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What is the process to go about maximizing social welfare?
Demand: P=1000-10Q
Total Revenue: TR=1000Q-10QZ
Marginal Revenue: MR=1000-20Q
Marginal Cost: MC=100+10Q
Using the theory of oligopoly and the concept of prisoners dilemma, explain why the cigarette companies did not cut on advertising on their own to increase their profits before the law went into effect?
If the United States lost hundreds of thousands of jobs, how is it that NAFTA was a best decision for the US also probably not for Mexico and Canada
Suppose that technophiles are willing to pay $400 now for the latest iPhone, but only $300 if they have to wait a year then compute the optimal pricing scheme of the iPhone.
Assuming the phone company has to charge the same monthly rental fee and unit price to all its customers, at what level should it set these charges?
What are the four main components of aggregate demand? Which is the largest? Which is the smallest?
Suppose the real rate of growth of wages subject to Social Security taxes is expected to average 1% per year during the next 40 years. Assume that the Social Security tax rate remains constant, and prove that the average return on Social Security ..
You are the manager of a monopoly and your demand and cost functions are given by P = 200 – Q and C(Q) = 2,000 + 3Q^2, respectively. I answered a & b, just need help with the others.
The percentage changes in quantity demanded divided by the percentage change in price.
Since all economies are faced with scarcity, how might nations attempt to minimize the human hardship associated with scarcity Try to use concepts seen in this unit such as production possibilities frontier, comparative advantage, circular flow, e..
Select a nation that has a low per capita income and discuss how the catch-up effect would work for that country. Consider the determinants of productivity and explain some of the things that would tend to prohibit or limit that country's ability ..
Suppose the average puppy weighs 10 pounds. A sample of 10 puppies yields a sample mean of 13.2 pounds and a sample standard deviation of 2.78 pounds. Assume the population standard deviation is known to be 5.25.
Jason Kidwell is able to purchase Toys'n Things, for $2.2 million. Jason estimates that after initiating his changes in the company's operations the firm's cost of goods sold are 55 percent
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