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The Snow City Ski Resort caters to both out-of-town skiers and local skiers. The demand for ski tickets of out-of-town skiers is given by Qo = 600 - 10 Po, while the demand for ski tickets of local skiers is given by Ql = 400 - 20 Pl . The marginal cost of servicing a skier of either type is $10. If Snow City Ski Resort (third-degree) price discriminates then the profit maximizing prices (for a ski ticket) are
Explain how “Black Markets” impact economic actives: Please explain in detail and use a supply and demand graph for your examples
In regards to the juvenile justice movement, reference the progressive movement, the advent of juvenile court, the juvenile rights movement and any other pertinent movements within the juvenile justice history.
This deviation from the classical dichotomy and the Fisher effect is called the Mundell-Tobin effect. Explain how might you decide whether the Mundell-Tobin effect is important in practice.
What is social responsibility? How important it is toa customer and an employee?
Explain what would happen to the price and sales in the movie theater ticket prices if the following occur: (1) a decrease in the price of DVD rentals, (2) Increase in the price of concessions at the movie theater and (3) Increase in theater worker's..
RAND study found that the income elasticity of demand for dental care is 0.15. Over the last one decade, income of the population has increased by 21%. Therefore, the income effect alone should a)Increase the demand for dental care by about 3% b)Incr..
A nation that devotes more of its resources to capital investment is likely to:
Suppose that a certain industry is competitive and there are many firms all with the same cost function given by: LRTC=q3 - 2 q2 + 2q (MC = 3 q2 – 4 q + 2 ) The industry inverse demand curve is given by: p = 11 - .2 Q Find LR equilibrium q, Q, n, p, ..
Suppose that the US current account deficit must be reduced. Explain in terms of CA ≈ (S – I) + (T – G) what must be done to reduce the current account deficit. Why will this be difficult? (Hint: It may be helpful to think about the household that ha..
According (the semi-strong form of) the efficient market hypothesis, the price of an asset should reflect all publicly available information about the 'fundamental value' of that asset. What academic theories (i.e. published or in working papers) hav..
State the appropriate monetary policy which the Bank of Canada should be operating, given the above situation.
If the domestic price of oranges is $3.00 per pound and the world price is $2.50 per pound and if the nation allows unrestricted trade, what will be the result to consumer and producer surplus?
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