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One factor that was responsible for roughly one-fifth of the hybrid vehicles purchased in 2007 was a federal subsidy of up to $3,400 per hybrid vehicle increase in sales due to this subsidy is an example of which of the elements of the economic way of thinking? responding to incentives be thinking of at the margin see isolating variables Rd using intentions to
Graphically depict using the Average Total Cost curve (among others) why efforts to break up a monopoly into many small firms will not be successful. Explain your intuition as well.
Clearvoice, a wireless telephone monopolist has 100 consumers, each of whom has a monthly demand curve for wireless minutes of Q=300-100P where P is the per-minute price in dollars. The marginal cost of providing wireless service is $0.30 per minute..
You run a chain of movie theaters, so you commission a marketing study that categorizes your potential customers into 10 equal-sized groups according to what they’re willing to pay for a movie ($10, $9, $8, $7, $6, $5, $4, $3, $2, $1). What price sho..
General Electric paid its line workers $10 per hour last year when the Consumer Price Index was 100. Suppose over the past year that deflation occurred and the aggregate price level fell to 80.
An increase in the market price of men's haircuts, from $15per haircut to $25 per haircut, initially causes a local barbershop to have its employees work over time to increase the number of daily haircuts provided from 35 to 45. What is the short-run..
Describe some important incident, historical figure, cultural value, or movement Woodard mentions which you knew nothing about, and explain it's importance in American history. Be sure to bring up something none of your classmates have already talked..
State and explain the law of diminishing returns. How might this law apply if you were studying for an examination for an online course? What is the difference between explicit and implicit costs? Which of the costs is most closely associated with op..
In order to host the Winter Olympic Games the city of Vancouver incurred a large debt, which will have to be repaid over time. Reflecting on this fact, one Vancouver resident complained, “The average guy is going to see his taxes increase” [Austen, 2..
How do you apply governmental intervention into game theory and its applicability to market behavior? Is governmental intervention predictable and probable?
Compute the utility and MRS of C and F prior to exchange. Based on these MRS values, can C and F gain from exchange? If so, briefly explain how they would exchange.
Long-Term Investment Decisions Due Week 9 and worth 300 points Assume that the low-calorie microwavable food company from Assignments 1 and 2 wants to expand and has to make some long-term capital budgeting decisions.
A firm contemplating entering the market would need to invest $100 million to build a minimum efficient scale production plant. Such a plant could produce about 100 million pounds of cereal per year. What would be the average fixed costs of this plan..
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