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Q. you are deciding where to go on vacation in country A where your risk if death is 1 in 10.000 and you pay 600 in vacation. While your choice is to go in vacation in country B risk of death is 1 of 20.000 and you pay 9000 $ to go in vacation. Suppose that you are indifferent in between these designations, save for differential risk of death, and illustrate what does your willingness to pay for se vacation tells you about Explain how much you value your life.
Daily demand for admission tickets can be written as P = 36 - 0.05Q so that MR = 36 - 0.1Q, where P is the price of a ticket and MR is the marginal revenue. Elucidate at what price will CPT sell admission tickets to maximize its profit.
if Night Timers plans to sell 125,000 rolls per year, Illustrate what is the necessary price if the firm is to break even
Which he can trade at the going prices. He has no other source of income. Illustrate what is Nick's gross demand for x.
Suppose life is discovered on Mars and that it turns out to be quite sophisticated. In fact, perfect competition prevails everywhere on the planet. Which of the following characteristics of Martian firms are we likely to observe.
Within the next year? Over the long term. Elucidate what resources does he have at his disposal to enhance the reputation of the firm and turn it round.
Calculate total economic surplus under monopoly also competition. The difference is the social cost of monopoly
In autarky, Jackson produces and consumes 30 units of cattle and 80 units of wheat, while Tahoe produces and consumes 80 units of cattle and 60 units of wheat. Based on this information.
Producers will be made to pay a tax for each beer sold. Use a graph to elucidate why the tax burden will not actually fall on the people that this person wants to punish.
The company wants to replace office equipment like machines and computer at assorted times over the five year planning period.
Consumers buy from the lowest price firm, and the highest price firm sells nothing. If the firms pick the same price, they split the market demand equally.
What is total cost of saving water. Illustrate what is marginal cost saving 1 meter cubic of water.
Explain the logic of the Ricardian view of government debt and evaluating its practical relevance.
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