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Bart Wurst runs the only hot-dog stand in a large park in a large boring town. On Sunday’s people in this town all sit in the park and sunbathe. For any t between 0 and 30, the number of people who are sitting within t minutes of Bart’s stand is 15t 2. People in Bart’s town are lazy and hate to walk. They think that every minute of walking they do is as bad as spending $0.10. Everybody in the park has a reservation price of $1 for a hot dog, where the cost of a hot dog includes the subjective cost of walking as well as the money price they have to pay when they get there. (Nobody has ever thought of fetching a hot dog for someone else.) Find a formula for the market demand for Bart’s hot dogs. Explain how you got it.
"Since the statistical discrepancy in the U.S. balance-of-payment accounts is so large, we cannot rely on the U.S. BOP statement to give information on the size of various 'balances' with any precision. Perhaps the U.S. BOP statement is essentially u..
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1s elasticity of demand is -4, while group 2s is -3. Your marginal cost of producing the product is $20. Determine your optimal..
Explain how concentration ratios are calculated. Determine the concentration ratios in the market. Explain how the Herfindahl-Hirschmann index is constructed. Determine the Hefindahl-Hirschmann index for that industry.
Tara bought a corporate bond with a face value of $20,000 at a discounted price of $18,000. The bond pays a dividend every year payable quarterly. What is the quarterly dividend Tara should get if she hopes to get a 12% return on her investments? Ass..
Suppose sellers of liquor are required to send $1.00 to the government for every bottle of liquor they sell. Further, suppose this tax causes the price paid by buyers of liquor to rise by $0.60 per bottle. Elucidate which of the following statemen..
Which of the following trends favor a more labor-intensive method of production? A growing number of desperately unemployed people as the result of rural-urban migration. A limit to the level that wages can fall (subsistence)
Skyscraper City has a subway system, for which a one-way fare is $1.50. There is pressure on the mayor to reduce the fare by one-third, to $1.00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue f..
Let's talk about companies that provide excellent customer service, and those that do not. Specifically, we are looking at a company's overall reputation, not our individual complaints or experiences. How did these companies earn their good or bad re..
"Neither monetary policy nor fiscal policy alone can be effective in formulating sound economic policies for recession." Do you agree or disagree?
Using the midpoint method the price elasticity of Demand for a good is computed to be approximately
question 1 nbspexplain each of the following using supply and demand diagrams.awhen a cyclone hits queensland the price
How did Maynard Keynes propose to address the Great Depression? Did it differ from the Classical views? How does it compare to Monetarism?
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