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Over 4000 individuals called up Dr. Kalikorn and asked him to perform a new surgical procedure. Dr. Kalikorn booked 2000 of these and told the rest to seek care from another physician. What is his quantity supplied? Explain.
A consumer has a utility function, donuts (A) and peaches (B) given by u(A,B) = squareroot AB. Now suppose the price for donuts is .75 cents a unit. what is the maximizing combination of donuts and peaches.
Which of the following is a short-run adjustment?
Rent controls place price ceilings on rents at levels below market equilibrium rental rates for the stated purpose of making housing more affordable for low-income families. Using demand and supply analysis, answer the following questions:
Suppose that the U.S. government decides to charge cola consumers a tax. Before the tax, 25,000 cases of cola were sold every week at a price of $7 per case. After the tax, 18,000 cases of cola are sold every week; consumers pay $8 per case (includin..
Apply the aggregate demand/aggregate supply framework to predict how the chained CPI could potentially impact the economy in the short-run. Evaluate the long-run impacts of the change.
What is the result of an increase in the price of bread, a normal good? The demand curve shifts to the right. The demand curve shifts to the left. The quantity demanded increases. The quantity demanded decreases.
You have a part time job that pays $8 per hour. Your manager has asked you to work 4 extra hours on Friday night, but you already have plans for dinner and a movie with a friend on Friday night. You value the Friday night activities more than the ext..
The value of the action The cost of the action The difference between the benefit and the cost of the action
What is the particular form of money (M1,M2, etc.) that would be the smallest measure that includes the type of money described in the article. (For example, if the article is about cash, write "M1."
Think of a strategy pursued by the company your work for or another company. How can game theory help improve the outcomes for the decision makers? Explain whether simultaneous-move, repeated-move, or sequential-move games are most applicable in the ..
Conclude whether there is an arbitrage opportunity in the option market, using the put-call parity.
Suppose that the income of the average Canadian household increases because a larger percentage of women enter the labour force. What do you think will happen to demand for the following products or services? What does your answer imply about income ..
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