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External Benefits from Education and Deadweight Loss. Using Figure 30.3 on page 649 as a starting point, compute the deadweight loss associated with reaching the market equilibrium at point a rather than the socially efficient outcome at point b. Notice that the marginal external benefit is constant at $4 per book, so the gap between the marginal private benefit curve and the marginal social benefit curve is $4.
Suppose a firm produces widgets on two assembly lines and operates with the following Total Cost function: TC = 3x*2 + 6y*2 - xy Where x represents the number of widgets produced on one assembly line and y the production on the second.
The mean annual income for people in a certain city (in thousands of dollars) is 38, with a standard deviation of 31. A pollster draws a sample of 43 people to interview. Find the 68th percentile of the sample mean.A certain car model has a mean..
Historical records show that 70 structures with 800 square feet of floor space and 8 foot ceilings were produced in 1999.Then the materials cost for each structure was $25,000 and the cost capacity factor is 0.65. Cost index values for 1999 and 20..
You are the manager of a monopolistically competitive firm, and your demand and cost functions are given by Q = 36 - 4P and C(Q) = 124 - 16Q + Q2 a. Find the inverse demand function for your firm's product. b. Determine the profit-maximizing price ..
Compute the change in the number of unemployed from the first number in the table to the most recent month in the table. Do the same for the number of employed workers. Is the decline in unemployment equal to the increase in employment? Explain in..
The situation is the same as in 1, except that the extraction costs per liter are different every period and now they given by; c1=$10, c2=$20 and c3=$200. What are the optimal extraction plan and the present value of the profit
If an editorial says that Americans are saving at lower amounts ie,20 years ago the average savings rate was 20% of disposableincome. The editorial predicted that this would drop to5 percent in less than five years.
What are some examples of political power countries must give up to be members of an economic union?
Based on data obtained by department agriculture, the relationship between Cows Total output Of milk & amount of grain It is fed is as Follow: Mount of grain(1200/1800/2400/3000) Amount of milk (5917/7250/8379/9317)
The manager of a meat-packing plant can use either butchers (labor) or meat saws (capital) to prepare packages of sirloin steak. Based on estimates provided by an efficiency expert, the firm's production function for sirloin steak is given by Q=K+..
What is the purpose of a continuous improvement program? What role does HRM play in assisting continuing improvements?
Professor Moore forgets to set his alarm with a probability of .10. If he sets the alarm, it will wake him on time to make his first class with a probability of .95. If he forgets to set the alarm, he wakes up in time for his first class with a pr..
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