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Now let’s say that there are 100 firms in a (perfectly competitive) market each with an inverse short-run supply curve of P = 2q+10. If the market demand curve equals Q=1000 - 25P, what is equilibrium price and quantity, and how much does each individual firm produce in equilibrium?
Suppose output is growing at 3 percent per year and capital's and labor's shares of income are .3 and .7 respectively. If both labor and capital at 1 percent year what would the growth rate of total factor productivity have to be? What if both the la..
A stock has a beta of 1.15, the expected return on the market is 10.9 percent, and the risk-free rate is 4.5 percent. What must the expected return on this stock be?
Taxes on goods and services like alcohol, tobacco, and gambling winnings (and maybe someday sugary foods and marijuana) are levied to reduce consumption of such goods and to raise tax revenue (
The consulting firm McKinsey and Company expects this combination of medical care and tourism in India to approach $2 billion a year by 2012.
Given the long-term budgetary deficits facing the federal government, some members of Congress have advocated repealing the prescription drug benefit that it created for Medicare beneficiaries in 2003 (i.e. Medicare Part D). If that should happen, ho..
Suppose that Taher's pizza business operates under competitive conditions and that his short-run production function is q=20^E. How much labor does he employ if the price of each pizza is p = $12 and the hourly wage is w0 = $6? [Hint: In this case, i..
Consider a survival game in which a large population of animals meet and either fight over or share a food source. There are two phenotypes in the population: one always fights, and the other always shares. Draw the payoff table for the game played b..
Write an essay on (or discudd) whether or not the justice system is simply a bureaucratic assembly line that does not promote justice as much as it simply ensures its own survival, with an emphasis on production. What should be the professional goals..
What What marketing strategies should Radiance pursue in the next five years? Explain why the strategies you select would best fit the organization. in the next five years? Explain why the strategies you select would best fit the organization.
What factors determine the demand, say, for British pounds in foreign exchange markets? How are exchange rates determined under a flexible exchange rate system?
One has yearly income $10000, the other has yearly income $90000. Illustrate what is the Gini coefficient for this society.
A professional photographer who specializes in wedding-related activities paid $16,000 for equipment that will have a $2000 salvage value after five years. He estimates that his costs associated with each event amount to $65 per day. If he charges $3..
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