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If the cost function for John's Shoe Repair is C(q) = 100+10q-q^2+(1/3)q^3, what is the firm's marginal cost function? What is its profit maximizing condition if the market price is p? What is its supply curve?
Each demand curve must eventually hit the quantity axis because with limited incomes there is always a price so high that there is no demand for the good.
What is seignior age? In what sense is it an inflation tax? What are shoe-leather costs? What are menu costs?
Explain how turmoil in global financial markets might affect the demand for loanable funds, investment, and global economic growth in the future and how do the high saving rates in Asia impact investment in other countries?
They could have rented it on the open marketplace for $700 per month. The condo owner was formerly renting the unit for $500 every month.
What does a contractionary gap imply about the actual rate of unemployment relative to the natural rate. What must happen to real and nominal wages in order to close a contractionary gap.
the knowledge you have collected in this course on monetary and fiscal policy actions, critically describe the transmission process.
Suppose that the most popular car dealer in your area sells 10 percent of all vehicles. If all other car dealers sell either the same number of vehicles or fewer, what is the largest value that the Herfindahl index could possibly take for car deal..
Explain what happens to consumer, producer, and total surplus when a firm is able to use price discrimination effectively?
Based on the existing data of the field you believe there is a 15% chance that if you drilled immediately you would find a commercial discovery. You also have the option of investing in more information, which would include more sample wells and d..
The demand for illegal drugs is inelastic. Much of the expenditure on illegal drugs comes from crime. Assuming these statements to be correct, What will happen to the amount of crime?
a. Describe a situation where prices have been held out of equilibrium due to government intervention in the market-the obvious ones discussed in the text are rent control and agricultural subsidies. You may use a specific example of one of these,..
The primary period had been 10 years, what would the compound growth rate have been then. What would you expect the sales to be after 16 more years.
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