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American Mining Company is interested in obtaining quick estimates of the supply and demand curves for coal. The firm's research department informs you that the elasticity of supply is approximately 1.7, the elasticity of demand is approximately -0.85, and the current price and quantity are $41 and 1,206, respectively. Price is measured in dollars per ton, quantity the number of tons per week.
a. Estimate linear supply and demand curves at the current price and quantity.
b. What impact would a 10% increase in demand have on the equilibrium price and quantity?
1. (1) Let y(t) be a time series with a constant mean E(y(t))=m. Show that the sample mean is an unbiased estimator for m.
Some economists have argued that if the government wishes to subsidize health care, it should instead provide predetermined sums of payments (based on the type of health care problems experienced) directly to patients, who then would be free to ch..
Consider a market characterized by the following inverse demand and supply functions: PX = 50 - 4QX and PX = 10 + 2QX. Compute the surplus producers receive when a $30 per unit price floor is imposed on the market.
consider an economy in which taxes planned investments government spending on goods and serves and net exports are
Why do you think it is important for managers to understand the mechanics of supply and demand both in the short run and in the long run?
This question is intended to understanding of the basic Ricardian model by having you work through a problem on your own. There are two nations, Canada and United States, and two goods X and Y.
The marginal product of labor (measured in units of output) for Expando Corp. is given by MPN = A(400-N) where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $.150 per unit.
heavy rains caused the flooding of the mississipi river and the missouri river as well as some of their
use your own words to explain the idea of equilibrium in the income-expenditure model. as part of your answer explain
good aliens corporation we make good product we have good machines it is all good good aliens corporations a famous
Explain your question and receive the step-by-step response ASAP. Describe in detail one factor which makes an industry a competitive industry and provide a real life example of this factor at work.
How much effort do the students exert in the Nash equilibrium of the game introduced by Amalia and what value for the cake induces the students to exert the efficient effort level
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