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a) The museums operated by the US Art Services department have suffered from substantial losses for past years. The price elasticity of demand for the museums is estimated to be 0.6. If the US Art Services department would like to increase its total revenue, should it charge the users higher or lower prices? Explain?
b) John bus a T-shirt for $100 and the consumer surplus is $60. What is John’s maximum willingness to pay for the T-Shirt? Briefly explain.
Open a pizza restaurant and is considering either selling the bonds and using the 100,000 to start his restaurant or borrowing the 100,000 from a bank which would charge him an annual interest rate of 7 percent.
q.in 1950s mahjong was illegal in taiwan. given the enjoyment of playing such a fun game this is surely inefficient.
Each of the 10 firms in a competitive market has a cost function of c=25+q^2. The market demand function is q=120-p. Determine the equilibrium price, quantity per firm and market quantity.
Which of the following equals the market value of all final goods and services produced in an economy, stated in the prices of a specific base year?
The government proposes cutting taxes on investment by implementing a credit for investment in information technology equipment. The proposal would reduce government tax revenues. Describe the likely impact on the bond market .
A developer has recently offered US Airways 2.5 million for the land. Should US Airways gives training facility at this locations.
You expect your cost for steel to increase 3% next year, then 5% the year after that, and finally 6% three years out. Compute the average inflation rate for your steel purchases over the next 3 years. You plan to live in your house for 20 years, and ..
Assuming that land and labour are complements in a farming production function, what would happen to the wages earned by workers and the rents earned by landowners in Texas.
how would two of the rbas policy objectives are conflicting? please give an example. which of the goals would the rba
Illustrate what is the size of the labor force. Illustrate what is the official unemployment rate.
Is there a surplus or deficit in the government budget at the equilibrium level of income.
The economic analysis of legal concepts, such as property law, contracts, torts, the legal process, crime, and punishment. The focus of much of the material is using the scientific theory of economics to predict the effect of various policies on ..
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