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Use the principles of supply and demand to address a predetermined goal (set by the student) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is. We will probably revisit some of your choices in future modules.
Lerner Index to compute your price mark-up. What is your optimal price if you produce 1000 units.
The mean time an American family lives in a particular single-family dwelling is 11.8 years. A sample of 100 families in the Sycamore, OK area shows the mean time living in a single family residence is 12.7 years. Can we conclude that the time peo..
Elucidate the impact of inflation, unemployment and the business cycle. Explain if the conditions are consistent with the Keynesian or classical economic theory.
A consumer, D Carroll, spends all of his income on 2 goods X and Y. The 2 goods are both normal but are not complementary. The price of good X is reduced but the price of good Y is unchanged. The consumer continues to spend all of his income on th..
Elucidate a firm competes in the market. Does the firm engage in price or non-price competition
A consumer of two goods faces positive prices for both goods and has positive income. Her preferences over consumption of good 1 and good 2 are represented by the following utility function: u(x1; x2) = 1 - (x1 4)^2 - (x2 3)^2
suppose that in a competitive market for electric power demanded for power is given by the equation p600-q and supply
What is the maximum per unit that sellers are willing to pay intermediaries if hiring them saves buyers $8 in transaction costs c. Does your answer to Question 16a change if buyers pay $8 per unit to the intermediary but sellers offer to rebate pa..
Assume a continuous-time solow growth model with no technical progress. The economy is closed and there is no government sector. Labor supply is given by L_t = e^nt, n>0. The average propensity to save out of GDP is s,, with 0
An entrepreneur plans to convert a building she owns into a video-game arcade. Her main decision is how many games to purchase for the arcade.
1. using your understanding of tax incidence explain why some states do not charge sales tax for basic foods.2. explain
How much have prices risen between 2000 and 2010? Compare the answers given by the Laspeyres and Passche price indexes.
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