1- the acme paper company lower its price of envelopes
Question and Solution
1- the acme paper company lower its price of envelopes ( count ) from 6$ to 5.40$ if its sales increase by 20 % follo
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1- the acme paper company lower its price of envelopes ( count ) from 6$ to 5.40$ if its sales increase by 20 % following the price decrease , what is the elasticity coefficient ? 2- if the sales of your company have grown from 500 000$ five years ago to 1050150 $ this year , what is the compound growth rate ? if you expect your sales to grow at rate of 10 % for the next five years , what should they be five years from now ? 3- explain the relationship between a firms short run production function and its short run cost function ? 4- < if it were not for the law of diminishing returns , a firm`s average cost and average variable cost would not increase in the short run > do you agree with this statement?, explain ?
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