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Dr. Dolittle decides to sell his current home and move to a larger home. He estimates that he can sell his current home for $100,000 and can buy a larger home for $175,000. He plans to use the entire $100,000 sale proceeds as a down payment on the new home and will finance the remainder for 10 years at 6% nominal annual interest compounded monthly. What is his estimated monthly mortgage payment?
The remaining ten men are also farmers but they produce coconuts without shovels. Each such farmer can produce 50 coconuts per year.
MB is change in total benefit when adding one more unit and MC is change in total cost when adding one more unit. How many burritos should I eat.
Deadweight loss and market failure are created when a market produces
According to the Wall Street Journal, "Rent control disproportionately subsidizes the affluent. A Harvard University study in the late 1980s found that rent-controlled apartments were in some of the city's best neighborhoods, that 94% of their tenant..
In the Castorian Airline market there are only two firms. Each firm is deciding whether to offer a frequent flyer program.
Analyze the various means of taxation available to finance the government and evaluate the alternatives to taxes. Identify if there is an economic limit to the extent to which the government can increase taxes. Justify your response.
During 2006 a leading auto manufacturer produced 20 million of minivans. However due to soaring gas prices the sale of mini vans becomes sluggish and by the end of 2006 only 16 million of mini vans are sold. what is the gdp of mini vans is ?
Suppose you are a manager of a watch making firm operating in a competitive market. Your cose of production is given by C = 100 + Q2, where Q is the level of output and C is the total cost. The marginal cost is 2Q. The marginal cost of production is ..
How would you determine the market structure of the video game industry (i.e., perfect competition, monopolistic competition, oligopoly or monopoly? Your discussion should focus on the key characteristics of market structure and how you might measure..
How could you use the concepts of marginal cost and marginal revenue to maximize profit? What information do you need to determine this? Without this information, how would you make a decision?
You are the manager of a firm that receives revenues of $60,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1, and the cross-price elasticity of demand between product Y and X is 1..
Illustrate what is the effective rate of protection on the process of turning corn into ethanol.
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