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In his will, a man wishes to establish a perpetual trust to provide for the maintenance of a small local park. If the annual maintenance is dollar 7500 per year and the trust account can earn 5% interest, how much money must be set aside in the trust?
When the demand for a good is price-elastic at a given output level: (a) total revenue is negative, (b) total revenue for the good will increase if its price decreases. (b) an
Kalia is currently spending all of her weekly income purchasing the two goods that she likes hamburgers and fries. She is currently purchasing 10 hamburgers and 5 large fries.
How do externalities positive or negative play a role regarding the demand and supply of a good or a service and what can government do to promote greater social welfare and
Suppose the own price elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 2, and the cross-price elasticity of demand between it a
Calculate various measures of productivity and explain they mean. Explain in words what the marginal productivity of labor and average productivity of labor measures and why t
Discuss which economic relationships you have studied up until now (not just in this class, but in all your economics classes) could be estimated using the simple linear regre
If Supply and Demand have the normal shapes (not perfectly elastic or inelastic), a "tax on sellers" will shift demand upward by the amount of the tax, and equilibrium posted
The charter boat fishing industry has a marginal benefit (demand) for fishing trips out of Irondequoit Bay which can be expressed as a linear function of the price of the trip
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