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Suppose you are in charge of a toll bridge that is essentially cost free. The inverse demand for bridge crossings Q is given by P = 20 - Q/3 , where P designates the potential toll fee.
Nintendo and Sony Playstation are each considering to introduce one new game into the market. Each is planning three different kinds of games: an urban action game like Grand Theft Auto,
In your own words, describe the meaning of average cost. You normally buy a crate of wine for $75. One crate has 6 bottles of wine. After a month, the store clerk informs you that the same crate of wine now costs $82. However, there are 7 bottles in ..
Consider the situation of the concept of Green energy policy and conservation. What is the issue at hand and what are they hoping to do Explain. What are the anticipated benefits of using the electric cars and the new florescent light bulbs
Show that equation (1) implies that per capita investment is also a constant fraction of per capita income. Which equation, which was not stated in the set up of this question, do you need to show this?
What is true about a market in which there is a horizontal supply curve - What is the opportunity cost of 1 loaf of bread in terms of gallons of milk?
The economy has seen unemployment rate raise from 6% to 9.5%, the inflation rate decrease from 2.8% to 1.2%, and there has been a 24% decline in consumer spending and a 45% decline in investment spending in the same time period.
nGDP is $5 trillion in Yr 1 and $5.4 trillion one year later. What is the GDP growth rate? B) If rGDP in Yr 1 was also $5 trillion what can you say about Yr1? C) If rGDP grew 5% between Yr. 1 and Yr. 2 what did GDP prices do?
Opportunity costs are unavoidable when we increase production of any good or service. Why?
What was Real GDP for 2009? What does GDP tell us? How did GDP change from 2008? What caused these changes
Rise in customers income will make increase in the quantity demanded.
When the coporate tax return was filed this year, you began depreciating the jet by using MACRS. Today you received a letter from the IRS informing you that because your company occasionally rents the airplane to others, it is considered a commerc..
Suppose that the real interest rate in an economy is 6%. Real GDP grows by 2.75% a year. The new chief economic adviser to the government argues that a tax increase of $20 billion will generate huge bene?ts because the real interest rate is much l..
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