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The U.S. supply of frozen orange juice comes from Florida and Brazil. What is the effect of a freeze that damages oranges in Florida on the price of frozen orange juice in the United States and on the quantities of orange juice sold by Floridian and Brazilian firms?
If you could be strong in one power category, which type would it be? Does this depend on the organization you work for? Why or why not?
What do the latest available data tell you about the current rate of inflation and the current rate of GDP growth? Is the economy in a recession or an expansion?
suppose that firm 2 acts as a price leader and can commit in advance to setting its price once and for all. In turn, firm 1 will react to firm 2 s price, according to the profit-maximizing response found earlier, P1=52.5+.25P2. In committing to a ..
Obtain data on public sector expenditure as a proportion of gross domestic product since 1970. Is expenditure still growing? Assess the answer relative to the arguments of the development model. Do the data describe a relation of demand to income ..
There are two firms in an industry, each owning one plant. Firm 1 has supply function P = 10 + 0.01Q1 (which is the marginal cost of its plant), and Firm 2 has supply function 0.005Q2 + 0.00001Q22
Making dresses is a labor-intensive process. Indeed, theproduction function of a dressmaking firm is well described by theequation Q = L - L2/800, where Q denotes the number ofdresses per week and L is the number of labor hours per week.
Assume that the price of the good is $1 in both periods. Suppose that the household decides to consume 26,000 in period 1 and 32, 000 in period 2. Now suppose that the interest rate falls to 50%, and the household decides not to borrow or lend at ..
Suppose a country can produce a maximum of 10,000 jumbo airliners or 2,000 aircraft carriers. a. What is the opportunity cost of an aircraft carrier b. If another country offers to trade six planes for one aircraft carrier, should the offer be accept..
Dr. Izobel Stevens is physician at the Westbury HMO, a New York City based medical facility serving the poor and indigent. Stevens is estimating the cost effectiveness of a preventive maintenance event,
What are the modified preference orderings of each person? Show that it leads to acyclic social preference. What is then the best social outcome?
Suppose you currently run one shift at your plant. You have $1,000 per day in administrative overhead and the daily wages and materials cost of operating the shift are $30,000. If you expand to two shifts, your average cost per-shift.
Commercial Recording, Inc., is a manufacturer and distributor of reel-to-reel recording decks for commercial recording studios. Revenue and cost relations are: TR = $3,000Q - $0.5Q2 MR = $3,000 - $1Q TC = $100,000 + $1,500Q + $0.1Q2 MC = $1,500 + ..
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