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Let the inverse demand curve for tennis classes is: P = 90 - 1.5Q.
(a) If the equilibrium price is $15, calculate the optimal quantity and the consumer surplus.
(b) If price increase to $30, calculate the optimal quantity and the new consumer surplus.
(c) Suppose the club decides to include a membership, what is the maximum membership that the club can fix with the new price?
How would you expect the following to affect the economy wide demand for money? The demand for money represents the desire of households and businesses to hold assets in a form that can be easily exchanged for goods and services.
Suppose each of the five sellers can supply at most one unit of the good. Elucidate the price when market quantity supplied is exactly 3.
If you have to make a random guess and there are four possible answers, what is the expected value of guessing?
Conclude which of these three countries would be the best choice also support your answer.
Ilustrate what is the market price and level of each firm's output in the short run. How much profit does each firm make.
q1. suppose there is a 50-50 chance that a risk adverse individual with a current wealth of 20000 will contract a
Illustrate what is equilibrium price of box. Is this long-run equilibrium price. Explain how many firms are in this industry when it is in long-run equilibrium.
q.rooster4u and clucks are huge fast food chains that sell chicken lunch specials. although both lunches include 2
A steel producer has the production function q=10K^0.75 E^0.25 where q is the quantity of steel, in metric tons, K is the firm's capital stock, and E is the number of labor hours it employs (measured in thousands). a) Assume the firm's current capita..
What are the potential implications of globalization without consideration of cultural differences on ethical issues? Cite specific examples.
Open a Word document and insert the image by pressing the Ctrl+V keys simultaneously. Give reasons to explain what the government would have to do to keep the unemployment rate at 3 percent
Assume that the marketplace for sweaters is perfectly competitive. The future value of a deposit in a savings account will be larger
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