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Find the amount of consumer surplus(CS) for a linear demand P = 20 - 2x, when (i) P = 0 and (ii) P =10 What is the maximum and the minimum amount of CS a consumer can have for this demand and at what prices?
q1. if the government reports that gdp increased at an annual rate of 6.0 percent for the fourth quarter of 2010 by how
Consider the demand for mobile phones. Suppose the price elasticity of demand for the market as a whole is .80. A. If all mobile-phone companies simultaneously increased their prices, will total revenue in the industry increase of decrease.
How did Cummins use regulation as an opportunity?
Suppose that you have just purchased the security, and suddenly the market interest rate falls to 5%. What is the security worth?
Consider the following distribution of income in a 12 person economy, with the modern urban wage=3, the traditional rural income=1 and the informal urban wage = 2: (1,2,3,1,2,3,1,2,31,2,1). the poverty line is at 1.3. What is the level of absolute po..
Describe the supply and demand shifts that are occuring. What would happen to the demand curve if the major taxi companies lowered their rates.
Every country in the world is constructed around the same set of institutional frameworks that differ only in how governments manage them. Identify the specific components of an institution. Finally, analyze the role that extractive institutions pla..
To encourage inner-city youths to spend more time playing sports, the government introduces a super income tax of 10% on professional basketball players and plans to use the revenue to improve inner-city sports facilities. In an attempt to raise more..
The aluminum industry faces a private marginal cost curve PMC = 2Q and a market inverse-demand curve of PD = 60 – QD. However, production creates an externality with marginal damages of MD = Q. What is the resulting price that consumers face with the..
Use Minitab to simulate taking a random sample of 200 male Angus beef cattle (N(1156,84)). How many of the values do you expect to be less than 1072 or greater than 1240? Why do you expect this number? How many of your values are actually in those in..
Some reject fiscal stimulus measures in all policy forms. Explain what the various limitations are to a successful fiscal stimulus. Be sure to consider the damaging activities and decisions of (a) private corporations, (b) commercial banks, and (c) w..
The affordable care act (Obama Care) has specific guidelines. Does the law of the affordable care act require all insurance companies to mimick all 10 titles and all sections? If so, is there a specific time line when all insurance companies will all..
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