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Homer' s boat manufacturing has a monopoly on boat sales in the region. Homer' s marginal cost of the 8th boat produced is $1200. He produces only eight boats and can sell all eight boats for $1500. The elasticity of demand at this price is -2. Is Homer maximizing prots? Justify your answer numerically.
Explain why might the private market not reach the socially optimal level of traffic without the help of government.
Write an algebraic formula that gives Mr. Midas' demand for bonds. Illustrate what is the sum of his demand for money and his demand for bonds.
Elucidate how would you argue your case, both in terms of opportunities also necessary local adaptations to successfully enter the region or further develop your presence.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Calculate price, quantity and social surplus for the initial state and each policy.
The marginal damages(costs) associated with that function are MD=2Q+2. Sketch a graph what the marginal benefits and marginal damage curves.
Illustrate what do economists mean when they say that private goods tend to be produced in the right amounts.
Paul owns a home on the top of a hill and enjoys an unobstructed view of a large wooded area.
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move.
Assume that private schools want to maximize profits and that the market for private schools is perfectly competitive.
If the Federal Reserve had maintained a constant money supply in the face of this change, what would have happened to the interest rate.
Explain how does the U.S. Government correct for this apparent market failure.
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