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Suppose the market price of corn is $1.50 per bushel.
(a) Would a farmer sell corn to the market or the government (CCC)?
(b) How much of a countercyclical payment per bushel would the farmer receive?
(c) If the market price rose to $2, what would the farmer do with his corn?
A group of 20 doctors are considering forming a new medical group also has asked you to prepare a report on whether they should build a facility in an area.
Elucidate Illustrate what President Roosevelt might have been trying to achieve, using the model of aggregate demand also aggregate supply
Describe why some long-run average cost curves are steeper on the downward side than others.
If going rate for developing a roll of film is $8.50, is industry in long-run equilibrium. If not, find price associated with long-run equilibrium.
When the price of pears fell to $3, what part of the change in Sarah's demand was due to the income effect and what part was due to the substitution effect?
Illustrate what is the price elasticity of demand. What is the cross-price elasticity of demand. Suppose the price of the good, P, goes to $2.00.
illustrate what is james opportunity cost of producing chickens which person has an absolute advantage in which activities which person has a comparative.
what is the derivative dQ/dP at P = $1? d) For each demand curve, what is the point elasticity dQ/dP at P = $1?
An increase in the price of a good causes a:
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. What price should it charge. How many DVDs should it order from which supplier.
For each of the following goods, give your best estimate of its most likely degree of rivalness and (relative) exclusion cost, using the definitions of these variables and the information in the course notes on externalities and public goods.
Illustrate what is the present value assuming a discount rate. Level of consumption or saving will be illustrate what.
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