If the price of pizza is $10, quantity demanded is 3000. If the price increases to $15,
quantity demanded is 1500. Calculate the elasticity of demand. (You may have to
round your answer and pick the multiple choice answer which is closest to yo
Economic Order Quantity Homework
Buckshot Electronics is a chain of electronics superstores that is located throughout
California. They have 22 locations concentrated primarily in heavily populated areas. They
sell thousands of products made by hundreds o
Stock Market Information
The Wall Street Journal, The New York Times, and other major newspapers provide
stock listings for the NYSE, NASDAQ, and relevant regional exchanges
The NYSE is the best-known auction market.
The NYSE is the most efficient equity
One-Period Model for Market Value
The market value of a share of stock today equals the combined present value of two
future cash inflows the expected end-of-period dividend and the expected end-ofperiod stock price
Two-Period Model for Market Value
Secondary Markets and Efficiency
Secondary markets bring us closer to the ideal of a perfectly efficient market
provide information about security pricing
give buyers and sellers access to each other
make it easier to complete transactions
Discuss the characteristics of stock
Represent ownership interest in a corporation
Have limited liability so claims made against the corporation cannot include a
stockholders personal assets
STUDY GUIDE FOR FINAL
Scarcity, ceteris paribus, circular flow model, microeconomics vs. macroeconomics, positive vs.
Factors of production, opportunity cost, production possibilities frontier (PPF), law of incre
1. Construction contracts are in nearly all cases considered to be contracts for the
All of the above
2. Under the UCC, merchants must meet one of three criteria (or descriptors).
A party who de
If the market price of an orange is $1.20, consumer surplus amounts to
When the price is P1, consumer surplus is
A + B.
A + B + C.
A + B + D.
The following table represents the costs of five possible sellers
The elasticity of demand for baseballs is 0.74 and the elasticity of demand for
footballs is 0.82. if there is a 10 percent change for both goods, for which product
will the percentage change in quantity demanded be greater?
In the short run the market price equals $10. A firm in a perfectly competitive industry
would choose to produce an output of _ to maximize profit.
When marginal product begins to decrease due to the law of diminishing returns,
what effect wil
1. The two sections of the UCC that deal with sales and leases are:
a. 1 and 1A
b. 1 and 2
c. 2 and 3
d. 2 and 2A
2. The UCC governs contracts involving sales of goods, real estate and services.
The UCC does not touch on real estate or services. Those
1. Government purchases are part of and include .
a. national income; federal and state government purchases
b. GDP; federal, state, and local government purchases
c. GDP; federal government purchases only
d. national income; federal government purchases