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My brother has a house worth $400,000 and he has no mortgage as it is paid off! His utility bills and insurance and maintenance cost him about $500 per month and property taxes and all other costs about another $500 per month. He claims it only costs him about $1000 a month for shelter since he has no mortgage. Is he correct from and economist viewpoint?
in your own words describe the meaning of average cost. you normally buy a crate of wine for 75. one crate has 6
Set up the consumer's utility maximization problem for prices pi, p2 and income m and how can this person be better off than by consuming the bundle
What is the variable cost and when output is 10,000, what are the average variable cost and the average fixed cost?
Suppose that the following data characterize the hypothetical economy of Trance: money supply = $200 billion; quantity of money demanded for transactions = $160 billion; quantity of money demanded as an asset = $10 billion at 12 percent interest, inc..
the following production table provides estimates of the maximum amounts of output possible with different combinations
Calculate the elasticity of production factors and what conditions must be satisfied by the production function parameters for the returns the scale to be increasing, decreasing or stable?
How much would Wyandotte have to reduce the price of polyol to achieve a 15 percent increase in the quantity sold? Evaluate the impact of such a price cut on(i) total revenue, (ii)total costs, and (iii)total profits.
What is the deadweight loss associated
A firm has two plants, one in Mexico and one in the United States and it cannot change the size of the plants or the amount of capital equipment. The wage in Mexico is $5. The wage in the U.S. is $20.
Rising educational levels of women have been central to our discussions of marriage behavior, fertility behavior and labor force behavior. And, education is a focus of the recent report by the Pew Research Center.
About thirty United States localities circulate their own currency with names like "Ithaca Hours" and Dillo Hours." Doing so is perfectly legal although through law they are subject to a 10% federal tax, which currently the government is not collecti..
Illustrate graphically how the detergent cartel would set price and output and do you think this laundry detergent cartel with P&G and Lever will be stable for the next 5 years?
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