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Kidney's [transplant] are not allocated by markets. Discuss the pros and cons of switching to a market for kidneys [Note: Currently, people can volunteer to donate one of their two kidneys, and getting a kidney is dependent upon your requirements and prognosis [and sometimes having a relative who is a "match" donate theirs.]
Assume there're three firms with the same individual demand function. This function is Q=1,000-40P. Assume each firm had the diffeerent cost function these functions are: Firm 1: 4,000+ 5Q
Compare the consumer surplus, producer surplus, and total surplus in this condition to those same measures in a perfectly competitive market.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
What is significant about the connection between the demand for goods and market failures? What happens to the demand for goods when a market fails
Discuss how Internet security measures can actually create opportunities for criminals to steal, rather than prevent them.
Perform a White test for heteroskedasticity using auxiliary regression
The marketing team for a restaurant wants to estimate the price elasticity of demand coefficient for its steak dinner. It priced its dinner at different price points in local restaurants to see how many would be sold at different prices.
Using the given table, find out the quantity where MC = ATC. Find out the quantity where ATC is at its minimum. Find out the quantity that is the most efficient operating point for the firm.
Derive the profit maximizing price and the profits at this price. What is the demand elasticity at this price? What is the total demand when the monopolist charges a price P?
Compute Calvin's profit-maximizing output level. Compute the Calvin's economic profits at this activity level. Is this activity level sustainable in long run?
Evaulate the price elasticity of demand for subway rides. The subway fare in your town has just been increased from the current level of 50 cents to $1.00 per ride.
In the absence of a quota, what is the equation for the total supply of wine? Show your work - what are the equilibrium price and quantity of wine? Show your work.
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