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Assume there are two types of consumers: type A consumers have a demand Q = 10 ? P for widgets, and consumers of type B have a demand Q = 5 ? P. Assume that there are 10 consumers of each type.
(a) Calculate the market demand.
(b) Assume that the market price for the good is $4 due to perfectly elastic indus- try supply. Using the market demand function, calculate the total consumers surplus.
(c) Calculate the total consumers surplus using individual demand functions.
The price mechanism would be least important under which kind of economic system? a) capitalism b) socialism c) communism d) fascism
Pick a real-life rm that bundles products in some way. Describe how this pricing function is a form of price discrimination; in other words, why do some consumers effectively "pay more" for a particular product than other consumers do? Why is it a..
1 according to one automobile group after the city imposed the congestion fee average speeds in central londona
What is the difference in annual worth between aninvestment of $100,000 per year for 100 years and an investment of$100,000 per year forever at an interest rate of 10% per year
Explain why cannot nations like Greece or Spain use quantitative easing as a means to stimulate their economies.
On Thursday nights, a local restaurant has a pasta special. Ari likes the restaurant’s pasta. His willingness to pay for each serving is shown below:
compute the unregulated market level of output and price as well as the socially efficient level. By how much does the market output exceed the socially efficient output, and by how much is the market price below the socially efficient price
Assuming there is no change in demand or the firms cost curves, explain what will happen in the long run to the price of fertilizer, marginal cost, average total cost, quantity supplied by each firm, and the total quantity supplied to the market.
Explain how has technology impacted the workplace over the last ten years. What impact have these changes had on costs and prices.
1. increases in resources or improvements in technology will tend to cause a societys production possibilities curve to
Compute the price of the stock. A stock has a P/Sales ratio of 3. Sales per share is $16. Find the price of the stock.
1) What is the probability that a microprocessor will have 0 imperfections 2) What is the probability that a microprocessor will have more than 2 imperfections 3) Out of the 100 microprocessors on the sheet, how many would you expect to have more tha..
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