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If the local bus company raises its price per rider from $2.50 to $2.75 and its total revenues rise, what can we say about its elasticity of demand? What if total revenues fall as a result of the price increase?
Who pays the rest of the tariff amount? Can you show this graphically?
Consider a committee that consists of three people, A, B, and C, that is to examine three proposals, x, y, and z. The committee can adopt at most one of the three proposals; it also has the option of adopting none.
There are 200 pounds of food on an island that must be allocated between 2 marooned sailors. The utility function of the first sailor is given by Utility= ( F1) Where F1 is the quantity of food consumed by the first sailor. For the second sailor ut..
Explain how equilibrium would be restored in the circular flow of income if there was a reduction in the overall level of planned investment expenditure. S. What are the policy choices available to governments with respect to the manage-ment of ag..
If R and F both have 12 hours of labor that they can give to catching fish or goats, and R requires 1 hour to catch a fish and 2 hours to catch a goat, F requires 6 hours to catch a fish and 3 hours to catch a goat. They are able to trade at Pf=Pg..
You are given a payoff matrix for a zero-sum game. You see that for one pair of strategy choices by the two firms, A's payoff is 9 and B's payoff is 6. For a second set of strategy choices, A's payoff is
a monopsonic fast food chain exhibits a demand for labor given by w210-3l where w denotes the wage and l the quantity
(Fiscal Policy) Define fiscal policy. Determine whether each of the following, other factors held constant, would lead to an increase, a decrease, or no change in the level of real GDP demanded:
Find the equilibrium price and quantity
You have just received a proposal from the marketing department that your firm's advertising budget should be increased by 20% from its current level of $250,000. The marketing department feels the proposed increase will stimulate sales and enhanc..
The selectivity of Mo:oxide is 20:1. Calculate oxide loss as a function of overetch time.
Many states have passed laws that immunize owners of undeveloped land from liability if they open the land for recreational use. What outcome in (a) will result under this rule?
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