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Using the information below about individuals and their willingness to pay for a bottle of ginger ale, calculate the total consumer surplus at a market price of $5.
Maximum amount a buyer would pay for ginger ale
Scott$10Dennis$4Greg$8Dave$7Mike$5
Some countries do not protect human rights in the same manner as the United States (US).
Elucidate the price should you charge for a midsized automobile if you expect to maintain your record sales.
How does the zero sum myth set people off against each other. Explain. Why are people merely not like chess pieces Explain. How does government provided health care being free for all and granting all benefits fall into the fallacy. Explain.
Elucidate why the MP/P relation is deficient as the sole mechanism for determining the optimal level of resource.
A monopolist faces the following demand curve: P=120-0.02Q-What is the level of production, price and total profits per week?
1. change in quantity of hybrids divided by change in in price of gas 0.25 and change in quantity of suvs divided
What are the advantages of the breaking up of Standard Oil? What were some arguments for not taking this anti-trust action?
Suppose that the economy is thought to be 2% above potential (that is, the output gap is 2%) when potential output grows 4% per year. Suppose also that the Fed is following the Taylor rule, with an inflation rate of 2% over the past year.
You are considering auctioning a Leonardo Da Vinci original sketch. You entice four bidders to come to your auction. The bidders' valuations of the sketch in decreasing order are $3.0, $2.2, $2.0, and $1.5 (in millions). If you used a second-price..
Estimate whether each of following, other things held steady, would lead to an rise, a reduce, or no change in long run aggregate supply, and Describe difference between the government purchases multiplier and the net tax multiplier.
Using macroeconomic data from the Bureau of Labor Statistics (or similar sources), identify the current state of the economy and the role of fiscal and monetary policy stimuli to manage the country's economy
What is the importance of knowing the Median Household Income data?
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