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Suppose that the monopolist uses a "two-part tari" where a consumer must pay a lump sum k in order to be able to buy anything at all. A person who has paid k can buy as much as he likes at a price of p per unit purchased. Consumers are not able to resell good 1. For p < 4, illustrate what is the highest amount k that a type A is willing to pay for the privilege of buying at price p?
Describe the differences between the substitution effect of a wage increase and the income effect of a wage increase
Oil and gasoline prices are a concern in the United States. Why does this economic problem exist from a supply and demand perspective, what can be done to improve resource allocations.
Explain is it possible for the new long-run equilibrium price to be above the original long-run equliibrium price.
Elucidate how the construction of tanks can be increased.
Simply speaking increasing inventory turnover is an important goal for retail manager. Illustrate what are the consequences of turnover that's too slow.
Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitability.
Graph the Bens consumption function also find their households marginal propensity to consume.
Can you recognize from the graph the period for which Canada was on affixed x-rate regime with the US dollar and the UK pound? What was this period.
Producing nations outside the organization, like Britain and Norway, should do their share and cut production.
If Englad can produce either 15 units of corn or 30 sweaters in one unit of labor and Portugal can produce 10 units of corn and 5 sweater in one unit of labor as well, explain how would each nation benefit (numerically) from trade.
Illustrate what is the 95% confidence interval estimate of the population mean examination score if a sample of 200 applications provided a sample mean of Xbar=935
Winston Churchill once thought that democracy is the nastiest form of government except for all others.
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