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There are two firms in the market that produce pencils. The first firm’s marginal cost curve is given by MC1 = 0.055Q, while the second firm’s marginal cost curve is MC2=0.026Q. Society's benefits are given by 250-4.71Q. What is the consumer surplus at the equilibrium price and quantity?
Suppose that after five years consumer spending doubles to 400. Explain how much do you believe will be the budget share of leisure.
Consider an initial stock of 5000 tons of high grade ore. The demand function for this ore is P = 2400 – 0.2Q (Q is measured in tons/year), and the cost of extraction is constant at c = $200/ton. The discount rate is r = 0.10. Recalculate Q0, Q1, p0,..
A concrete and building materials company is trying to bring the company funded portion of its employee retirement fund into compliance with HB-301.
A television network will allow National Motors to advertise its claim if the appropriate null hypothesis can be rejected
Pear Inc. is a monopolist producing the iWatch, a wristwatch mobile communication device. The iWatch is a device that will last for exactly two periods, after everyone will switch to Boogle Glass, a eyeglass mobile communication device that is not ye..
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
XYZ School District is having budget issues and is facing the possibility of cutting some programs. How could one use ethical principles to address their budget issues?
If company wants to earn a mark-up of 50 percent on its variable costs, explain how many sets will it have to sell at price obtained in part b.
Name three industries where the perfectly competitive model would be the most beneficial in analyzing behavior. Be sure to support your choices.
Do US non-profit organizations with tax exemption under Section 501(c)(3) of its Internal Revenue Code which have investments (such as university endowment funds) have to divulge these investments in any sort of filings? If so, are these required to ..
There is currently a surplus of allowances at the price of zero. What must be true of the relative positions of the market demand and supply curves? Explain. If the EPA were to allow firms to use allowances to emit sulfur dioxide as they did in the p..
Why do you think that approximately one-sixth of the world's population has not experienced much substantive economic growth over the past 30 years?
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