. What is the price elasticity of demand? How is the price elasticity of demand calculated?

2. Why is time such an important determinant in the elasticity of supply? Is time also important in determining price elasticity of demand? Explain.

3. What is marginal utility? Why is the term marginal important in utility analysis?

4. Describe and explain the three principal methods of financing that are used by corporations.

5. What is the random walk theory? Explain.

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