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Provide an example of a product or service in which you would pay above the market price. Discuss how it relates to consumer surplus.
Discuss some clues that a consumer could identify to know whether a producer has a surplus.Examine the first theorem of welfare economics and its importance. If this theorem did not hold true, how would this impact the study of economics?
Analyze how taxes can make markets fail to achieve economic efficiency and illustrate with your own examples. Discuss why the government must force market equilibrium
What would the number of paying patients and federally funded seniors be if the federal funding agency raised its rate to $120 per treatment?
Delivery and insurance charges were $40,000, and installation of the cells cost another $50,000. (Hint: Parts (a) assume the Adjust Cost Basis is the total cost. Part (b) please refer to Table 7.2 MACRS Class Lives and Recovery Periods. Part (c) use ..
suppose there are nine sellers and nine buyers each willing to buy or sell one unit of a good with values 10 9 8 7 6 5
Presume you buy a share of stock for $20 and sell it for 40. Then your profit is $20. If that happens within a year, your rate of return is an impressive 100%. If it takes 6 years, what would be the average annual rate of return on your investment?
a best-selling author decides to cash in on her latest novel by selling the rights to the books royalties for the next
1. data for the market for graham crackers is shown below. calculate the elasticity of demand between the following
1. Has war always been a propulsive force for economies? How about World War I? How about winners versus losers? How about England, which was on the winning side in World War II? 2. if postwar demand was so important in getting the boom going,..
Suppose 2 firms are found on the real line [0,1]. Firm 1 is located at a=.15, and Firm 2 is located at 1-b, where b=.15. Assume P1=P2=$10. Consumers face a distance cost of $2 per square unit of distance. What can you infer about the market share of ..
1.outline a plan that will assess the effectiveness of the market structure for the companys operations.2.suppose the
What are the strengths of the CPI? What are the characteristics of these strengths? Same for weaknesses?
Do you think the overall level of R&D would increase or reduce over the next 20 to 30 years if lengths of new patents were extended from 20 years to, say "forever"?
Two firm case and multi firm case.
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