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You are becoming addicted to World of Cowcraft, a popular MMORPG. After playing for a few hours, you estimate that in the next hour, you can produce 100 WoC gold. Due to your increasing skill level, you estimate that every hour thereafter your gold output will increase by 12.8% relative to the previous hour. If these estimates hold up, how much WoC gold in total can you mine in the next 50 hours of play (cumulatively for all 50 hours)? Will you ever get those hours of your life back?
Assume the MTA’s production cost curve is given by C=1,200,000,000 + 3.5q where q denotes the number of subway trips. From past fare changes we know that a 20% drop in fares will increase the number of transit trips by 4%. Calculate the first-best tr..
A perfectly competitive firm will shut down immediately when the market price falls below
Sue and Meg have begun operating a house cleaning service for the purpose of earning enough money to travel to Europe. After six months, they had saved enough for their trip, so they stopped operating their business. What is the nature of their busin..
The short run price elasticity of demand for tires is 0.9. If an increase in the price of petroleum used in producing tires causes the marketplace.
This week, we discussed how racial segregation concentrates economic, social, and cultural capital in white communities. This disparity creates dissimilar opportunity structures that distinguish racial groups according to potential life course trajec..
This graph shows an aggregate demand curve and an aggregate supply curve for an economy with no exports or imports. Adjust the position of one or both curves to elucidate graphically the scenario described.
What happens to money supply and interest rates in general if Federal Reserve is a net seller of government bonds.
q.consider a market with demand q 10 - p. currently there is an incumbent in the market with capacity k. there is a
q1. confronted with a choice between 50 today or 100 one year from now economic experts suggest that the vast majority
AAA Personnel, Inc., discharges Barb, who feels the discharge is due to her religious beliefs. She decides to pursue an employment-discrimination claim and file suit against AAA. She could contact the Equal Employment Opportunity Commission
A negative externality causes private markets to produce a level of output that is :
Do protectionist policies benefit producers, consumers, workers, or the government
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