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The consumers’ surplus represents the total savings to those who are willing to pay more for a product in a monopoly situation, but are able to buy the product for a cheaper price due to a free-market environment. Find the consumers’ surplus at a quantity of x=240 for the price-demand equation p=20-0.05x.
Explain how labor market equilibrium is affected by the supply also demand of labor.
Japan's rapid growth pushed its real GDP per capita above that of the United States. Growth rates in follower nations such as South Korea and Hong Kong averaged about 10 percent per year.
Country A has 1,500 units of labor and can produce two goods, manufactures and food. A’s producers take 5 units of labor to produce one unit of manufactures and 6 units to produce one unit of food. Country B has 1800 units of labor and takes 3 units ..
Which environmental protection equipment alternative should be selected? The firm MARR is 20% per year. Assume the equipment will be needed indefinitely. Assume the study period is shortened to five years. The market value of alternative B after five..
Fred's Foundry is a price taker in both product and factor markets. The wage of unskilled workers is $10 per hour and skilled workers can be hired for $25 per hour. If Fred is not technically efficient, what changes in the number of skilled and unski..
What could the federal reserve system Fed do in 2000 in order to bring the economy back to full employment ? What did the Fed actually do? explain
Indicate two public policies that would be appropriate for addressing this situation. Explain their impact on your graph.
Which statement about institutionalization in organizations is most accurate? What was found in research on the effectiveness of self-managed teams? Which process is most likely to occur in an after-activity review? Members are most likely to experie..
Smallville is suffering annual losses of taxable properties and property values of 1% each. Even so, Smallville must maintain its tax collections at a constant value of $3.2 million to maintain services. What is the required rate of increase in the t..
The market value of a bond will always approach its par value as its maturity date approaches, provided the bond's required return remains constant.
An increase in the market price of men's haircuts, from $15per haircut to $25 per haircut, initially causes a local barbershop to have its employees work over time to increase the number of daily haircuts provided from 35 to 45. What is the short-run..
Do you agree or disagree with the statement that " A mononpolist always charges the highest possible price"? Explain B.) why can’t an individual firm raise it price by reducing output or lower its price to increase sales volume in a purely competitiv..
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