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What is the combined consumer surplus for the customers who buy the Porsche Spyders when the market price is $835,000?
Combined Consumer Surplus: $ ___________
Suppose that a company has a fixed proportions production function that requires it to use two machines and one worker to produce 1000 units per hour. Explain why the cost per hour of producing 1000 units is 2v+w (where v is the hourly rent for the m..
Two firms compete in quantities, selling identical goods, facing the demand function P(Q) = 130−q1− q2 where qi is the output level of firm i. Assume that firm 1 is more efficient than firm 2, MC1(q) = 10 and MC2(q) = 20. Find the NE quantities of th..
Wong subscribes to the 6M plan and uses 150 hours a month. Suppose that Wong's demand curve is a straight line such that if the price of access were HK$20 per hour or higher, she would buy nothing. Draw her demand curve, and calculate her buyer surpl..
A political commentator argues: Congress and the president are more likely to enact an expansionary fiscal policy than a contractionary fiscal policy because expansionary policies are popular and contractionary policies are unpopular. Agree because e..
Assume that gross national debt initially is equal to $3trillion and the federal government then runs a deficit of$300 billion. What is the new level of gross national debt? If 100 percent of the deficit is financed by the sale of securities to feder..
During the fiscal expansion associated with the Vietnam war, what type of expenditures was initially "crowded out?"
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
Current, Greece has a debt of roughly 175% of GDP. The new government has announced it wishes to negotiate a write-off, something Eurozone leaders have so far refused. From prior knowledge and this post, I understand that governments may want to stim..
Why might it be hypothesized that a typical developed country is likely to have a greater relative amount of intra-industry trade than is a typical developing country? Explain.
1. What are the growth promoting policies prescribed by neoclassical models? 2. What are the growth promoting policies prescribed by new growth models? Give me the good explanation.
Calculate the present worth of the following geometric gradient series cash flow: Annual interest Rate =7.07 %, Annual cash flow increases 20% each year, The first year value is $58 and the series is 8 yrs long. Present your answer with 2 decimal pla..
q1. suppose that the market labor supply and labor demand equations are given by qs 5w and qd 30 - 5w. if a minimum
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