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Consider a monopoly that has a demand curve that is a straight line that intersects the vertical axis at a price of $12 and has a slope of -2. The marginal revenue curve for this firm will have a slope of:
When a country, say Greece, adopted the Euro as its currency, what happened to the debt that was based on the Drachma? Was it converted into Euros?
According to microeconomics, individuals tend to act in their own self interest. However, Mankiw offers no recommendations in the opening chapters of his text for how humans can re-sculpt their brains so that their expression of self interest is more..
Economies of scale throughout the range of market demand give natural monopolies
PPOs and HMOs reduce the overconsumption of health care by A. charging on a fee-for-service basis and reducing administrative costs. B. reducing administrative costs and denying expensive services. C. reducing administrative costs and providing preve..
In January 2014 the price of a 2014 Buick was $20,000 and 50,000 units were sold. At October 2014, the price of a 2014 Buick dropped to $18,000 and 60,000 units were sold. Identify what has happened in the market for Buicks in the context of demand.
A former Federal Reserve official argued that at the Fed "the objectives of price stability and low long-term interest rates are essentially the same objective"
Draw the demand and supply graph for each of the following situations: 1) Sellers drop out of the wedding photography business 2) Gas prices decrease 3) Fans become more supportive of pro soccer 4) Hockey fans experience a decline in income 5) A book..
A price searcher maximizes his revenue (from a given output) by selling identical units of output at the same price to all customers, for if she sold identical units at different prices to different customers, it would be possible to increase the rev..
The total plant cost for manufacturing CO2 warning devices that have a compact gas detector and a signaling unit is $1,154,400. If the overall cost factor for the plant was 2.61, the delivered equipment cost was closest to:
Why might leasing a new Porsche be good investment for an aspiring Hollywood film producer, even though, he can't easily afford the monthly payments.
Assume the U.S. currently grows 2.5 million tons of fresh winter fruit and that the resources absorbed in the production of this fruit could have produced 300,000 laptop computers. Therefore, the opportunity cost of producing 1 million ton of fresh w..
The price of x1 is 3$ and the price of x2 is $1 and Jack has an income of $90. A) How much of each goods will he demand? A 1$ quantity tax (t) is placed on x1 so that now x1 costs $4 to Jack while his income and the price of x2 stay the same. How muc..
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