The schedule below shows the number of packs of bagels bought in Davis, California, each day at a variety of prices. Price of Bagels ($/pack) Number of packs purchased per day
$6 0
$5 3,000
$4 6,000
$3 9,000
$2 12,000
$1 15,000
$0 18,000
a. Graph the daily demand curve for packs of bagels in Davis.
b. Calculate the price elasticity of demand at the point on the demand curve at which the price of bagels is $3 per pack.
c. If all bagel shops increased the price of bagels from $3 per pack to $4 per pack, what would happen to total revenues?
d. Calculate the price elasticity of demand at a point on the demand curve where the price of bagels is $2 per pack.
e. If bagel shops increased the price of bagels from $2 per pack to $3 per pack, what would happen to total revenues?

Which of the following best describes vertical integration? a. produce goods or services previously purchasedb. develop the ability to produce products that complement the original productc. develop the ability to produce the specified good more efficiently than befored. build long term partnerships with a few supplierse. sell products to a supplier or a distributor

Why is the cournot equilibrium an​ equilibrium? a. there are​ short-run barriers to exit in a cournot​ duopoly, so both firms cannot alter their output levels. b. given the other​ firm's level of​ production, both firms are maximizing profits and cannot improve their situation by unilaterally altering their level of output. c. both firms operate at zero profit under a cournot​ equilibrium, so they would face negative profits if they change output. d. both firms operate at minimum​ long-run average cost under a cournot​ equilibrium, so changes to output would reduce​ long-run profits. even if they​ can't collude, why​ don't firms set their outputs at the joint​ profit-maximizing levels​ (i.e., the levels they would have chosen had they​ colluded)? a. given that other firm produces at the collusive​ level, a firm could increase their own profits by increasing output above the collusive level. b. the midpoint of the collusion curve​ (i.e., the collusive​ outcome) lies below the reaction​ curves, so both firms have an incentive to increase output under the cournot duopoly. c. both a and b are correct d. both a and b are incorrect

Which one of the following best describes pro forma financial statements? select one: a. financial statements expressed in a foreign currency b. financial statements where the assets are expressed as a percentage of total assets and costs are expressed as a percentage of sales c. financial statements showing projected values for future time periods d. financial statements expressed in real dollars, given a stated base year e. financial statements where all accounts are expressed as a percentage of last year's values