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Suppose that a market is initially in equilibrium. The initial demand curve is P = 90 - Qd.The initial supply curve is P = 2Qs. Suppose the government imposes a $3 tax on this market. What is the change in consumer surplus due to the tax?
Suppose that in a city there are 100 identical self-service gasoline stations selling the same type of gasoline.
1) Write down expressions for the average cost function, marginal costfunction, and average variable cost. 2)What is the level of output that yields the minimum average cost of production?
Given that there is a fixed supply of land in the world, what implications can you draw from the law of diminishing returns about the effects of an increase in world population for food output per head?
Jen purchased a condo in Naples Florida for $699,000. She put 20% down and financed the rest at 5% for 35years. What are Jens total finance charge?
The question is belongs to Economics and the question discusses the role of microfinance in poverty alleviation in Cambodia. Cambodia is a developing South East Asian country.
what is likely to happen to the curve if wage indexation becomes more widespread? Illustrate your answer on the graph.
Suppose there are two types of investment in the economy: business investment and investment in housing. Suppose that the government institutes a certain subsidy paid to people who build new houses.
ECON 3102-004 Intermediate Macroeconomics Problem set. Consider a representative consumer with the following utility function: U(C, l) = log C + γ log l Find the marginal utility of consumption and leisure
Ralph came to you, his lawyer, for advice and redress. He tells you his story and asks what he can do. You patiently explain to Ralph there are two theories of sexual harassment to pursue. What are they? And what are the elements of each theory..
a. Suppose Px= 9, Py= 16, and Income M. Find the utility maximizing quantities of x and y. b. Find the demand function of x and y. c. What are the price elasticities of demand for x and y? What are the income elasticities of demand for x and y? d. Wh..
What are some of the positive externalities of education? Why may higher education offer fewer positive externalities than primary or secondary education?
Suppose that over a range of prices, the price elasticity of demand varies from 15.0 to 2.5. Over another range of prices, the price elasticity of demand varies from 1.5 to 0.75. What can you say about total revenue and the total revenue curve
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