675 (elastic) 2. Check out the following video (http://www.youtube.com/watch?v=ncZkrO06le8). Do the early shoppers appear to have elastic or inelastic demand on Black Friday? Answer
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Title: Estimation of Ascorbic acid Aim: To determine the ascorbic acid content of canned apple and orange juice To determine the volume of canned juice necessary to provide 75mg of Vitamin C Introduction: For the estimation of ascorbic acid‚ the method used involved the titration of the ascorbic acid‚ in the presence of a redox indicator 2‚6-dichlorophenol-indophenol (DCPIP) which acts as both an oxidant so as to oxidise the ascorbic acid to dehydroascorbic acid‚ and it acts as an indicator
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1a) Price elasticity of demand (PED) measures the degree of responsiveness of the quantity demanded of a good to a given change in price of the good itself‚ ceteris paribus. It is found by taking the percentage change in quantity demanded of good X divided by the percentage change in the price of good X. The numerical value of the price elasticity of demand is always negative due to the inverse relationship between quantity demanded and price as stated in the law of demand. When we interpret
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10 Soft Systems and Hard Contradictions* Lars Mathiassen Peter A. Nielsen Abstract. Checkland ’s Soft Systems Methodology for defining and solving problems in organizations is presented on the basis of an application of the methodology. In many ways this approach represents an improvement in relation to more traditional approaches to computer-based information systems. Based on an experiment we explore the possibilities of combining the practical usefulness of soft systems thinking with the
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were first engaged to provide support for Agile Development‚ the area of concern for management and product owners was the realm of estimations. As such‚ the area that our consulting team placed focus on was during the Backlog Grooming and Estimation sessions. Our goal was to understand why for the past 6 months development teams have provided inconsistent estimations‚ derailing project timelines and costing Company X almost 175% of their predicted development costs for the quarter. It is understood
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CHAPTER 2A DEMAND ANALYSIS 1. Introduction: • Demand for goods and services constitutes one side of the product market ; supply of goods and services forms the other. • If there is no demand for a good‚ there is no need to produce that good. • If the demand for a good exceeds its supply‚ there may be need to expand production. • Production generally takes time and so one has to know the likely demand for a relevant product at a future data to
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SOFT COMPUTING social sciences behavioral sciences the humanities economics law medicine include quantitative Human sciences methods are methods are often used separately qualitative that means numerical data precise objects conventional logic complicated mathematics computer models that means non-numerical data imprecise objects approximate reasoning interpretation manual work 2 Traditional Approaches to Computerized Modeling • Mathematical
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Price Elasticity of Supply * Price Elasticity of Supply: * The degree of price elasticity of supply depends on how easily - and therefore quickly - producers can shift resources between alternative uses. Unlike PED‚ there is no Total Revenue Test for Price Elasticity of Supply. * Because there is a direct relationship between Price & Total revenue‚ they always move together. DETERMINANT OF PRICE ELASTICITY OF SUPPLY: TIME! THREE PERIODS: Market period--> short run --> long
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BEA111 Online Quizzes 1-6 Quiz 1 1. Economics is best defined as the study of how A. prices and quantities of goods and services are determined in markets B. private firms and households respond to taxes and subsidies C. people make choices in the presence of scarcity and the results of those choices. D. interest rates and exchange rates are determined 2. The scarcity principle implies that A. people will never be satisfied with what they have B. as wealth increases
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liked the most so he just presented them all. This makes reading his ideas difficult because you cannot tell what his main goal was when writing it. The U.N.’s Universal Declaration of Human Rights is expertly written to prevent exclusion of any group. The human rights presented are very basic but seem to have more focus that John Rawl’s. The U.N.’s Human Right’s specifically addresses that rights are not determined by “race‚ color‚ sex‚ language‚ religion‚ political‚ or other opinion‚ national
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