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A vertical, frictionless piston-cylinder device contains a gas that is in equilibrium with the weight of the piston balanced by the internal pressure for the gas.
Suppose the mass of the piston is mpiston, the area of the piston cylinder is Acyl, and the atmospheric pressure outside the cylinder is P atm. Derive a formula for the gas contained in the cylinder Pgas in terms of the given information.
College enrollments increased at the same time that average tuition rose dramatically. Does this contradict the law of downward-sloping demand?
Based on the assumption that each family spends $100 plus one-half of its total income each week, what is the total weekly consumption spending of a poor family prior to instituting the tax? What is the total weekly consumption spending of a rich ..
The chair-making industry currently consists of 90 producers, all of whom operate with the identical short-run total cost curve STC(Q)=500+3Q2, where Q is the annual output of a firm. Only $200 of each firm's fixed cost is sunk. The market demand cur..
Doesn't the labor theory of value imply that people should write the labor content of their commodities on the price signs instead of amount of money? How would you answer your friend?
The market price of the product the firm produces is $4 at each quantity supplied by the firm. What is the amount of labor that this profit-maximizing firm will hire,or what wage rate will it pay.
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $49 and the price at point e is $24 per bag. The price at point f is $48 and the price at point g is $13 per bag.
What is the total product function for Dimex? The average product function? The marginal product function?
Consider the following situations related to a sports stadium in a city. Assume this is the primary venue for sports games. Decide whether the city government is likely to intervene to enforce antitrust law or not. (a)The stadium is purchased by a..
Suppose a tax per unit output (per-unit tax) is imposed on the production of Q with the intent of making equal the market level of output and the socially efficient level. How high should that per-unit tax be? What is the gain in net social benefi..
Many airline routes worldwide are served by only one airline (a monopoly). Within the U.S., these are often from a small or mid-sized city to a major carrier hub and frequently operated by a regional carrier under contract to the larger airline.
Your consulting company has been hired by an airline to analyze data on passenger and luggage weights. The data refer to a 200 seat aircraft that is always full. You are given data that show that as a good approximation passenger weights W ~ N (15..
Plot these curves on graphs. Compare the cost curves and discuss their characteristics.
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