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What dose the supply and demand for human kidneys looks like? If a market in kidneys were legal, who would get them? How does a law prohibiting kidney sale affect the quantity of kidney transplants or their distribution?
Annual demand for rock climbing shoes is Qd = 50,000,000 P-2 a. (1) Prove that the formula above implies a constant elasticity of demand of εp = -2. b. (5) Suppose the industry is competitive, and each firm's total cost of production is TCi = 100 qi...
Why would your company have bid with a zero mark-up on some past tenders? Why didn't it win all of those contracts? What is the bid price that maximizes the expected contribution of the contract?
Assume you are an instructor of a college macroeconomics course. Using the Mitra Kalita (2011) article as a basis, compare and contrast the concepts of consumption, investment, and net exports in a PowerPoint presentation for your students. What impa..
Can the practice of price discrimination be considered universally fair or universally unfair? Use the provided literature and video materials (or other resources) to defend your position. Explain how you define “fairness” in the context the interact..
Assume that Densa Inc. falls 10 percent short of producing the profit maximizing output. Would a higher product price lead to greater output
Phil the Pharmacist currently is working for the Gregory Pharmacy Company earning $40,000 in salary per year. He works 6 days per week and travels one hour in each direction to and from work each day. Phil values his own time at $9.00 per hour. For t..
State whether the following decision is a short-run or long-run decision:
Davy Metal Company produces brass fittings. Davy's engineers estimate the production function represented below as relevant for their long-run capital-labor decisions. Davy's employees are relatively highly skilled and earn $15 per hour. The firm est..
Assume the longer the search goes, the lower price the consumer would pay for the good. Furthermore, assume there are diminishing returns to the search since it is harder to find even lower prices as the search continues; that is: p?(t) > 0. Without ..
Why does the government grant patents to investors? Why does the government give monopoly power to utility companies?
Banks can create money through lending from excess reserves. The National Bank of the Undemocratic Republic of Swagnervania receives $1.5 million. The Federal Reserve of the Undemocratic Republic of Swagnervania stipulates all commercial banks use a ..
For a budget spent entirely on two goods, an increase in the price of one will necessarily decrease the consumption of both if both goods are normal.
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