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If voters are well informed about the costs and benefits of the waste disposal system, what capacity will voters choose? If voters are rationally ignorant, will bureaucrats install the efficient capacity? Explain your answer.
Compute the elasticity for each variable and briefly comment on what that data gives you in each case.
Assume the demand function for basketballs is given by QD = 150 - 3P + 0.1I, where P = price of a basketball and I = average income of consumers. Also, assume the supply of basketballs is given by QS =2P. If the market for basketballs is perfectly..
Find the output level at market equilibrium.
How does this tool assist the marketing and management teams to solve problems within the company?
if a consumer has indifference curves that are convex to the origin but have a kink in them (similar to the perfect complements example, except the angle at the kink is greater than 90 degrees) how can we determine the optimal bundle
Data is collected by tracking specific individuals orsubjects over time and across subjects. What is the categories that differentiate the nature of data
Assume the following values for Figures 5.4a and 5.4b. Q1=20 bags. Q2=15 bags. Q3=27 bags. The market equilibrium price is $45 per bag. The price at a is $85 per bag. The price at c is $5 per bag. The price at f is $59 per bag. The price g is $31 ..
The Acme chemical company paid $45000 for research equipment, which it believes will have zero salvage value at the end of its 5 year life. If the straight line (SL) method is used, what will be its value after 2 years
A manufacture has been selling 1700 television sets a week at 420dollars each. A market survey indicates that for each 21 -dollarrebate offered to a buyer, the number of sets sold will increase by210 per week.
Find the optimal quantity of football fields when the marginal rate of transformation between football fields and the numeraire is 150. Also, find the optimal quantity when the marginal rate of transformation is 50.
Are there other ways to structure a social security system that might alleviate some of the problems associated with this one? Explain.
A plant is considering buying a second-hand machine to use as stand-by equipment. The machine costs $3,000 and has an economic life of 10 years, at which time its salvage value is $600; expected annual operating costs are $100.
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