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Suppose that the demand curve for a product is given by P=36-Q where P is in thousands of dollars per auto and quantity is in millions of cars per year.
a. Please make a graph of the demand curve.
b. How much do buyers wish to purchase if price is 20?
c. What other things are held constant when one moves along a demand curve?
d. What is price elasticity of demand at price 20?
Explain why an industry in a perfectly competitive marketplace would choose to remain in business, if its profit is zero at equilibrium.
Illustrate how much will they have accumulated principal plus interest when they reach 65 years old. What is the moral of this situation.
Using two-part pricing , what will be the entry (membership) fee? What will be the per-unit fee? Compute the profit earned from a typical consumer with two-part pricing. Hint: same as perfect price discrimination profit.
the student has decided to save money in equal monthly amounts for 48 months and then pay cash. If the student earns 0.75% per month interest on the money she saves, how much money is the monthly savings?
Make a table showing the value of marginal product for each screen from the first through the fifth. Illustrate what property is illustrated by the behavior of marginal products.
Assume that the returns of these stocks are independent of each other. Find the mean and standard deviation of the total amount that this investor earns in one year from these four investments.
Illustrate what is the equilibrium to this game.
Why would a country such as the United States, which can presumably produce everything it needs itself, choose to trade with other nations?
A survey of economists revealed that more than three-fourths of them agreed with a number of statements, including which of the following.
Conclude which of these three countries would be the best choice also support your answer.
Economic laws are established in order to make successful prediction of the outcome of human action.
q. transfers to the rest of the world 20loans to the rest of the world 60loans from the rest of the world?increases in
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