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As winner of a competition, you can choose one of the following prizes. If the interest rate is 12%, which is the most valuable prize?
Which he can trade at the going prices. He has no other source of income. Illustrate what is Nick's gross demand for x.
Cournot (quantity) and Stackelberg (sequential) Two identical firms, Firm 1 and Firm 2, compete in quantity in a market where inverse demand is P(Q) = 100 − Q and there exists a constant marginal cost of 20 per unit. Find the Cournot equilibrium. Fin..
The subsequent cell-phone offer by Sprint is typical of Illustrate what one can get on a cell phone plan. Illustrate what is marginal cost.
Monopolistically competitive firms try to differentiate their products in order to eliminate substitutes. What are the comparable measures that can be taken in labor markets to decrease the number of “substitutes” for some types of labor? What are th..
Trace out exactly where this 100 increase in income goes in the second round and compare to our simpler treatment with a closed economy and lump sum taxes.
What results in a shortage of oranges?
To aggregate individual demands to the the market demand curve for a rival good one
We grow wheat that sells for $40,000. The wheat is milled into flour that sells for $55,000. The flour is used to bake bread that sells to consumers for $90,000. Typically, a period where GDP is falling for at least 6 months is considered to be:
A 5 percent increase in the price of digital apps reduces the amount of tablet devices demanded by 3 percent. What is the cross price elasticity of demand? Are tablet devices and digital apps complements or substitutes?
Suppose the demand and supply curves for basketballs are given by: Qd = 200 – 5P. Using the demand and supply functions above, the equilibrium price of a basketball is ____, and the equilibrium quantity is ____. On the same graph above, show the effe..
According to the aggregate demand/aggregate supply model, all of the following are effects of increased prices except
Suppose that Apple first announces a quantity of iPhones, then Verizon announces a price for data plans, then Apple announces a price for iPhones. What are those quantities and prices? Suppose Apple has a monopoly on iPhones and Verizon has a monopol..
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