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On a tropical island there are 100 potential boat builders, numbered 1 through 100. Each can build up to20 boats a year, but anyone who goes into the boatbuilding business has to pay a fixed cost of $19. Marginal costs differ from person to person. Where y denotes the number of boats built per year, boat builder 1 has a total cost function c(y) = 19 + y. Boat builder 2 has a total cost function c(y) = 19 + 2y, and more generally, for each i, from 1 to 100, boat builder i has a cost function c(y) = 19 + iy. If the price of boats is 25,how many boats will be built per year?
The theoretical background and hypothesis and the methodology section and What is the theoretical basis for answering the research question? That is, what are the arguments, given the existing theories, about how you key independent variable "X" i..
Use the given equation and determine the demand equation as a function of Ps if the price of other pastas (Po) is $2,
Suppose instead that the goverment wished to raise GDP to 7,100, but it was unwilling to run a surplus or deficit. Therefore the change in government purchases would have to be matched by and equal change in taxes. What change in government purcha..
Draw a supply and demand diagram 2. In equilibrium, how many packs of cigarettes are purchased? What is the equilibrium price? What is consumer surplus and producer surplus in equilibrium? 3. Suppose that a flat tax of $1.50 per unit is imposed on ..
Briefly discuss the difference between mechanism of an oral or English auction and a Vickrey or second price auction.
Mac Rowe doesn't sweat the petty stuff. In fact, he just cannot detect small differences. He consumes two goods, x and y. He prefers the bundle (x,y) to the bundle (x',y') if and only if (xy - x'y' > 1) . Otherwise he is indifferent between the tw..
Recognize the unemployment rate as an economic indicator for whirlpool, and describe why this indicator would be a good choice.
Use the following equations for demand and supply to solve for market equilibrium price and quantity: Demand: Qd = 100 - 4P Supply: Qs = 10 + 6P
Calculate a 5-year weighted moving average to forecast the number of mergers for 2012. Use weights of 0.10, 0.15, 0.20, 0.25, and 0.30, with the most recent year weighted being the largest. Use regression analysis to forecast the number of mergers..
Determine when the exponents of a Cobb-Douglas production function sum to more than one, the function exhibits
A multiple regression analysis based on a information set that consists of thrity observations yielded the following estimated demand equation:
If you used the uncompensated demand curve to calculate the change in consumer surplus, would your calculation be too high or too low?I. Provide a graph showing the initial outcome, the outcome after price change, the income effect, the substituti..
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