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Jack sees commuting by bus and train as perfect substitutes (U = B + T), that is, he would exchange one commute by bus for one commute by train. The price of a bus ticket is $1.50 and the price of a train ticket is $ 2.00. Jack has $6.00 to spend on commuting. What is Jack's best affordable choice? By how much can train ticket prices increase without making Jack worse off?
Today (year 0) a new 7-megaWatt (MW) solar panel farm is constructed at a cost of $14 million. Four years from today, a smaller 6-MW solar farm will be added to the existing farm. The inflation rate on solar panel construction projects averages 8% pe..
Stanley's profit-maximizing output, price, and profit if he were allowed to set his own price instead of having to charge $0.80.
Which one of the following variables is most likely to increase as production effort is increased? Which one of the following variables is most likely to decline as production effort increases? The efficient price of a license fee is determined by th..
If the probability of Verizon not advertising even though AT&T does not is 10 percent, what is expected payoff to AT&Ts decision to not to advertise?
find the new equilibrium GDP when I increases to 350 and all other values remain the same.
the demand for electricity and the concept that nuclear is cleaner than coal and who the special interest groups are that's involved
What are the market equilibrium price and quantity? What is the effect of a price ceiling of 16? What is the effect of a price floor of 24? What would happen (compared to 3a above) to the market equilibrium price and quantity, to the demand curve, an..
The market where business sell goods and services to households and the government is called
Calculate dollar rates of return on a deposit 10,000 pounds in a London bank in a year when interest rate on pounds is 10 percent and dollar/pound exchange rate moves from 1.50 dollars per pound to 1.38 dollars per pound.
Assume that a consumer can buy only two goods, A and B, and has an income of $100. The price of A is $10 and the price of B is $20. Illustrate what is the slope of the budget line if A is measured horizontally and B is measured vertically.
q1. in the absence of a price floor the maximum price that a few of the consumers are willing to pay is 0.20 for a
Assuming that the marginal cost is zero to provide the rides to those in attendance, what is the best pay-per-ride price
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