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In a perfectly competitive market for electricity, suppose the total cost (in dollars) of generating electricity is given by C(Q)= Q2+100Q, where Q is the unit of electricity produced.
Derive the supply of electricity in this market.
Graph the elasticity of supply electricity, as a function of the electricity price that ranges from $200 to $400. Graph this
(Suppose that the price of electricity changes from $200 to $300, by how much does the producer surplus change?
If the value of jan's retirement portfolio increased from $210000 to 489000 over a 14 year period with no deposits made to the account over that period, what annual rate of return did she make?
If consumer incomes increase, the demand for product Y:
Explain what a market is by giving a definition of the term “market” in expressions like “the market for wheat,” “the U.S. market for anaesthesiologists,” and “the market for the common stock of company X.
If Projects B and G are mutually exclusive, explain how would that affect your overall answers. That is, which projects would you accept in spending the $80,000.
A beautiful bridge is being built over the river that runs through a major city in your state. The cost of the bridge is estimated at $600 M. Annual cost of the maintenance is estimates at $200,000. Also, every 10 years the bridge needs an overhaul m..
For each of the following events, graph and explain the short-run & long-run effects on output and the price level, assuming policymakers take no action.
Betty can make either “12 bottles of wine and 0 boxes of chocolates” or “0 bottles of wine and 96 boxes of chocolates” or a combination of wine and chocolates. Find the equilibrium price (P), quantity (Q), and revenue in a market characterized by the..
Who sells permits and Explain how many do y sell. Who buys permits and Explain how many do y buy. Briefly explain why sellers and buyers are each willing to do so. Illustrate what is total cost of pollution reduction in this situation.
Find out industry's profit-maximizing cost and quantity. Illustrate what is its profit. industry's production manager claims that industry's average cost of production in minimized at an output of 40 units.
Regarding labor markets in general, consider some reasons as to why there is such a wide variation in earnings between participants. In other words, why do software engineers or doctors make more than fast food restaurant employees? In essence, it mo..
Assume that the high costs of performing cause the promissory to breach a contract and pay perfect expectation damages to the promise. Would the promise have preferred that the promissory perform? Explain the gain in total payoffs from allowing the p..
Gatekeeper models of MCOs require patients to see a primary care doctor before going to see a specialist. What two key economic principles would be involved in a successful gatekeeper program?
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