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Two hamburger restaurants are located at opposite ends of a north-south shopping mall. From end to end, the shopping mall is 1/2 mile in length. Restaurant North and restaurant South each sell hamburgers for $5.00. A shopper incurs $0.10 per 1/8 mile in travel costs. Shoppers who plan to eat hamburgers are uniformly distributed around the shopping mall. Suppose that restaurant North lowers the price of its hamburgers to $4.90. Suppose that restaurant North raises the price of its hamburgers to $5.10. Other things being equal, how many shoppers will eat at North?
a. 37.5 percent b. 28 percent c. 31 percent d. 44 percent e. 32.5 percent
Assume that a cake is being divided in following way among two players. Each player writes down a number from zero to one on his piece of paper.
Suppose that American Tree, one domestic producer, convinces Congress that because its production methods are the safest in the industry, it should be allowed to be the only supplier of artificial trees to American consumers.
The fear of unwanted price wars may explain why many firms are reluctant and suppose that a new machine tool having a useful life of only one year costs $80,000. Exam: 050474RR - MACROECONOMIC MODELS AND FISCAL POLICY
What are the potential consequences of a country having a large overall debt?
ACME Corporation consists of 250 grocery stores throughout the Midwest. At the starting of 2008 its statement of net worth showed the following data,
Studies have shown a link between rising debt-to- GDP ratios and real interest rates. Investment is not the only category of spending that might be sensitive to interest rates.
Carrie needs to accumulate $40,000 to make a down payment on a house at the end of four years.
a. Calculate the elasticity for each variable at that point and briefly comment on what information this gives you for each variable. b. Should this firm be concerned if macroeconomic forecasters predict a recession
It turns out that the city of Tucson cannot enforce the minimum wage very well and they cannot tell employers whom to hire. An underground market for jobs develops. The city has limited resources for enforcement, so that they can only catch employ..
Compare and contrast the monopolist and the monopolistic firm Monopolistic competition is an inefficient form of organisation. Discuss
Describe various revenue models available as video content shifts from atoms to bits. What are the advantages and disadvantages to each - for consumers, for studios, for middlemen like television networks and Netflix
Describe the implications of this economic forecast and the income elasticity of demand for the pricing strategy.
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