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Consumer surplus Qx=300-2Px 4 Price=$30 1. Qx=300 ... Consumer surplus Qx=300-2Px 4 Price=$30 1. Qx=300 – Px 1f Px =$30 2. Qx=14 - ½ Px 1f Px=$20 3. Qx= 300 -2Px 1f Px =$45 Find consumer surplus for all 3 of them.
Assume an analyst has been hired to estimate the price elasticity of demand for hamburger (which sells for about $2.30 per pound) and filet mignon (which sells for about $20 per pound), respectively. Considering the different determinants of the pric..
Which of the following represents investment, in the sense that economists use the word?
The price of oranges has risen dramatically. Which of the following is likely to happen?
If an economy experiences a decrease in consumer spending, most economists believe:
What is regionalism? Use European Union as an example to illustrate the major steps toward regional integration. What major features can you identify for regional integration in Europe, North America and East Asia? What are the dynamics for regional ..
Examine the gift tax consequences of the transaction based on the use of the irrevocable trust, as compared to direct payments to the grandchildren.
Can you identify the consequences of a strong dollar or a weak dollar in the United States? Which direction do you prefer for the overall health of the American economy? Should the U.S. take measure to ensure that the dollar retains its dominant role..
Under the responsibility scheme proposed by the Hong Kong government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view? Explain your answer with a diagram ( IT is Microeconomic question)
Do you know which states have the highest unemployment rate right now? As businesses are downsizing in the recession, they are laying off a lot of people. What type of unemployment will then occur?
According to Friedman and Schwartz, what was the consequence for the U.S. money supply of the Federal Reserves crime of commission?
What is the difference between a solicited proposal and an unsolicited proposal?
Imagine that you run the central bank in a large open economy with a floating exchange rate. Your goal is to stabilize income, and you adjust the money supply accordingly. Under your policy, what happens to the money supply, the interest rate, the ex..
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