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Consider the problem of a rational consumer with an experienced utility function given by 10ln(x)+m and a wealth level W=100. Suppose that the market price for good x is p=$2 per unit.You are asked to analyze the impact on the consumer's demand of the following three policies, under the assumption that the market price does not change A. The consumer receives a 'buying incentive' from the governmnet equal to $1 per unit of x bought. B. If the consumer buys x units of the good, he receives a total cash rebate of pln(x) dollars. C. If the consumer buys x units of the good, then he receives another x units for free. What is the amount purchased by the consumer at the policy that generates the largest demand ?
Suppose the demand for a product is given by P = 40 4Q. Also, the supply is given by P = 10 + Q.? assume that there is a $10 per unit excise tax levied on the consumers of the product?
Boston based gas station owner set highest gasoline values in the country. During that summer, he charged $1.69 per gallon for unleaded gas during the daytime and $2.59 each gallon at night
Assume that in the perfectly competitive industry the equilibrium industry quantity is 10,000 units. Assume that the monopoly output is 5,000. For a 2-firm Cournot Oligopoly (N =2) known as a duopoly, what is the likely Cournot QUANTITY for the in..
Suppose the autonomous planned spending increases by 800 billion so that A?p = 5,800. Explain if this increase is the result of increases willingness of financial market firms to lend to consumers and business firms ..
Suppose that the economy is initially at equilibrium, in which total planned real expenditures equals real GDP. Which of the following will occur if there is an increase in autonomous investment?
ethanol is a motor fuel manufactured from corn, barley, or wheat, and it can be used to power the engines of many autos and trucks. suppose that the government decided to probide a large per-unit subsidy to ethanol producers.
A rental car company has an imbalance of cars at seven of its locations. The following network shows the locations of concern (the nodes) and the cost to move a car between locations. A positive number by a node indicAtes an excess supply at the n..
Select one principle and create an additional example that will help students understand that principle better. Based on the five economic principles discussed, give your opinion on the one which is the most important and useful concept in your lif..
Using aggregate demand, short run aggregate supply, and long run aggregate supply curves, describe the process through which each government policies will move economy from one long run macroeconomic equilibruium to another.
Does microeconomics apply to every nation in the world. Explain your reasoning. and explain the specifics of any cases or examples you use and the implications of similar on local citizens of that country.
Case study any global economic event or events currently or recently covered in the news media and write a critical essay applying the concept points
Suppose you are the Chief Economist of Antitrust Division of the Department of Justice. There is a single manufacturer of streaming video services that has a patent on technology so that no one else can give the service.
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