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Sarah’s friends are trying to convince her to leave her summer job one month early, from which she earns $1200 per month, to vacation in Costa Rica. If she goes there, her out-of-pocket expenses would be $2400. What is Sarah’s marginal opportunity cost of going to Costa Rica? If the marginal benefit she gets from the vacation is equivalent to $3500, should she go? Explain.
If quantity is 20 also if producers receive the seller's price for to output illustrate what is the amount of Producer Surplus.
Explain how much pollution reduction should Appalachian Coal Mining undertake.
During the course of one day, airlines cut fares on nearly 35,881 routes. (a) Briefly explain why airlines might be more likely to match price cuts than price increases. (b) Which theory of oligopolistic behavior does the above situation most res..
Assume that there are 10 million workers in Canada also that each of these workers can manufacture
the united states is experiencing a recession and congress decides to adopt an expansionary fiscal policy to stimulate
Find the total revenue of the monopolist when it sells 6 units of the commodity without practicing any form of price discrimination. What is the value of the consumers' surplus?
Elucidate the difference between tariffs and quotas. Who is harmed and who benefits by this restriction on trade.
Solve the equilibrium in this sequential game. Be sure to characterize the quantity choices, the market price, and the resulting profits. c) Compare the above two outcomes and explain the differences.
What is the optimal production quantity for the card - Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 4,700 and standard deviation 700.
at an annual general inflation rate of f . Also, i = 9%. What is the amount A in actual dollars equivalent to A’ = $1,000 in constant dollars? Please provide step by step detail.
The benefit of cutting down a forest is $1 million now. the environmental cost of that harvest is $10/year forever.
what will happen to the price level and output? Using the AS/AD model, demonstrate your predictions graphically. what policy might you suggest to the government?
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