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Give two examples of possible net surpluses that three voters get from each of two possible political alternatives A and B. Construct your first example so that the alternative that wins a majority vote generates the maximum total net surplus. Make your second example so that the alternative that wins a majority vote generates the least total net surplus. Explain why this happens.
Suppose consumer 1 has the demand function given by D1(p) = 15−p and consumer 2 has the demand function given by D2(p) = (20 − p)/3. At what price the total quantity demanded by the two consumers is 7?
What are some econometrics texts that you would recommend for me? I learned some intro econometrics in a course which taught from Studenmund but was extremely bored.
the european engine company eec is a multi-national manufacturer of small gasoline and diesel motors. eec has predicted
Suppose that the production function for iPods is Q = 20K^0.5L^0.5. The marginal product of labor is 10(K/L)^0.5, and the marginal product of capital is 10(L/K)^0.5. Suppose that labor can be hired for $6, and capital can be rented for $9. If the fir..
The widget Industry in Any town is a monopoly, controlled by Widget Corp. Its demand curve for the local market is given.
How does economic cost work? I know that economic cost: cost of resources used to produce a good, this includes opportunity cost. I don't understand how opportunity cost is included in that though, can someone give me an example?
Suppose there is a bill to increase tax on cigarettes by $1 per pack coupled with an income tax cut of $500. Suppose a person smokes an average of 500 packs of cigarettes per year--- and would thus face a tax increase of about $500 per year from the ..
If oligopolistic firms banded together with the intention of acting like a monopoly it would likely result in their being able to
Illustrate what are some cultural considerations when managing a global project. How might legal and political implications influence global project selection.
Which economy is better off, country A, in which output is growing 6 percent per year with population growth of 4 percent per year, or country B, in which output is growing 4 percent per year with population growth of 1 percent per year?
Electrotech, a maker of household smoke detectors, buys resistors for its smoke alarms for $.15 each. The resistor manufacturer marks-up the resistors from $.10. Does the resistor manufacturer’s mark-up necessarily represent profit?
What aspects of the Glass-Steagall Act do you think Congress or the Executive Branch of government should consider reinstituting to prevent re-occurrence of the 2008 financial crisis (TARP -Troubled Assets Relief Program and the Stimulus); or, do you..
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