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Q1. The market demand and supply functions for pork are: QD = 2,000 - 500P and QS = 800 + 100P. To help pork producers, the U.S. Congress is considering legislation that would put a price floor at $2.25 per unit. If this price floor is employed, explain how many units of pork will the government be forced to buy to keep the price at $2.25? How much will the government spend in total? How much does producer surplus increase?
Q2. Suppose there are two events, A and B. A and B are mutually exclusive. P (A) =.4, P (B)=.5. What is P (A'∩B')?
Elucidate the common kinked-demand model. In the oligopolist's marginal-revenue curve, elucidate the reason for gap. In this model explain how does price rigidity in oligopoly.
Explain how each change mentioned in the article impacts upon the aggregate expenditure model.
If your employees are self-interested, how much output would you expect each individual worker to produce absent monitoring.
Afterward on same day Jane Harris discussed a loan for $5400 at same bank. Exemplify after these transactions, the supply of money.
Bud Owen operates Bud's Package Store in a small college town. Bud sells six packs for off-premises consumption.
the mainstream theory of the business cycle, is the most common source of reciession: a decrease in aggregate demand, a decrease in aggregate supply, or both.
Assume the price elasticity of demand for heating oil is 0.7 in the long run also 0.2 in the short run.
Show that a specific tax of $3.70/unit generates the same revenue as a 20% ad valorem tax
A concrete and building materials company is trying to bring the company funded portion of its employee retirement fund into compliance with HB-301.
Disposable personal income equals personal income and two factors are the keys to determining labour productivity
China has continued to lag well behind the rest of the world in information technologies
If interest rates remain unchanged, what is the expected capital gains yield, stated as a percentage, over the next year for Bond A and for Bond B.
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