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Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2.
a) What are the equilibrium prices and quantities if the firms behave as Bertrand competitors? What are the firms’ profits?
How would you characterize your demand for health insurance — elastic or inelastic? Does the price elasticity of health insurance vary with age, ethnicity, gender, etc.? Does it vary depending on the type of medical procedure needed
You have a utility function characterized by u(c)=c^(1/2). If you have just $5 before you play the game (so you have just enough to play), what will your expected utility be if you decide to play the game?
Marginal Cost = dC/dy = dCv(y)/dy. That is the marginal cost = change in total cost due to the change in output = change in variable cost due to the change in output. Mathematically show the proof.
WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?
given an mpc of .8 if the equilibrium level of aggregate expenditure is 80 billion and there is a reduction in
Parker County Community College (PCCC) is trying to determine whether to utilize no insulation or to use insulation that is either 1 inch thick or 2 inches thick on its steam pipes. The heat loss from the pipes without insulation is expected to cost ..
country a and country b produce fruit and timber. each country has a labor force of 1200. country a can produce 10
This assignment focuses on the comparison of perfect competition and monopoly in terms of efficiency and fairness. To complete this assignment you must complete all of the following questions. Microeconomic Problem
why cant all the balance of payments accounts be in surplus? what factors determine the demand for british pounds in
Give two reasons why can't we compare people with different levels of labor market earnings to measure the income effect for retirement? Make sure to distinguish income and substitution (or price) effects.
The day after Thanksgiving, I've already invested time and money in training you, and don't have time to train a replacement; you suddenly realize you're in a strong bargaining position, and threaten to quit unless I raise your salary.
In the case of monetary impotence without a horizontal LM curve, a rise in government expenditures
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