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America takes 10 hours to make a cup and 5 hours to make a bag. In Britain the two goods cost $24 and 6 hours. America has 40 hours of labor available. Which goods does America export. Which country has the higher wage?
Suppose that there are 80 firms in a market, each with the following cost function: C(q) = 100 + 4q^2 A.) Derive the short-run market supply curve. B.) Suppose the market demand is Qd= 1280 - 30P Find the equilibrium market quantity and price.
Over the last one year the Four Winds Novelty Corporation has recorded its internet sales and its monthly total variable costs for a particular novelty item as demonstrate in the following table.
Supply and demand Joy's frozen yogurt shops have enjoyed rapid growth in northeastern states in recent years. From the analysis of joy's various outlets, it was found that the demand curve follows this pattern. Q=200-300P+120 I +65T-250Ac+400 Aj Q..
This question considers a closed economy Keynesian model that is augmented to include transfers payments to consumers (Tr = Transfers) that increase consumers' disposable incomes and lower government savings. a) Suppose you had the following compo..
When Hans calculates his taxes at the end of the year, he writes down on a form how much he invested and multiplies that amount times the inflation rate for the year to arrive at his "inflation compensation amount.
A compnay places a system for $3000000.00. It is expected to last 30 years with a salvage value of $250000.00. It will increase net income by $500000.00 in the first year, increasing 2.4% each year thereafter. The tax rate is 40%, and after tax MA..
at a price of $1 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $1 to $2 is unit-elastic (Es = 1). In the long run, a price increase from $1 to..
A company has an annual requirement for 150,000 parts, which cost $125 each. The parts require processing having a $4,000 setup cost. Each part occupies 0.5 sqft of floor space in the factory. Floor space has a total cost of $12.50 per square foot..
What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output Q1 level is being produced How large is the dollar value of the consumer surplus at that output Q1 level
The Zenvox Television Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5I, where Q is the number of televisions, P is the price per television and I is the average monthly income. Average monthly income i..
Suppose that two identical firms produce widgets and that they are the only firms in the market. Their costs are given by C1 = 60Q1 and C2 = 60Q2, where Q1 is the output of Firm 1 and Q2 the output of Firm 2.
A low-carbon-steel machine part, operating in a corrosive atmosphere lasts 6 yeras, and costs $350. If the part is first treated for corrosion resistance, it will cost $500 part ($150 more than just the part with no treatment) but lasts longer.
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