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Big Top is the only circus in the nation. Table 2 sets out the demand schedule for circus tickets and the cost schedule for producing the circus.
If Big Top is regulated to produce the efficient output, what is the quantity of tickets sold, what is the price of a ticket, and what would be the consumer surplus?
Holiday Fruit Company buys oranges and processes them into gift fruit baskets and fresh juice. The company grades the fruit it buys on a scale from 1 (lowest quality) to 5(highest quality). The following table summarizes Holiday 's current invento..
Wildcat Co. has to decide whether or not to drill an oil well. It has $100 current income. Drilling would cost $100; if oil were struck, the company would receive $200 for the oil. If the field is dry, nothing is recovered.
Suppose the dollar interest rate and the pound sterling interest rate are the same, 5 percent per year. What is the relation between the current equilibrium $/£ exchange rate and its expected future level? Suppose the expected future $/£ exchange ..
Likelihood a non-doping rider will get cut from a team for under-performance: 50% Staying clean while everyone else is clean (High Payoff) Expected value- Value of competing for one year: $1 million Expected penalties- None $0 million Staying clea..
a) If P= 10, what is the value of Co What is the equilibrium of GDP What is the level of consumer expenditures in equilibrium b) Leaving P as a variable, solve for equilibrium Y as a function of the price level
zachary has opened a retirement account that will pay 5 interest each year he plans to deposit 10 of his annual salary
A small bottling company finds that it costs $6,000 to prepare 10,000 sixpacks of cola, and $8,000 to prepare 15,000 six-packs. If each six-pack sells for $1.20, find and plot the graphs of the total cost function and the revenue function. Plot th..
The distance from a student's house to campus is a uniformly distributed random variable that ranges between 15 and 75 minutes. What is the probability that the distance from house to school will be between 20 and 40 minutes
Now draw a supply curve that represents the combined supply of these two firms
If Robinson cannot trade with the rest of the world, how will he choose to allocate his labor?What will the optimal levels of F and C be? What will his utility be? What will be the RPT (of fish for coconuts)?
Assume that the current income level in the economy is $600 billion. To reduce the unemployment rate to the desired level, it is determined that we must raise the income level to $650 billion. Assume that C = 25 + 0.75 Yd . To accomplish this, tax..
At a student café, there are equal numbers of two types of customers with the following values. The café owner cannot distinguish between the two types of students because many students without early classes arrive early anyway (i.e., she cannot p..
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