mgr econ quiz 7 - St. Charles Hospital, located in an...

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Question 24 3 out of 3 points If a firm successfully adopts a product differentiation strategy, what should happen to the elasticity of demand for its product? Selected Answer: D. It should decrease. Correct Answer: D. It should decrease. Question 25 3 out of 3 points If the current price of a good is $10, market demand is Qd = 400 – 2P, and market supply is Qs = -50 + 10P, then Selected Answer: A. at the current price there is excess demand of 150 units. Correct Answer: A. at the current price there is excess demand of 150 units. Question 26 3 out of 3 points
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Unformatted text preview: St. Charles Hospital, located in an upper-income neighborhood of a large city, recently received a restored mansion as a gift from an appreciative patient. The board of directors decided to remodel the mansion and use it as recuperative quarters from patients willing to pay a premium for luxurious accommodations. The cost to the hospital of using the mansion includes Selected Answer: B. how much the hospital would receive if it rented or sold the mansion. Correct Answer: B. how much the hospital would receive if it rented or sold the mansion....
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This note was uploaded on 04/14/2010 for the course ECONOMICS 2345 taught by Professor Jamison during the Spring '10 term at York University.

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mgr econ quiz 7 - St. Charles Hospital, located in an...

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