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If revenues from selling quantities x and y of jointly produced goods X and Y were
TRX = 300 - xy + 50x and TRY = 1000 - xy + 2y, and 10 units of y were produced, what would be marginal revenue with respect to X?
What is the answer for this problem?
Suppose the tax on liquor is increased so that the tax goes from being a "medium" tax to being a "large" tax. As a result, it is likely that:
Between 2008 and 2009, the equilibrium price of pianos remained constant, but the equilibrium quantity of pianos decreased. From this, you can conclude that between 2008 and 2009, the supply of pianos and the demand for pianos ? .
Martha has the utility function U(x, y) = min {4x,2y}. Write down her demand for x and y as functions of the variables m, px, and py, where m is income, px is the price of x, and py is the price of y.
In Taxland, the first $5,000 earned per year is exempt from taxation. Between $5,000 and $20,000, the tax rate is 10 percent. Between $20,000 and $50,000, it’s 15 percent. Above $50,000, it’s 25 percent. You’re earning $75,000 a year. How much in tax..
In the 1980s, Progressive was a small auto insurance company that sold most of its policies to people who had poor driving records and could not qualify for the standard rate policies sold by other insurers. Progressive charged higher premiums for th..
the demand function for newtons donuts has been estimated as followsqx -14 - 54px 45py 0.62axwhere qx represents
Trading in foreign currencies has an effect on world trade. For example, a rise in the value of the local currency due to daily flows vis-à-vis other currencies makes exports: Positive CoO (country-of-origin) effects might best be associated with:
If you were an economic adviser to the president and someone made this suggestion, what would you say in response to this proposal?
All economic systems (capitalist, communist, or any other) face similar economic problems. Which of the following questions would NOT be faced by all economies?
Draw labor supply and demand curves for cashiers in supermarkets. Show the effect of a rise in the minimum wage to above the current wage rate. do you anticipate large employment gains or losses?
If tax rates stay the same, what will happen to total tax revenue?
Suppose a computer virus disables the nation’s automatic teller machines, making withdrawals from bank accounts less convenient. As a result, people want to keep more cash on hand, increasing the demand for money. Assume the Fed does not change the m..
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