Magnusfl

we hired a contractor who asked for 6100 up front to buy materials and after that we hardly seem him and he never did more then 5-6 hours a day and now the job is about 30% done and still on the first stage of permit but claims he 98% done and wanted another 2700 dollars leaving a 600 dollar balance which we refused as we never agreed to pay him the balance till the job was done now he Abandoned the job and has never delivered the widows and door he was to have payed for with the 6100 but in his last letter he demanded the 2700 or he return the windows and also told us he was not going to do the electric which was in the contract which he also refused to give us a copy of even thought we asked over and over and he kept telling us ah next time which never happened

. You are the manager of a supermarket, and know that the income elasticity of peanut butter is exactly -0.7. Due to the recession, you expect incomes to drop by 15% next year. How should you adjust your purchase of peanut butter?

a) buy 10.5% more peanut butter.

b) buy 2.14% more peanut butter.

c) buy 6.2% less peanut butter.

d) buy 9.8% less peanut butter.

Suppose demand is given by

Q xd = 50 - 4Px + 6Py + Ax ,

where Px = $4,

Py = $2, and

Ax = $50.

What is the advertising elasticity of demand for good x?

a) 1.12.

b) 0.38.

c) 1.92.

d) 0.52.

In a competitive market, the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. The full economic price under a price ceiling of $3 is

a) 6.

b) 7.

c) 8.

d) 9.