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What is the consumer surplus under monopoly? A group of firms in competitive market produced 20 units of a good when the market price was $2. They incurred no marginal cost. Eventually they realized the benefits they could get by teaming up and acting as a monopolist.
Illustrate what was the economy's biggest risk--inflation or unemployment.
In your diagram, show that a family that considers food a necessity, given $M/3 in cash would spend less than $M/3 on food. What is the optimal bundle of this type of family if instead of receiving cash it received the SNAP card? g) At bundle H, i..
Jermaine has a health insurance policy that has a deductible of $1,000, a $10 copayment on doctor visits, and coinsurance of 10% on all expenses other than those for which there are copayments.
Assume you flipped an honest coin 10 times and heads came up 8 times.
The demand for a shake at a Juice Shop can be described by the equation: Q=1000-240P+80N, where Q denotes the number of shakes sold every day,
Firm A produces three products. Firm A uses labor costs as a cost driver for support costs. Direct labor is estimated at $20 per hour.
Suppose a consumer has $150 to spend on food and clothing. Food costs $4 per unit and clothing costs $5 per unit. The consumer's utility function is U(c,f) = f^2c. a. Give an equation for the consumer's budget line. b. Give a formula for the consum..
Bill gets utility (satisfaction) from two goods, x and y, according to the utility function u(x,y) = ln(x) +ln(y). While Bill would like to consume as much as possible he is limited by his income, which is 100 dollars.
Find out the optional number of units to put in a package. How much should the firm charge for this package?
Illustrate the stated direction of recent monetary policy. What recent actions have the Federal Reserve taken to confirm that direction
After natural disasters, such as hurricanes, some commentators point to 'bright-side'. It is, for example, often pointed out that natural disasters reason GDP for a region to spike upward during the post disaster cleanup.
For months, beleaguered American customers have defied expert forecasts that they would soon succumb to pressures of falling home prices, fewer jobs and shrinking paychecks.
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