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Assume the market for Florida oranges is in equilibrium.
Demand is represented by Qd = 60 - 2P
Supply is represented by Qs = 10 + 3P
where the quantity is in thousands of pounds.
If a hurricane strikes Florida, and destroys 20 thousand pounds of oranges, what will the new equilibrium price and quantity be?
Does disposable income measure the before-tax income received by resource suppliers
Discuss some of the decisions that you must make in the short run and what might you consider to be your "fixed factor"
Write down an expression describing total income from tickets plus popcorn plus other concessions. Forecast total incomes for regular also special Tuesday-night pricing.
Assume you are part of a research team evaluating a proposal to clean up a hazardous waste site.
Illustrate what would happen to total employment, the size of the labor force, and the unemployment rate? Show the results graphically.
If Projects B and G are mutually exclusive, explain how would that affect your overall answers. That is, which projects would you accept in spending the $80,000.
Elucidate what will happen to the equilibrium price and quantity of pizzas sold and why (which curve has changed) for each of the following situations:
What will be the CS, PS, tax revenues and deadweight loss? Suppose the government increases the tax to $4 per unit. What will be the new CS, PS, tax revenues and deadweight loss?
Elucidate how the asset demand for money as a green line draw the transactions demand-for-money curve.
Elucidate how production possibilities table or curve reflects law of increasing opportunity costs. Illustrate what do points along PPC recurrent (with respect to available resources).
What will the new Lerner Index be after some time with the new demand curve and market price of 30? What firms survive the new demand curve in the industry and why?
Explicate why the PPF before the war is different from the PPF after the war. Explain how you appraise the role of modern government.
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