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To conduct an experiment, AMC increases movie ticket prices from $9 to $10 and measured the change in ticket sales. Using the data over the following month, they concluded that the increase was profitable. However, over the subsequent months, they changed their minds and discontinued the experiment. How did the timing affect their conclusion about the profitability of increasing prices? Please show the work needed to understand.
In which of the following situations is the Coase theorem likely to apply? Explain.
Assume two power plants release Sulfur Dioxide (SO2) in Athens, GA. A1 is the abatement in firm1 and A2 is the abatement in firm 2. Please calculate the total costs and marginal costs of abatement for both firms under a uniform allocation approach. U..
A U.S.-based MNC imports 30 percent of its supplies from Europe. Exports to Europe, which are invoiced in Euros, account for approximately 50 percent of its revenues. Explain how the MNC can reduce its economic exposure to exchange and interest rat..
Suppose market demand and supply are given by Qd=100-2P and Qs=5+3p. If a price floor of $30 is set, what will be size of the resulting surplus?
Average visits per week equal 640 when the copy is $40 and equal 360 when the copayment is $60. Calculate the price elasticity using 360 and $60 as the denominators for percentage change calculations.
Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 a. Solve for the goods market equilibrium and state the equation for the AD and IScu..
A firm facing perfect competition is known as a price taker and therefore cannot employ the use of _______?
At the beginning of the year, an audio engineer quit his job and gave up a salary of $ 175,000 per year in order to start his own business, Sound Devices, Inc. What are the total explicit, total implicit, and total economic costs in 2011? What is acc..
Find the optimal quantity of labor supplied by a consumer who has a utility function for leisure (l) and “goods” (y) of U(l,y)=ln(l)+ln(y) , no non-labor income, a wage of 10, and 2000 hours of time.
George and John, stranded on an island, use clamshells for money. Last year George caught 300 fish and 5 wild boars. John grew 200 bunches of bananas.
Which types of taxes are most important at each level of governemnt? Which two taxes provide the most revenue to the federal government?
Suppose that one firm is the only employer of a certain labor service (i.e., the firm is a monopsonist). Assume its MRPL is given by L= 11 w and the labor supply is L = W. What is the wage paid and the number of labor hours hired by the profit maximi..
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