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How Steep a Supply Curve? Consider two cities, one on a small island, and a second on a large plain.
a. Draw a long-run supply curve for housing for each city, and explain any differences between the two supply curves.
b. If demand for housing increases by the same amount in each city, which city will experience a larger increase in price
A gas utility serves a small town with natural gas. The total cost function for the utility as a function of the amount Q of gas sold is: TC(Q) = 50,000 + 300Q + 0.4Q2 The demand function for the customers is Q = 374 - 0.22P
What happens if you estimate the wage regression similar to (10.12) in a world in which the source of disparity in schooling is differences in discount rates across individuals?
Assume the following data describe the gasoline market: Price per gallon $2.00 2.25 2.50 2.75 3.00 3.25 3.50 Quantity Demanded 32 30 29 28 22 21 20 Quantity Supplied 16 20 24 28 32 36 40 (a) What is the equilibrium price
A researcher wants to compare the average success index for two groups of managers at la large manufacturing plant. Managers in group 1 engage in a high volume of interactions with people outside their work unit, while managers in group 2 rarely i..
Then there exists a unique BGP allocation in which there is only labor-augmenting technological change, the interest rate is constant and consumption and output grow at constant rates.
mac rowe doesnt sweat the petty stuff. in fact he just cannot detect small differences. he consumes two goods x and y.
an economy is faced by the exhaustion of an important natural resource at a time when it is introducing improved technology.using a diagram how these events will affect the economy production possibility curve
Estimate a logit model to predict delinquencies in terms of the other variables in the data set. Enter McFadden's Rsquared in the box below.
Policymakers, however, are worried about how this will influence the yen. Will it increase or decrease the supply/demand for the yen and will the yen appreciate or depreciate?
Suppose a consumer buys 10 units of good X and 20 units of good Y every year. The following table lists the prices of goods X and Y in the years 2005-2007. Assume that these two goods constitute the typical market basket.
suppose two types of consumers exist, a more affluent group (1) with an estimated price elasticity for biscuits of -2 and a less affluent (2) with an estimated price elasticity for biscuits of -2.5. Pillsbury puts a posted price of a particular am..
Draw a graph that shows her change in consumer surplus.
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