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There are two firms in the market that produce pencils. The first firm’s marginal cost curve is given by MC1 = 0.055Q, while the second firm’s marginal cost curve is MC2=0.026Q. Society's benefits are given by 250-4.71Q. What is the consumer surplus at the equilibrium price and quantity?
Describe what happens after the technological change. What happens to the wage in the long run? What happens to the population size in the long run?
a if you deposit 10000 in a bank account that pays 10 interest annually how much will be in your account after 5
Explain why perfect personalized pricing is typically more profitable than menu pricing.
Elucidate how the market system efficiently performs the functions of communication, cordination, and motivation in the distribution of resources to consumers.
Which curve shifts, if any, and in which direction. Elucidate the effect on equilibrium price and quantity for minivans.
After reading about the Solow growth model, which concludes that continued economic growth requires continual innovation, and Schumpeter’s dynamic growth model, does the combination of these two models provide an adequate model of technological chang..
Use this equation to explain the level of income at which there is a zero lower bound on the federal funds rate
Suppose the market for wine in the U.S is characterized by : Calculate the deadweight loss if the U.S Imposes a prohibtive tariff per unit of imported wine.
Within the past 5 years a certain country ended its almost 2-year peg (fixed) of its own currency to the US dollar. What country was this? What year did it end? Why did it end its fix to the US dollar?
Does a real externality exist? Or is it just a peculiar externality? If a real external- ity exists, argue which of the government’s tools are best suited to address the issue: taxes/subsidies, cap-and-trade, or something else.
Suppose that a biotech firm makes diagnostic tests and has a fixed-proportions production function in which one unit of output (diagnostic test) is produced using one worker and two units of capital (machines). If the firm has an extra worker and no ..
What is a production function Product. How are they related. Related to each or and to output Long- run. What are economies of scale.
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