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Every house in a small town has a well that provides water at no cost. However, if the town wants more than 10,000 gallons a day, it has to buy the extra water from firms located outside of the town. The town currently consumes 9,000 gallons per day.
a. Draw the linear demand curve.
b. The firms' supply curve is linear and starts at the origin. Draw the market supply curve, which includes the supply from the town's wells.
c. Show the equilibrium. What is the equilibrium quantity? What is the equilibrium price? Explain.
1. go back to the numerical example with no factor substitution that leads to the production possibility frontier.a.
a farmer buys a new tractor for $146,000 and assumes that it will have a trade-in value of $92,000 after 10 years. the farmer uses a constant rate of depreciation to determine the annual value of the tractor.
The predominant form of CaCO3 in nature is calcite. Marine shells are made up of this form of calcium carbonate.
Draw up the Pecunian balance of payments accounts for 2008 under the assumption that the event described in (c) occurred in that year.
Let C1x2 = 2x2 + 300x + 50 be the cost of producing x items. What is the cost of producing the 89th item? Give both the exact and approximate answers.
Assume that instead the market is monopolized and the monopolist's marginal cost function is 2+Q. Calculate the consumer and producer surplus. How much has the producer gained versus the competitive example in part 1.
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The cost of capturing and storing all CO2 produced by coal-fired electricity generating plants during the next 200 years has been estimated to be $1.8 trillion. At an interest rate of 10% per year compounded monthly
Show how other variables (output, consumption, the real interest rate) behave along the transition path. Explain the patterns of these variables.
What is the probability that at the end of the four exchanges all the balls will be in the jar where they started?
Suppose that the signal is no longer available. Which kinds of job will be filled by which types of workers, and at what wages? Who gains and who loses?
A dendritic tree is a branched structure that emanates from the body of a nerve cell. As part of a study of brain development, 36 nerve cells were taken from the brains of newborn guinea pigs.
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