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In the market for copper, we can obtain copper from two sources. The marginal cost of mining ore is MC1 = 10 + 7q1 and the marginal cost of recycling copperisMC2 =40+2q2
(a) If the total market demand for copper is 50, what amount will come from mining and what will come from recycling?
(b) If the government decides to promote recycling with a subsidy of $20 per unit of copper, how much copper will come from mining and how much from recycling?
Edmund has the utility function U(x, y) = 2xy + 1. The prices of x and y are both $1 and Edmund has an income of $20. How much of each good will he demand? A tax is placed on x so that it now costs Edmund $2 while his income and the price of y stay t..
label a level of population at which the population is expected to decline. Why is the population dexlining at this point?
If a severe drought decreased labour productivity in Zambia, explain what will happen to each of the following.
Suppose that all wages also prices in an economy are indexed to increase. Explain there can still be an increase tax.
Polan's book Affluenza, shows us just how to grow, process, and distribute food sustainably, yet if we are going to avoid eventual collapse as a society, we'll need to figure it out. Build a picture or the various issues that need to be addressed in ..
If a currency can be worth too little (e.g. needing $10,000,000,000 to buy a loaf of bread) and worth too much (e.g. being able to buy a loaf of bread for $0.00001), why isn't there an "ideal value" (a point, range, or a shifting set of priorities ba..
In your paper include a discussion of the opposing position along with your rebuttal (of that opposing position). For instance, if you decided to write a paper explaining that people should be allowed to vote using the internet, then the opposition w..
What sum of money received now is equivalent to $100,000 received at the end of five years from now if the current interest rate is annually 4% compounded every half year period?
q1. suppose you want a lump sum payment of 100000 three years from now. rounded to full dollars how many current
Suppose that George operates a laundromat which requires two inputs, capital (K) and labor (L). His production function is Q=3K^(1/3)*L^(1/3). Suppose George desires to produce 90 units of output, and the cost of labor is $27. What is is capital dema..
illustrate what feature of the value function explains the phenomenon, and how.
Thinking back to the business cycle discussion, how would Keynesian economists explain the performance of the economy during the last few years? Show graphically using the AD/AS model, and explain your reasoning.
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