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The owner of a soccer team and local stadium has commissioned a study that showed the demand by fans for stadium seats (per playing date) to be
P = 22 - 0.2Q
where P is the price of a ticket and Q represents the number of seats (expressed in thousands). The local stadium seats a maximum of 50,000 per game. Assume that all seats are identical. The current price has been set at $10 per ticket. How much revenue does the owner make at this current price?
Explain John Maynard Keynes's concept of effective demand. How is the employment of labor explained in this theory? How does this explanation differ from the neoclassical interpretation of the labor market?
William is the owner of a small pizza shop and is thinking of increasing products and lowering costs. William’s pizza shop owns four ovens and the cost of the four ovens is $1,000. Each worker is paid $500 per week. What number of workers appears to ..
A U.S. wine merchant travelling in France has found a French wine of the same quality as a U.S. wine they regularly sell. She assumes that the real exchange rate should be 1 case of U.S. wine equals one case of French wine. The French wine merchant w..
An increase in government spending initially and primarily shifts which curve in what direction
Consider the economy of Hicksonia. The money demand function in Hicksonia is (M/P)^d = Y - 200r. The money supply M is 3000 and the price level P is 3. Graph the LM curve for r ranging from 0 to 8. Find the equilibrium interest rate r and the equilib..
q. television channel operating profits vary from as high as 45 to 55 percent at mtv as well as nickelodeon down to 12
If I spent all my money ($450,000) on a new house I could buy a house with 4500 square feet. I settle for a 1500 square foot house. (Each square foot costs the same.) The day after I close the deal a nearby nuclear power plant is condemned and the va..
Ryan expects to deposit $1,000 now, $3,000 four years from now, and $1,500 six years from now in an account that is earning 12% per year compounded semi annually through a company-sponsored saving plan. What amount can he withdraw ten years from now?
Explain how much of the tax will the sellers pay. How much will the buyer pay for the product after the tax is imposed.
Define and explain the money multiplier. Identify the change to the money supply in the following situation: The required reserve ratio is 12.5 percent and the Fed increases the monetary base by $100.
New actuator element technology enables engineers to simulate complex computer-controlled movements in any direction. If the technology results in cost savings in the design of amusement park rides, what is the future worth in year 5 of savings of $7..
According to Marx, what is the basis of all history? What two hostile group have competed in recent history? What are the characteristics of the bourgeoisie in their dominance of history? How does Marx define a class? How does he define the proletar..
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