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Suppose a demand curve has a vertical intercept of (0,100). Suppose a supply curve has a vertical intercept of (0,0). The equilibrium price is $50 and the equilibrium quantity is 60. What is the total surplus in dollars?
Prevailing market cost is $15. Illustrate what will happen to number of industries in industry and to industry's output in long run.
The supply of Beetles is elastic. Based on this information, are the following statements true or false? Explain your reasoning. A 10% increase in the price of a Beetle will reduce the quantity demanded by 20%. An increase in consumer income will inc..
Market that gives auctions, request for quote postings, and other features to firms that want to operate their own marketplace.
q1. suppose a health expenditure function is specified in the following manner e 500 0.2y where e represents annual
These forecasts for the Internet creating “perfectly competitive” markets were based on the competitive model we have presented in this chapter. Do you think the Internet has helped create more competitive markets or less? Why?
If the firms form a cartel to maximize industry profit, what is the industry marginal revenue at the profit-maximizing level of output?
Suppose that re are 10 million workers in Canada and that each of these workers can produce either 2 cars or 30 bushels of wheat in a year. What is opportunity cost of producing a car in Canada.
The price of wine is $10 per bottle, and the price of cheese is $4 per pound. The last bottle of wine added 50 units to Bridget's utility, while the last pound of cheese added 40 units. Is Bridget making the utility-maximizing choice.
Compute the price elasticity also advertising elasticity. Interpret each one. Illustrate what is the predicted range of Demand for Sun workstations with 95 percent (%) confidence level.
They use the Internet to pay babysitters. With no cash, does the nature of money change? Should the Federal Reserve change the definition of M1?
If the incremental federal income tax rate is 34% and the incremental state income tax rate is 6%, what is the effective combined income tax rate (t)? if the satiate income taxes are 12% of taxable income, what now is the value of t?
q.a toy manufacturer launched a new toy truck last year which was a huge success. 2.5 million invested by company for a
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