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Qd=500-5P and Qs=2P-60
What are the equilibrium quantity and price?
How much consumer surplus exists in this market?
If a $2 excise tax is levied on this good, what will happen to the equiilibruim price and quantity?
What will the consumer surplus be after the tax?
The average weekly earnings of bus drivers in a city are $950 with a standard deviation of $45. Assume that we select a random sample of 81 bus drivers.
Suppose that the ecomony is operating below full employment and that it will not overheat during the year.
Explain how the below game should be set-up, played and solved a consumer decide.
Find out the marketplace value of output and household saving. What is the relationship of saving and investment.
Assume banks install ATM on every block and, through making cash readily available, decrease the value of money people want to hold.
Town employees occasionally use their own automobiles on official business. The currentreimbursement rate is $.25 per mile. The employees union complains to town manager thatnumerous studies demonstrate
Consider that an entrant's ability to enter a market is fought, with the possibility of withdrawing from the industry (at a loss of 1 for the entrant and a gain of 8 for the incumbent), or staying (at a loss of 5 for each player).
Provide an argument for or against trade. Explain your reasons. What should government do to support your argument.
Illustrate what does this suggest about the natural free trade pattern of specialization in Argentina. i.e. would we expect that it would be a net importer or exporter.
Elucidate is the point price elasticity of demand for Fantasy pinball machines
In a closed economy without a government sector, consumption is determined as 80% of the income available to households. Investment is autonomous at a level of £450.
Assume the supply of good X is given through Qsx = 10 + 2 Px . How many units of good X are produced if the value of good X is 20?
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