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Individuals A and B are the only consumers of good X. Individual A demand for good X is given by: Q = 4 – P and individual B demand for good X is given by: Q = 8 – 2P. The supply for good X is given by MC = 3. Assume good X is a (pure) private good. Good X equilibrium quantity is _______. (NOTE: Write your answer in number format, with 2 decimal places of precision level; do not write your answer as a fraction. Add a leading zero and trailing zeros when needed. Use a period for the decimal separator and a comma to separate groups of thousands. HINT: Sketch the Marshallian “cross” diagram of supply and demand to help you answer this question.) Show all steps.
The nation of Wrexington utilizes the same method to Compute the unemployment rate as the U.S. Bureau of Labor Statistics utilizes. From the data below, Compute Wrexington's unemployment rate.
What is the highest cost of migration that a worker is willing to incur and still make the move
The cost of fuel for a smelting operation are expected to be $50000 in year three,$52500 in year four and amounts decreasing by 5% per year after through year ten. at interest rate of 8% per year, calculate the present worth of the fuel cost.
Assume increase in government spending. Would the effect on AD be larger if the Fed held MS constant in response or if the Fed were committed to maintaining a fixed interest rate?
Explain what determines the level of income, employment, output and prices in our economy. Do you think current monetary and fiscal policy is working to help the U.S. economy achieve the three economic goals of full employment, economic growth, and s..
A large corporation, where you own a number of shares, recorded extraordinary profits in the last quarter. You expect to receive large dividend payments but do not receive anything. Why?
How might your elasticity of demand for copying and binding services vary if your work presentation is next week versus in two hours?
Mary is a lawyer in Claremore that obtained her degree as a lawyer at the top of her class at the University of Tulsa. She worked as an administrative assistant at a law firm in Tulsa to finance her law degree. Now she is the best lawyer and best adm..
Present a thorough analysis of fiscal policy. Detail the effects of discretionary fiscal policies, the various policy levers, the impact of crowding out, time lags, and automatic stabilizer
Compare the efficiency of the following two methods of amending the just-compensation constraint: Define just compensation to be fair market value (including relocation costs) plus, say, 20 percent. b. Allow private property owners to make their own ..
Why is technology such an important part of the labor market? Do you think technology makes workers more or less productive and how does it relate to their wages?
How much the person should must get? And is it taken from any person who works in US? My country is paralyzed to impose this tax due to oligarchs heavy influence. I just wanted to gain some knowledge.
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