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Q1. Suppose the annual supply and demand in the U.S market for ice cream cones can be expresses as
Qs =200+150P
Qs =800-100P+0.2I
Where P is the price in dollars per cone. Q is the quantity in units, and I equal monthly income in dollars.
Determine algebraically the equilibrium price and quantity and graph the demand and supply curves for cones assuming the average monthly income is $2,000
Q2. What do you think will happen to the price and quantity of DVDplayers if
A. The availability of good movies to play on DVD players increases?
B. Personal income increases?
C. Tickets prices in local movie theatres decline substantially?
Q3. What is the difference between economies of scale and economies of scope? Provide examples for each of them (one example for each of them will be sufficient)?
Illustrate what happens when a cheaper product is offered due to Impact of Government Imposed Price Ceiling that is below the equilibrium price.
Compute and plot yield spread (difference between yields to maturity of console and one-period bond). Is yield spread pro-cyclical or counter-cyclical.
A standard objection to General Equilibrium models is that their long run predictions are irrelevant because in the long run we would all be dead. Evaluate this expression in the context of fiscal and monetary policies to relieve economic stress.
Calculate the price elasticity of demand for Newton's Donuts
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If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is 2. If the absolute value of a demand elasticity is less than 1, then
Which of the following equals the market value of all final goods and services produced in an economy, stated in the prices of a specific base year?
The cost of delay is an important expense to consider when redesigning a procedure. In addition, there is uncertainty in identifying future needs and new procedure that the space will need too accommodate.
By what percentage will the demand for coffee increase each year? Show how you got the solution. How soon will the area have enough demand to support a fifth Starbuck? Show how you got the solution.
An industry's marginal abatement cost is MAC=2000-e. regulator controls emissions by selling 500 permits. Though, industries are also given option of paying a fee of $1000 per unit of emissions for which y do not hold a permit. Draw a diagram illu..
Devise a hypothetical business situation in which buying a look back.
A reputable study finds that a new workplace safety regulation will reduce the rate of economic growth of real GDP. Is this an argument against implementing the new reform? Why or why not?
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