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Who gets scarce resources in a market economy?
a. The government
b. Whoever the government decides gets them
c. Whoever wants them
d. Whoever is willing and able to pay the price
Elucidate how would an increase in airfares affect the number of highway fatalities in any one year
q.a survey of households in a small town showed that in 850 of 1200 sampled households at least one member attended a
Explain with a graph and a verbal explanation how a ticket price ceiling placed on a monopoly sports franchise (that does not sell out its games) may actually lower ticket prices and raise attendance.
Consider the problem of the apple farmer. In your own words, explain the farmer’s optimal solution in the free market using marginal cost analysis. How might this solution be suboptimal from society’s perspective? Explain who benefits and is harmed u..
The import tariffs that President Bush placed on imported steel likely had what effect?
An economist estimated that the cost function of a single-product firm is: C(Q) = 110 + 20Q + 30Q2 + 10Q3. Based on this information, determine the following:
Describe an example of a real-world industry or market that would be considered by economists to be a natural monopoly. What characteristics of the industry make it a monopoly? What is the impact of the monopoly power on its customers? Why might gove..
Suppose you plan to purchase a Ford Mustang and need a car finance of $12,000. You take the loan from the K-State Credit Union at 3.5% interest rate. What is the yearly payment to the bank to pay off the loan in 10 years? Please do not just write the..
James earned $10,000 in income in his new job in Nova Scotia after the move and his employer paid him $1,000 specifically to cover the cost of the move, but doesn't specify what it can be used for.
After set up there is a marginal cost of $ 4 for each CD. Set up the total, average and marginal revenue functions for GDM. Write out the company TM s total average and marginal cost functions.
how much would the original $20,000be worth in three years? What is the present value of the $25,000? Which option should Howard choose?
Find the output levels where total product and average product are maximized. What is marginal product when total product is zero?
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