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Assume the daily market demand and supply functions for a good are Qd = 3000 - 6P + 0.002 INC0 , Qs = -1000 + 4 Pwhere INC0 is the exogenously determined average household income.
(a) Find the equilibrium price and quantity if the average income is 50,000 dollars.
(b) Assume average income rises to $55,000, write and graph the new demand function.
(c) Find the new equilibrium solution. What is the impact of rise in income?
Construct a table showing the average variable, average total, and marginal costs of paper cup production. Show your work or embed an Excel spreadsheet into your file showing the formulas you used.
organizations produce outputs that are consumed by customers. because customers are vital to the organizations survival
1. assume that a firm has a total product curve given by q 2kl.a graph the total marginal and average product curves
Both monopolistic competition and oligopoly are market structures
A rich benefactor calls a meeting with two Deans. The benefactor wishes to make a $100 donation to the two schools, but requires the deans to engage in the following bargaining game to divide the money. First the Dean L offers the Dean R a porti..
Presume that a country has no public debt in year 1 however experiences a budget deficit of $30 billion in year 2, a budget deficit of $30 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5. Wha..
In an effort to move the economy out of a recession, the federal government would engage in expansionary economic policies. Describe the actions the government would take in conducting expansionary fiscal policy and expansionary monetary policy.
1.The demand for coal lumps is given by the following: p=140-0.5*Q. The private marginal cost of coal lumps is given by the following: MC=20+0.5Q. In addition, there is an external cost of coal lumps (E) to residents who live near the coal mine where..
a firm in a purely competitive industry is currently producing 1000 units per day at a total cost of 450. if the firm
Assume than an oligopolistic is charging $21 per unit of output and selling 31 units each day. Also suppose that previously it had lowered its price from $21 to $19, rivals matched the price cut, and the firm’s sales increased from 31 to 32 units. It..
identify the hard and soft technology used for both the domestic and global environments. this is not about computers
What is likely to happen to the proportion of schoolchildren classified as "disabled" and why? B. Since the diagnoses of many disabilities are to some extent subjective, how might schools respond to the new education funding system?
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