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In you are given a pair of equations, one representing a supply curve and the other a demand curve, where p is the per unit price for x items. In each exercise
(a) sketch their graphs on the same set of axes,
(b) identify which is the supply and demand curve and the appropriate domain,
(c) determine the coordinates of market equilibrium,
(d) determine the revenue equation and
(e) determine the revenue at market equilibrium
Unfortunately, the BPAs dams block the paths of migrating fish, contributing to the decline of several species. Suppose that BPA spends $100 million to make its hydroelectric dams less hazardous for migrating fish. Who will bear the cost of this p..
Does their experience lend support for the infant industry argument or help to argue against it?
Suppose that there are two countries, X and Y, that differ in both their rates of investment and their population growth rates. In country X, investment is 20% of GDP, and the population grows at 0% per year. In country Y, investment is 5% of GDP,..
A monopolist serves a market in which the demand is P=120-2Q. It has a fixed cost of 300. Its marginal cost is 10 for the first 15 units (MC=10 when 0
Characterize the Pareto optimal allocation, and show that the equilibrium growth rate in Proposition 13.6 is less than the growth rate in the Pareto optimal allocation.
what is the price level in 2010?b) what was the real GDP in 2011c) what was the velocity of circulation in 2011?d) what was the quantity of money in 2011?
For three years, there was no technological change in Longland but capital per hour of labor increased from $10 to $20 to $30 and real GDP per hour of labor increased from $3.80 to $5.70 to $7.13. Then, in the fourth year, capital per hour of labo..
The four-firm concentration ration for the 494 breweries operating in the US is 91 percent, your team has put together a report suggesting that the merger does not present antitrust concerns even though the two firms each enjoy a 15 percent share ..
The government spends 80, financed by borrowing, to provide public services. If autonomous consumption plus investment is 210 and the marginal propensity to consume MPC = 0.8, what are the equilibrium real GDP values before and after the governmen..
a) Just to provide the 2.7 billion "severely" poor population with $1 more output per day b) To raise the incomes of the world's "severely poor" population (income less than $2 per day) to the official threshold of U.S. poverty (roughly $5,000 per..
A small private university is planning to start a volunteer football program. a random sample of alumni is surveyed. it was found that 250 were in favor of this program, 75 were opposed and 25 had no opinion. a. estimate the percent of alumni in fa..
suppose that the professor imposes a price floor of $15 per book. Sellers are pleased because they think that they will be able to get more money this way. How to calculate how much cash would the sellers receive from selling their books now
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