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The maximum price that a few of the consumers are willing to pay is $0.20 per pound of cheese, and the price floor is set at $0.17 per pound. With the price floor at $0.17 per pound of cheese, consumers buy 211 billion pounds of cheese. How much consumer surplus is created now?
q1. for mgtp2 the demand functions for good 1 and 2 are given by the equations x1mp2-1 and x2p1p2 where m is income and
q.this problem uses the heckscher-ohlin model to predict the direction of trade. consider the construction of handmade
the price of business travels drops, the company issues a report indicating that its marginal rate of substitution between electronic media and business travel marginal rate of substitution between electronic media and business travel is - 1. Is t..
WSJ's Justin Lahars reports that counties throughout the U.S. have seen employment declines that can be attributed to the importing of inexpensive goods from China.
Compare and Contrast the features of the retirement plans offered by Creative Games and United Manufacturing. Which plan do you think is more desirable? Why?
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1’s elasticity of demand is -6, while group 2’s is -3. Your marginal cost of producing the product is $70. Determine your optim..
In autarky, Jackson produces and consumes 30 units of cattle and 80 units of wheat, while Tahoe produces and consumes 80 units of cattle and 60 units of wheat. Based on this information.
Hebron and Stack discuss the fragmentation of nations - the rise of smaller units within a nation. While this is certainly happening at the same time as increasing market integration and globalization, is this a product of globalization or is mere..
Do you think such a policy will increase demand for electronic appliances.
A new OSHA rule requires that welders be given 2 hour break for every 2 hours of work to prevent carpel tunnel syndrome. Using production theory, explain what will happen to the capital labor ratio in both the short run (when capital is fixed) and..
In 2014 in a country with a labor force of 100 million, 6 million people were unemployed. In 2014 the number of unemployed people increased to 7.750 million. Assuming that the labor force did not increase in 2014, use the Okun’s law and formula predi..
q. abc company expects that it will receive a large order from the spain government. but the order occurs abc will be
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