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I will be looking to see if you have mastered the concepts of consumer and producer surplus 1. Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, the posted price for the item is $150. Discuss how this scenario relates to producer and consumer surplus and how such surpluses, if any, affect buying and manufacturing decisions 2. Discuss any recent purchases you have made and for which you feel that a similar rationale seemed to be at work.
A successful man make a donation to his Sister for building a new store and upgrading shops, as well as for establishing a store fund. The donation is planned to be spent as follows: $200,000 each year for the first three years, $250,000 each year fo..
Finally, find the locus of zero-profit contracts (y1, Yi) for the insurance furn if it knows that it is dealing with a high-risk client, with a low-risk client, a
)Now suppose that some of President's close political advisers are urging him to adjust taxes but not spending. Assuming the same initial level of G (=500), how would you advise the administration to adjust taxes to reach potential GDP?
What are the marginal costs in terms of labor
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You will evaluate the pros and cons of FDA regulation of the pharmaceutical industry - the costs and benefits of the FDA's contributions to patient safety.
Why might the official measured rate of unemployment not accurately reflect “real unemployment? What has contributed to the public debt in recent times? What are the burdens associated with a large and growing public debt?What constraint do policy ma..
Determine the least cost size and number of the milk processing plant using the equation and Derive the marginal cost for the two products 1&2 and show that it is a constant.
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Inflation Targeting
Name some areas of business in the United States where the prevailing market structures have changed dramatically in last 20-years and discuss the direction of change
Which will be the outcomes of the bargaining process
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