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Consider a perfectly competitive market described by the supply function P = 20 + 0.3Q and demand function P = 120 - 0.2Q. The total economic surplus (consumer surplus + producer surplus) generated by the good when the market is in equilibrium is
An investment that brings $40,000 two years from today is worth what present value in terms of today’s money with an interest rate of 25%?
Currently there is a debate about whether high employment rates in the US are the result of cyclical factors or structural factors. Describe this debate? What impact might immigration have on the different types of unemployment?
Two plants are emitting a uniformly mixed polllutant called gunk into the beautiful sky over Tourist Town. The city government decides it can tolerate total emission of no more than 100 kg of gunk per day.
The weekly demand and supply functions for seats on flights between Syracuse and Boston have been estimated as follows: Qd = 1600 - 2.5 Price + .040 Income - 4 Weather + 1.20 Pa ( where Pa is the price of alternative means of travel ) Qs = -50 + 4.25..
q.assume which at current factor cost s cloth is produced using 40 hours of labor for each acre of land and food is
In a large city, a good, real-world example for perfect competition would be. A firm under monopolistic competition will earn
Suppose you want to test whether the 1993 FMLA actually affected the wages of female workers. Assume you have data on the wages, gender, firm size, and other characteristics (age, education, race, ethnicity, etc.) of workers for the years 1990 to 199..
Suppose a country makes commodity A and B with capital and labour with constant returns to scale technology. When the country goes from autarky equilibrium to trade equilibrium with its trading partner, the price of A rises and price of B remains sam..
Consider a piece-rate-tournament experiment like in the Niederle and Vesterlund paper but with groups of 2: 1 man and 1 woman, both of whom maximize expected value. Calculate the expected value payoffs from piece-rate and from tournament pay for men..
Illustrate what do they mean efficienty level of output. If the government were to build the bridge, what price should it charge.
Illustrate what occurs to consumer also producer surplus when the sale of a good is taxed
Suppose the short-run production function is q = 6L^2. If the wage is $12 per unit of labor, then: What is the average variable cost?
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