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A firm faces a demand where q = 256/p^2 . q is quantity demanded, P is price. Its P2 total cost function is TC = 0.5q^2 + 10 . What is its total revenue function in q? What is its profit function? What is its marginal revenue function? What is its marginal cost function? How many should it produce to maximize profit? What is the price it charges to its consumers?
what would the benefits of each action be (besides emissions reduction)? what would the costs of each action be? How would you decide what was the best level of emission reduction?
Suppose GDP equals $9 trillion, consumption share is 0.7 and the government expenditure share is 0.2. Suppose this economy has a budget surplus of $800 billion. If the government increased the tax income by 15%, find public saving, taxes, private sav..
Venezuela had considerable capital outflows after election of Hugo Chavez. If Venezuela had fixed exchange rates, determine what effect would these flows have had on Venezuela's overall balance and value of the Bolivar
What are the four supply factors of economic growth? What is the demand factor? What is the efficiency factor? Illustrate these factors in terms of the production possibilities curve. What are the four supply factors of economic growth? What is the d..
In its effort to reduce the time value of money, the Federal Reserve System began aggressively increasing the supply of money through Quantitative Easing. What is true and what is false about the above statement? Explain
Provide one quote and its context for both a positive and normative statement. Evaluate the statement choices of your fellow students.
illustrate the effect of capital information by comparing the prodution possibitity curves, at the present time and ten years in the future, for two economie, one with a high and the other with a low rate of capital formation.
Recall the formula that states that $V = 1/P, where V is the value of the dollar and P is the price level. If the price level falls from 1 to 0.75, what will happen to the value of the dollar?
The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil...[leading to] the lowest price for domestic crude oil since June 1990." Why were the members of OPEC tr..
Suppose she is offered a new job that would pay her $15,000 and would bring her earnings high enough so that she no longer qualified for any welfare benefits.
If you deposit $2000 in a bank and if the annual interest rate is 2% in year 1 and 5% in year 2 and 8% in year 3, how much money will you have in your account at the end of year 3 if you don’t withdraw any money from this account? Explain your answer..
Suppose U.S. interest rates decline compared to the rest of the world. What would be the likely impact on the demand for dollars, supply of dollars, and exchange rate for dollars compared to, say, euros?
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