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In 1885, first class postage for a one-ounce letter cost $0.02. The same postage in 2015 costs $0.49. What compounded annual increase in the cost of first class postage has been experienced over this period of time?
Why all of this complexity? Why don’t state courts hear only claims based on state law, and federal courts only federal-law-based claims? Why would a plaintiff in Iowa with a case against a New Jersey defendant prefer to have the case heard in Iowa?
Suppose that the quantity demanded in the world market is given by the demand function Qd = 80-0.4P Where P is the price in dollars per barrel and Qd is the quantity in millions of barrels per day. The quantity supplied is given by the supply functio..
The following, adapted from a merger case in 2014, were the approximate U.S. market shares of different cigarette companies: Altria, 47 percent; Compute the Herfindahl for this market, showing how you arrived at this number. Suppose that Reynolds Ame..
Consider a closed economy. Use the supply and demand for loan able funds model to predict the effects of the following events on interest rates and investment.
The difference between the cost to produce the CDs and the price you paid for them spending $30 on two new CDs spending $30 on dinner and a movie with your friends.
What are the characteristics of a pure monopoly market structure? How does a monopoly acheive and maintain its monopoly from other firms? Why is marginal revenue less than the selling price for a monopoly? Why is monopoly considered to be the most in..
GPI is a highly objective alternative to GDP. The main flaw with GDP is that it only includes final goods and services not primary and intermediate good production. Net Domestic Product is GDP after taxes. Over time, the U.S. economy seems to grow ab..
The government imposes a $1.10 excise tax on the sale of every 2 liter bottle of soda. The tax is to be paid by the producers of soda. The figure below shows the annual market for 2 liter bottles of soda before and after the tax is imposed.
What is the relationship between the output of a perfectly competitive market and the output of a monopoly, when both face the same costs (assume constant marginal cost) and the same linear demand?
q1.project a will cost 2533000 and will return 1000000 at the end of 5 years and 4000000 at the end of 10 years.
How can indifference curve analysis be used to compare the effects of lump-sum taxes and price-distorting taxes? What is the excess burden of a price-distorting tax for an individual taxpayer?
suppose the indifference curves for a consumer are positively sloping. What can be inferred about their preferences? Make sure you label your axes and show the direction of higher indifference curves. can consumer surplus be negative? If yes, describ..
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