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Hank's Honkytonk is a local bar and nightspot. On weekends, it requires a $5 cover charge to defray the costs of the live musical acts Hank brings in. This has worked wonderfully, as it generates capacity crowds and a long line of people waiting to enter. However, after the cost of the acts, he still loses money on the weekends. What is his marginal revenue and marginal cost of a patron on weekends and how should he attempt to fix his unprofitability problem?
1. using the following fixed basket of goods basket 6 pizzas 12
What are the major fiscal policy positions of the Republican and Democratic parties? What do the differences between their positions mean for public policy?
Visit the Bureau of Economic Analysis Web site at www.bea.gov In U.S. Economic Accounts under National click on Gross Domestic Product (GDP), then Interactive Tables:GDP and the National Income and Product Account (NIPA) Historical Tables
onsumption expenditures. bignore inventories because they do not represent final goods. csubtract increases in
Oligopolists are interdependent firms. What is mean by that Explain "strategic behavior" and relate that to the "Kinked Demand" model of oligopoly. Explain the importance of mergers in oligopolistic markets. Is there much price competition in an ..
Your decision to pursue a higher-level degree is based on investment in human capital. What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?
describe how the budget constraint of a household in a two-period model is affected by each of the following changes.
in a simple economy assume there are no taxes thus y is disposable income the consumption function isc 500 0.75y.the
Suppose we start at a position where we are at full employment. Explain what effect a contractiory fiscal policy would have on the price level and real GDP starting from full employment equilibrium. What would the effect be if we had and expansionary..
joe and matilda are two farmers each cultivating some acreage of corn in wisconsin. their plots share a border and a
What is the marginal propensity to consume in Freedonia, and what is the marginal propensity to save?
What is expansionary monetary policy? Why does expansionary monetary policy have an expansionary effect on the economy (that is, why does it cause aggregate demand to increase)? Please explain.
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