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The Snow City Ski Resort caters to both out-of-town skiers and local skiers. The demand for ski tickets of out-of-town skiers is given by Qo = 600 - 10 Po, while the demand for ski tickets of local skiers is given by Ql = 600 - 20 Pl . The marginal cost of servicing a skier of either type is $10. If Snow City Ski Resort (third-degree) price discriminates then at the profit maximizing prices, the price elasticity of demand is
Representative consumers have the utility function U(C,Ls) = log(C) + log(1- Ls). Representative consumers have labor endowment of 1. So Ls must be less than 1. Write down the budget constraint of the representative consumer. Write down the maximizat..
The U.S. Bureau of Labor Statistics publishes a variety of unemployment statistics, including the number of individuals who are unemployed and the mean length of weeks that the individuals have been unemployed. Find the confidence intervals of the me..
In 2010 in the country of Arlandia government debt was zero. You know that the government revenue for 2011 was $344, for 2012 was $360, for 2013 was $380. The government outlays for 2011 were $197 and for 2012 were $237. If you know that government d..
Elucidate which following is true in market of a monopoly
Assume you and your roommate have started a bagel deliver service on campus. List out some of your fixed costs and discuss why they are fixed.
Davy Metal Company produces brass fittings. Davy's engineers estimate the production function represented below as relevant for their long-run capital labor decisions.Is this an increasing, decreasing, or constant returns to scale production function..
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
q1. if the aggregate-demand curve is given by the equation p400-2xy and long run aggregate supply100 the long run
In your own words, summarize the article, "Tourism Investment Monitor," by Tourism Research Australia, May 2015. In particular, what are the main messages of the article? Use appropriate diagrams to answer: Do you think increasing investment in Au..
How much income gets you into the top quartile or quintile. Discuss the issues of regressive, proportional, and progressive taxation.
Describe some of the factors needed to reengineer corporate thinking that Southwest Airlines already exhibits. What specific elements of a corporate entrepreneurial strategy are apparent within Southwest Airlines? How was Herb Kelleher instrumental i..
Consider the truthfulness of the following statements. Assume that good x is on the horizontal axis and good y is on the vertical axis, and that preferences are complete, transitive, monotonic and convex. If price elasticity of demand for good x is n..
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