Practice_Midterm_1

Whatisthenewequilibriumpriceand

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Unformatted text preview: 
gives
the
following
results
(drawn
from
the
report)

 [5
points]
1d.
If
we
believe
the
results
in
this
rival
report,
what
is
the
demand
elasticity
 when
quantity
is
equal
to
30?

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Midterm
 
 Page
4
 
 
 [3
points]
1e.
If
we
believe
the
results
in
this
rival
report,
what
is
the
demand
elasticity
 when
quantity
is
equal
to
60?

 
 
 
 
 
 
 
 
 
 
 
 [3
points]
1f.
Do
these
results
from
the
rival
report
make
sense?
Justify
your
answer.

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
[4
points]
1g.
Identify
the
source
of
error
in
the
analysis
of
the
rival
team.

 
 Midterm
 
 Page
5
 
 QUESTION
2:
Price
Controls
in
Quinoa
Market


[30
points]
–
YOU
MUST
ANSWER
THIS
 QUESTION
 ...
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This document was uploaded on 03/09/2014 for the course BUS 01 at NYU.

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