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Suppose there were no property rights with regards to automobiles, assuming that it is illegal to interfere in any way with a person's use of any automobile , what is going to happen in the long run if this is the case?
A monopolist has the following total cost curve. where P(Q) is the price that consumers are willing to pay forQ units of output. Find the welfare loss due to monopoly. Assume that acompetitive firm will equate marginal cost to price.
A small manufacturing company has an estimated annual taxable income of $95,000. Due to an increase in business, the company is considering purchasing a new machine that will generate additional before-tax annual revenue of $50,000
suppose that there are 100 identical individuals (denoted j) in the economy each with the inverse demand equation P = 200 - 60qj. How do you solve for the industry supply curve and for the industry demand curve. Solve these for equilibrium industry..
In 2012, the box industry was perfectly competitive. The lowest point on the long-run average cost curve of each of the identical box producers was $4, and this minimum point occurred at an output of 1,000 boxes per month. The market demand curve..
plot the Lorenz curves corresponding to the two sets
As part of a marketing study, the food king supermarket chain has randomly sampled 150 customers. the average dollar volume purchased by the customers in this sample was $31.14, that is , the sample mean from a sample of size 150 was $31.14. Befor..
a) Suppose the inputs in problem 5 can be purchased at the same price per unit. Will production be relatively labor intensive or capital intensive b) Suppose input prices are PL= 40 and PK = 80 and the price of output is 10. Determine the optimal q..
What are the implications of these measures for government economic policies?
hurricane delayed the cash inflows that the managers of firm metro expected from a project that being built and
Pothole repairs on the Mount Hope Bridge are estimated to cost $150,000 per year into the foreseeable future. If the state wants to set up a perpetual fund to finance the pothole repair, how much money do they need to deposit now at 4% interest
Following are observations on the market price and the quantity of good X produced and consumed in three different years: $10 and 100 units, $4 and 57 units, and $8 and 88 units. Can we conclude that the market demand for X slopes upward
Suppose you are designed a new computer and want to make sure it is optimal for your needs. Random Access Memory can be added to your computer at a cost of $100 per gigabyte. For you the benefit of the first gigabyte of RAM is $800, and the benefi..
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