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Consider a simplified version of the model of the public agency captured in eg. (11.2) suppose inverse demand for Q is given by D(Q)= 10-Q. suppose the price of labor (w) is 1 and production of Q is in direct proportion to the amount of labor used: Q=L.
a. Write an expresion for the budget (consumer surplus) as a function of Q.
b. In a plot of Q versus P, plot the budget constraint and sketch indifference curves for the agency head.
c. On the same figure, sketch the objective function for profit maximizing monopolist.
d. How do the results differ in terms of choice of Q between the profit maximizing monopolist and the public agency?
e. For a given Q, how would the choice of l differ between a profit maximizing monopolists and the public agency?
Write C# application program to be used to evaluate the credit worthy of a client. The program reads the credit limit and the price and quantity of the item to be purchased by the client. If the value of the goods is more than the credit limit, th..
So what is the difference between a limit check and a length check e.g in the case of creating agoogle account page.
what are the implications of market structures for buyers ? ............ and give examples ......... ltbrgt ltbrgt
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Create a diagram to explain your answer. On the same diagram, show what happens if a limit is imposed on the amount of a good that can be sold in the marketplace (e.g., shortages of rubber due to government controls such as tariffs on imports or i..
Shockers Corp. acquires an asset for $200,000 which they estimate 3 years as the service life. For any taxable income, Shockers Corp uses a tax rate of 50%.
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What is the goal of the European Union?
Suppose you give up a job and use some savings to buy a small bus which you drive on a remote rural route. Which of the following costs of your firm is an explicit cost?
you select to work more hours or fewer when offered a higher hourly salary.
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