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What price would I want to sell my 12 posters to my 12 friends if my first friend will buy it for $11 dollars, my second at $10 dollars, and so on until that 12th friend would get the poster for $0 dollars? (The price has to be the same for all 12 friends)Suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5.
Instructions: Enter your answers as whole numbers. For the public debt, enter your answer as a positive number.
a. What is the absolute size of its public debt in year 5? $____________ billion.
b. If its real GDP in year 5 is $104 billion, what is this country’s public debt as a percentage of real GDP in year 5? ___________percent.
A monopolist faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day.Assume that the firm faces no fixed cost.
If everyone were to obtain music and video content for free from websites such as MySpace, instead of paying Universal, what would Universal’s producer surplus be from music sales? What are the implications for Universal’s incentive to produce music ..
what are the methods that labor unions use to increase the wage rates of their members above the levels of nonunion
Your civil engineering consulting firm is going to purchase a new computer-aided design (CAD) system at a cost of $100,000. The CAD system will have no salvage value at the end of its useful life of 5 years.
What are the three types of conflicts and the three loci of conflicts process? What are the steps of the conflict process? What are the differences between distributive and integrative bargaining? What are the five steps in the negotiation process? W..
What is the relative income hypothesis? Evaluate this statement: “Once income exceeds the subsistence level, individual perceptions of the adequacy of their economic performance depend almost solely on relative as opposed to absolute position.”
If you could live anywhere in the world, where would you choose and why? What is one location in the world you would never, ever live? Why not? Be sure to consider and discuss the economic factors affecting your decisions, especially the labor market
Assume The Big Enchilada Restaraunt has been offered a 1 year binding lease agreement for $5200/mth on an attractive site. Before the lease is signed, what is the incremental cost per month?
The current market price is $7.50. At her profit-maximizing level of production, the average variable cost is $8.00, and the average total cost is $8.25. Mrs. Smith should.
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use the phillips curve to describe the tradeoffs between inflation and the unemployment rate both in the short-run and
Demand and supply analysis aids health care leaders in ascertaining the effects of changes in policy on service lines that impact a community’s health (e.g., whether to expand existing services or perhaps close services). Evaluate and identify public..
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