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If the current price of the product is $100, what is the quantity supplied and the quantity demanded? How would you describe this situation and what would you expect to happen in this market?
anderson county has 35 older-model school buses that will be salvaged for $5,000 each. these buses cost $144,000 per year for fuel and maintenance. now the county will purchase 35 new school buses for $ 40,000 each.
An investor bought a tax-free provincial bond, at a cost of $1000 which will pay $50 interest each year for 20 years. The bond will mature in 20 years and return the original $1000. If there is a 2% annual inflation during this period, what real r..
Suppose that college students in your tow persuaded the town council to enact a law settings the maximum price for rental housing at $400 per month. Will this help or hurt college students who rent housing In your answer, address how this price ce..
Recall from introductory economics that an raise of $1 in government spending may raise GDP through more than $1. The exact value by which GDP goes up is multiplier.
A small business hires a consultant to predict the increase in weekly sales of their product when advertising is increased to $750. Over the past the consultant finds that the average spend on advertising is $500 per week and the average weekly sa..
Suppose cell phones are available in two basic types: Flashy or Dull. Furthermore, suppose cell phone owners fall into two basic categories: Hipsters or Grannies. Let .55 be the probability of being a Hipster. Also, 40% of cell phones are both Flas..
the origin and do not intersect the axes. The price of sushi is $10 and the price of soy milk is $2. She is spending all her income at the basket she is currently consuming, and her marginal rate of substitution of sushi for soy milk is 4. Is she ..
You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research AT&T spends $15 million on related paper work and compliance costs. Depending on the locale, telecom taxes ca..
Find E(Z) (1 dp) 2. Assuming that X and Y are statistically independent find var(Z) (1 dp) 3. Assuming that cov(X,Y) = 2 find var(Z) (1dp)
Consider the "Odd Couple" game. Felix and Oscar share an apartment, the state of cleanliness of which is a public good. It takes 12 hours of work per week to make the apartment spotlessly clean, 9 hours to be livable, and anything less leaves the ..
GOOD Price yr 1 Quantity of Goods year1 Price yr2 Quantity of goods yr2 Quarts of icecream $6 4 $6 6 Bottles of shampoo $4 2 $4 3 Jars of PeanutButter $3 4 $3 3
how many bushels of apples should the farmer produce? If the government imposes a tax on the sellers which results in the sellers receiving $1 less per bushel sold, what amount of apples should the farmer choose to produce?
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