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Demand formula is given as P=150-3Q, and we only have 40 tickets to sell and that the MC=0 and we suppose to figured out how many tickets to sell to maximize total welfare.
Illustrate what would happens to the equilibrium price and quantity. The widget firm in Springfield is competitive,with numerous buyers and sellers.
Elucidate what the Justice Department argued that the merger would lessen competition and raise prices of business software. Is there an economic argument that the merger might actually result in lower prices.
A fairer distribution of rewards may generate a higher average productive effort on the part of the population in that way enhancing efficiency.
Prove utilizing a graph, that a diagonal line through the original would intersect each indifference curve once.
Determine impact on income of a 50 increase in government spending from 250 to 300. Using original data, compute impact of a 50 decrease in taxes from 125 to 75.
It will increase aggregate demand in the U.S. if the decrease in Canadian unemployment is very large. From what angle do you look at this question? I know that AD = C + I + G + NX. But honestly I have no idea where to go from there.
Suppose the demand for honey is given by Q=500-4p. Also, suppose there are 80 honey producers in the market. What is the equilibrium price of honey?
If the tax multiplier is -1.5 and a $200 billion tax increase is implemented, what is the change in GDP, holding everything else constant?
If the price of one good is four time the price of the other also the price of both double, Illustrate what effect does it have on the set of affordable bundles
Illustrate what are the new long-run equilibrium values of these three variables.
The present machine can be sold on the open market for $14000. The cost to remove the old machine is $2000. Which are the relevant costs for the old machine?
For proportional tax system presented in table 7, illustrate what are average tax rates for people earning $50,000, $100,000 and $200,000. Illustrate what are corresponding average tax rates in regressive and progressive tax systems.
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