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Find a market price for hydrogen gas and normalize the energy content compared to the current local price of gasoline. Using octane as an approximation for gasoline energy content, compare the cost per kilojoule of energy of hydrogen to gasoline. What cost per gallon of gasoline do you think must be reached before the hydrogen fuel source is economically competitive?
The small town of Middling experiences a sudden doubling of the birth rate. After three years, the birth rate returns to normal.
Explain why government regulation is or is not needed, citing the major reasons for government involvement in a market economy. Provide support for your explanation.
The demand curve for the product X is given by Qdx = 460 - 4Px. How much consumer surplus do consumers receive when Px = $35?
What are the advantages and disadvantages of the oligopolistic structure? How would an increase in a monopolist's fixed costs affect its profit-maximizing choice of price and quantity?
Which price constitutes firm 2's optimal commitment strategy? Justify your answer and explain why it makes sense.
Determie what geopolitical events helped shape John Maynard Keynes theories and how did they shape the future of economic policy in the United States and other Western nations?
Consider an economy that abides by the classical mode. The production function is unspecified, but we know that the Theory of Distribution (ToD)[W/P=MPN] holds. Suppose there is adrop in the level of capital.
You will be drafting a power of attorney giving this person the right to act as your "agent" on your behalf for all matters involving the listing, sale and closing of your house. Make a list of the provisions and considerations you want to be cert..
One of the functions of price is to ration resources and goods and services. What do we mean when we say price serves as a rationing device Elaborate your response in relation to scarcity and in terms of the demand and supply model
Increasing jet fuel values recently led most major United States airlines to raise fares by approximately 15%. Describe how this substantial increase in airfares would affect the following;
Determine whether a permanent increase in the size of the labor force and an improvement in technology, other things held constant, would lead to an increase, a decrease, or no change in long-run aggregate supply
Price elasticity of demand, Income elasticity of demand and Cross elasticity of demand of toyota corolla car.
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