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In California, farmers pay a lower price for water than do city residents. Use this information to work Problems.If farmers were charged the same price as city residents pay, how would the price of agricultural produce, the quantity of produce grown, consumer surplus, and producer surplus change?
Show through an example that a network might have several topological orderings of its nodes. Show that the topological ordering of a network is unique if and only if the network contains a simple directed path passing through all of its nodes.
What are the extensive and strategic forms of the game if, beginning with the variation of problem 1, Beljeau must decide whether to become informed about the size of the market before learning what Jokx does, but if they decide to become informed..
Using the information provided in Problem F-3, illustrate Sue's indifference curve, with water on the horizontal axis and soft drinks on the vertical axis.
Why would increased spending as a percentage of GDP on, say, household appliances or education in a particular economy be regarded as economically desirable. Why, then, is there so much concern about rising expenditures as a percentage of GDP on h..
Suppose you are hired as a traffic consultant to improve traffic patterns among commuters. How should these 5000 cars be allocated over the two routes in order to minimize the total amount of time cars are commuting
Suppose there are two firms in a market who each simultaneously choose a quantity. Firm 1's quantity is q1, and firm 2's quantity is q2. Therefore the market quantity is Q = q1 + q2. The market demand curve is given by P = 60 - 4Q.
Let X be the number of minutes it takes to drain a soda filler of a particular flavor in order to change over to a new flavor. The probability density function for X is: f(x)=X/15, x= 1,2,3,4,5 a) What is the probability that it will take exactly t..
The value of a successful project is $420,000; the probabilities of success are 1/2 with good supervision and 1/4 without. The manager is risk-neutral, not risk-averse as in the text, so his expected utility equals his expected income minus his di..
What do your results in the last question imply about the relationship between the number of police and the crime rate? Are you confident in these results based on the work you have done? Why or why not
The Importance of Economic Indicators on General Election Outcomes in the UK at different stages of a business cycle.
If the price of a bottled water increases from $1.50 to $1.75, and demand decreases from 100 to 89 (per day), what is the price elasticity of demand Is it elastic or inelastic Should the owner of the store increase the price to $1.75 to increase t..
The first operating expense was in July 2005, and the first replacement expense is in July 2009. If all money earns interest at 5% after the time of endowment, what amount would be available for capital replacements at the end of every fifth year ..
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