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Elasticity of demand in the market for one-bedroom apartments is 2.0, elasticity of supply is 0.5, the current market price is $1,000, and the equilibrium number of one-bedroom apartments is 10,000. If the government imposes a price ceiling of $800 on this market, predict the size of the resulting apartment shortage.
Calculate your total tax liability under the 2013 federal income tax structure, assuming your income is $75,000. Assume you are single and using the personal exemption of $3,900 and the standard deduction of $6,100. Calculate your effectiv..
What is the impact on the level of real GDP demanded, assuming the price level remains unchanged?
In a long-run perfectly competitive equilibrium, which industry will have more firms?What is economic rent? How does it differ from economic profit?
Suppose you are currently earning $15 an hour. If the inflation rate over the current year is 10 percent and your firm provides a cost-of-living raise based on the rate of inflation, what would you expect to earn after your raise? If the cost-of..
Your company is considering the purchase of new earth movingequipment. The total purchase is $240,000 and we pay with $100,000 cash and borrow therest. (12% per year nominal, compounded monthly for 5 years).
Suppose that the original labor supply curve, for a monopsony shifts to the right to if the firm spends $1,000 in advertising. Under what condition should the monopsony engage in this advertising?
assume that a firm acts as a price taker. regardless of the demandit sells each unit of its product for 5.a assume that
What do you need to know about borrowing?
Delta Software earned $10 million this year. Suppose thegrowthrate of Delta's profits and the interest rate are bothconstant and Delta will be in business forever. Determine the value of Delta Software
If tempering results in the decomposition of martensite, why should we form martensite in the first place?
If the market price is $6 per bushel, what must happen to restore equilibrium in the market. Suppose the market price is $14 per bushel. Is there a shortage or a surplus in the market.
Suppose that demand is perfectly inelastic at 40 million bags, so that consumers demand 20 million bags no matter what the price is. What price should you charge if you want the firm to earn only a fair rate of return Assume as always that TC incl..
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