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Tom consumes positive quantities of both jam and juice. the price of jam is 5 cents per unit and the price of juice is 10 cents per unit. Her marginal utility of jam is 10 and her marginal utility of juice is 55. Without changing her total expenditure, how should she adjust her consumption in order to increase her total utility?
the total quantity of monthly account across all internet providers increases from 90,000 to 190,000. What is the value price elasticity of demand? Is the demand elastic or inelastic?
Should GDP take into account environmental issues, distributional issues also health also welfare issues.
Suppose the demand for honey is given by Q=500-4p. Also, suppose there are 80 honey producers in the market. What is the equilibrium price of honey?
Describe the process in the money market (demand and supply of/for money) by which the interest rate reaches its equilibrium value if it starts above equilibrium. (Principles of Macroeconomics)
The demand and supply equations for donuts are: Q = 160 – 4P and Q = -20 + 2P. Find the deadweight loss that would occur if a price ceiling of 22 were introduced. If scarcity was to disappear and donuts were free, how many donuts would people want?
What is the deadweight loss if buyers, instead of vendors, are required to pay the tax of $4 for each unit of the good sold.
An electric utility is considering upgrading its facilities to cut consumer costs. Currently these consumer costs total $350,000 per year. Transformer upgrade Y would have an initial cost of $750,000, would last for 20 years with no salvage value, wo..
Predatory pricing is easy to prove in a court of law. An incumbent firm may experience a learning curve that allows it to produce at a lower cost than a potential entrant. A firm receives no individual benefit from strategies that raise the marginal ..
q1. unique creations hold a monopoly position in the production as well as sales of magno-meters. cost function facing
Evaluate each of these three options in the context of the economic concepts and business strategies we have learned in the course and explain how you would deal with this situation - Is this consistent with profit-maximization? Given the current h..
Explain why some countries use country export restrains (VER) instead of imports quota? List and explain at least there reason as to why countries decide to form regional trade agreements. Why we need to make distinction between large and small count..
question 1 the economic surplus of a particular action is answer the value of the action the cost of the action
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