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Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?
The wage in Mexico is $5. The wage in the U.S. is $20. Provide current employment, the marginal product of the last worker in Mexico is 100, and the marginal product of the last worker in the U.S. is 500.
this question uses the general monetary model where l is no longer assumed constant and money demand is inversely
Why the short-run demand for gasoline is less elastic than the long-run demand, when the price of gasoline rises, people immediately cut back on unnecessary trips.
What is the highest cost of migration that a worker is willing to incur and still make the move
Suppose you consume nothing but goods X and Y. We have two years.
Explain what percentage change in the price of each of the three goods. Using a method similar to the consumer price index, compute the percentage change in the overall price level.
q1. the demand for basic food stuffs like grains tends to be inelastic with respect to price. use this factor to
According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company. In offering such training programs, is a company violating the optimality rule?
The government has decided to reduce the pollution also from now on will require a pollution permit for each ton of pollution emitted.
Perpetuity A pays $ 100 at the end of each year. Perpetuity B pays $ 32 at the end of each quarter. The present value of Perpetuity A is $ 1428.57. Calculate the present value of Perpetuity B using the same effective annual rate of interest.
Which statement is true? The marginal cost curve is used to determine if a firm is operating at peak efficiency. A firm will always try to maximize its total revenue.
Compute the deadweight loss if the U.S. imposes a tariff of 25 cents per bottle of imported wine.
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