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Public health information can be broadcast at a cost of $100. Public health information is a pure public good, in that many people can use the information simultaneously and preventing people from using the information is very difficult. One group of residents has a demand curves for public health information of the form Q = 50 - P. Here Q is the number of public health broadcasts per month and P is the price per broadcast. Another group has a demand curve of Q = 140 - P.
At a price of $100 per broadcast, how many broadcasts per month will be demanded (Add the quantities demanded by each group.)
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If output prices rise without the nominal wage rising, then real wages rise and workers are willing to work more. This is one of the main reasons that the short-run aggregate supply curve slopes upward.
q1. pick a society and time in history you would consider that the vast majority were doing very well economically.
What are the advantages and disadvantages of using the Gross Domestic Product (GDP) as a measure of productivity and economic health? Explain your answers
President Bill Clinton assigned his wife to task of developing a national health insurance plan to increase availability of medical care for poor. How would one determine opportunity cost of proposal.
Compute the price elasticity of demand for good X between the two prices on the demand curve. Describe the price elasticity of demand for good X.
Economists sometimes refer to the attempt by countries to fix their exchange rates, control thier money supply, and operate with open capital accounts in their balance of payments (that is , to have no restrictions on capital movements) as the "impos..
In a one shot game, if you advertise and your rival advertise, you can each earn $5 million in profits. If either of you advertises, you rival will make$4 million and you will make $2 million. Identify and dominant strategy your rival has?What is the..
suppose there are two diners. What will they order (at a Nash equilibrium)? b)suppose there are four diners. What will they order (at a Nash equilibrium)?
Which of the following is a list of nonrival private goods only? Economic theory suggests that college graduates receive higher wages than those with only a high school education because:
Export Development Canada (EDC) provides insurance to Canadian exporters for their accounts receivable from foreign buyers. If EDC charges an insurance premium that reflects the average level of risk of the exporting firms, it is only the most risky ..
Participate in a discussion with your classmates regarding the trade off between inflation and unemployment. Now that we have learned that the Short-Run Phillips Curve (SRPC) shows the trade off between inflation and unemployment at the given natural..
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