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Recent increases in rents have caused the citizens of Elmville to vote for a rent ceiling of $1200. Assuming all rental units in Elmville are identical and the supply and demand for rental units are given by
Qs = -1000 + 20P
Qd = 50000 - 10P
What will be the excess demand for apartments once the price ceiling is implemented?
What will price and output be if there is no dominant firm? Now assume that there is a dominant firm, whose marginal cost is constant at $6. Derive the residual demand curve that it faces and calculate that it faces and calculate its profit maximi..
What is the law of supply, and what are the factors that cause shifts in supply? What is the law of demand and why is it important?
the company ABC Inc. bought a machine for automatic playback of " software " at a cost of $ 20,000 ( the "original cost" ) . The expectation was that the machine had a useful life of 5 years , after which have a residual value of $ 5,000 ( "salvage v..
College education provides higher income for the individual, but also a more productive and more educated person who will contribute to society in many ways. Carbon dioxide emissions are thought to contribute to global warming, and there is concer..
M is the monopolist selling goods G. M's cost function is c(y)=4y where y is total production of G. Some of M's potential customers are members and get the member magazine with coupons.
Compute the cross-price elasticity of demand between goods X and Y at the given prices. What is the own price elasticity of demand at these prices?
How many spaghetti dinners should the firm make each day and what if the firm has avoidable fixed costs of $1562.50?
United States winter wheat production rise dramatically in 1999 after a bumper harvest. The supply curve shifted rightward; as a result, the value reduced and quantity demanded increased
Calculate the two error measures that you used in other model analysis and comment on the acceptability of the size of the measure.
Compute the average product of grain when each amount is used. Determine the marginal product of grain when between 1,200 and 1,800 pounds are fed, when between 1,800 and 2,400 pounds are fed, and when between 2,400 and 3,000 pounds are fed.
Marketing mix is controllable set of activities that the firm employs to respond to the wants of its target markets. Make a report on the marketing mix and keep the following questions in mind:
suppose the market interest rate is 10 percent. Would you be willing to lend $10,000 if you were guaranteed to receive $1,000 at the end of each of the next 12 years plus a $5,000 payment 15 years from now? Why or Why not?
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