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The Hawaiian Sea Salt Company sells salt to retail grocery chains in Hawaii and on the mainland. The demand function in each of these markets is: Hawaii grocery chains: P1 = 180 Mainland grocery chains: P2 = 100 – 4Q2 Where P1 and P2 are the prices charged and Q1 and Q2 are the quantities sold in the respective markets. Hawaiian Sea Salt Company’s total cost function for salt is: TC = 50 + 20 (Q1 + Q2) Assuming that the Hawaiian Sea Salt Company is able to charge different prices in the two markets, what are the profit maximizing prices and output levels for sea salt in the two markets? Please explain your answer
What did the Civil War change any opportunity costs in the South. Did the opportunity cost of everything rise? Or did items cost less.
Illustrate what is the GDP of George's and John's island in terms of clamshells.
How would an economist respond to the opinions expressed in this documentary? What aspects of the current food system would an economist view as a positive development?
What is the equilibrium cost as well as equilibrium supply.
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What assumptions do you make answering this question. Elucidate distortions do you think would appear in the economy if such a tax were introduced.
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Compare and Contrast the features of the retirement plans offered by Creative Games and United Manufacturing. Which plan do you think is more desirable? Why?
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