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Suppose you are trying to choose between 2 plans for your long distance telephone service. If you choose plan 1, your monthly bill will be computed according the equation:
Plan 1 B=$30+.20T
B is your monthly billing fee in dollars and Tis your monthly volume of long distance calls in minutes. If you choose plan 2, your monthly bill will be computed according to the equation B=$80+.30T
Please use the algebraic approach to find the breakeven level of monthly call volume for these plans. (Solve equations simultaneously) B. Please graph your points
In 2005, conditions in Iraq led to a sharp drop in consumer confidence and a drop in consumption. Assume that the Fed holds the money supply constant, tell a story and predict the effects on the equilibrium levels of aggregate output (Y) and the inte..
Output Variable Cost 0 $ 0 1 $ 5 2 $ 9 3 $12 4 $16 5 $22 6 $30 7 $40 8 $52 9 $67 10 $90 Given the above variable cost data and assuming fixed costs equal the value of the last two digits of your MDC student ID, create a file using Excel that lists Ou..
What is autonomous consumption? Can you explain what autonomous consumption means and use it in an example?
Suppose that computers use two units of capital for each worker, so that KC = 2LC, while shoes use 0.5 units of capital for each worker, so that KS = 0.5LS. There are 100 workers and 100 units of capital in the economy. Solve for the amount of labour..
One common criticism in the optimal taxation literature is the specification of the social welfare function. The optimal taxation literature (I have the Mirrlees framework in mind) relies on first specifying a social welfare function. what kind of po..
Discuss the elements the led to the successful northern commercialization of agriculture and the differences between the northern commercialization and southern commercialization of agriculture.
The Newspaper reported that insurgents in Saudi Arabia had taken over a major oil refinery. What would you predict would happen to the average price and quantity exchanged in the market for gasoline in Saudi Arabia?
Elucidate the concept of the opportunity cost. your answer could consider opportunity cost in the context of the production possiblity curve.
In order to engage in price discrimination, a monopolist has to be able to determine that there are different groups of consumers that have different ________ for the product.
They found that getting larger was painful it involved a lot of new administrative infrastructure to get everything organized
Elucidate how scarcity of resources influences this market and describe the choices stakeholders are forced to make.
problem-solving questionuse the following data for a firms output at various levels of employment l to calculatea its
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