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John advertises his used car for $5,000 in the newspaper. He would be willing to sell his car for as little as $4,000. Bill values the car at $4,800 but offers $4,500 for it and John accepts. How much producer surplus is created by this trade? How much consumer surplus is created by this trade? Who "won" in this trade?
q1. microeconomics is considered to be the study of scarce resources perloff 2007. here consumers both individuals and
q. a county is considering using a piece of park land for one of two alternative recreation projects. project s would
Numerous times in the lectures labelling the vertical axis as euro per $ and the initial supply and demand curves labelled with 12/07, Label this initial point as point A.
determine which of the risks involved holds the most risk to the subcontractor.
The marginal cost of production is $30. Which product should go to the retail market and which should go to the wholesale market? What are the corresponding retail and wholesale prices? What would happen if the sales are switched from the retail t..
Coke also Pepsi have their market dominance for nearly a century. General Motors also Ford have been hard hit by competition.
Why profits encourage entry into purely competitive industries and explain how losses encourage exit from purely competitive industries.
Illustrate at what output level would the monopolist produce. Illustrate at what output level would a perfectly competitive firm produce.
A firm has $1.5 million in sales, a Lerner index of 0.57, and a marginal cost of $50, and competes against 800 other firms in its relevant market.
If price elasticity of demand = -1.5 and price decreases by 10 percent, then
Describe how many days before the due date the cesarean section should be carried out so that there is no more than a 10 percent chance that the woman will go into labor before that date.
Explain how many ships should be produced month if world chip costs are $62 per chips. Forecast the HSE's profit at this output level.
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