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Suppose the total benefit a consumer enjoyed from consuming each of six cookies were $8+ $6 + $5 + $4 + $3 + $1. If the price of each cookie were $1, what would be the consumer surplus in this market?
A. $8
B. $21
C. $36
D. $37
Covington Corporation purchased a vibratory finishing machine for $20,000 in year 0. The useful life of the machine is 10 years, at the end of which the machine has zero salvage value. The machine generates net annual revenues of $6,000. The annual o..
The ending of company prepayments balance is expected to be the same as its beginning prepayments balance.
Suppose that the external damage is MD = 300 + 5Q; MC = 100 + 2Q; MB = D – 2Q where D is unknown. (a) If D = 1000, what would be the optimal quantity? What tax would be necessary on order for that to be the optimal quantity?
The following equation relates housing price (price) to the distance from a recently built garbage incinerator (dis). Interpret the coefficient on log(dist). Is the sign of this estimate what you expect it to be?
When interest rates in a given economy are reduced, it causes firms to employ __________ capital goods. In terms of the production function (graphed with labor on the horizontal axis and Real GDP on the vertical axis), this then causes ______________..
Diesel Locomotive are extreamley durable. The price of a new locomotive is $450,000 and if it is overhauled every 15 years at a cost of $75,000 it can be operated indifinetly. Annual operating cost (fuel, labor) are estamated at $150,000 a year. What..
What is meant by the statement the questionnaire design is a systematic process? Indicate functions of (a) screening questions, (b) warm-ups, (c) transitions, (d) “skip” questions and (e) classification questions?
Explain the main channels (not the Fed’s tools: omo, rr, dr) through which the Fed can influence economic activity. Specifically explain the ways that Fed policy can influence consumption, investment, net exports, GDP, inflation and unemployment.
Elucidate which of the subsequent statements is correct regarding the equilibrium cost also quantity of X.
Briefly define the following terms. Tariff escalation, Optimal tariff rate, Ad valorem tariff equivalent, Voluntary export restraint (VER), Terms of trade effect (of subsidy), Harmonized System (HS) of commodity Classification, Common external tariff..
Recreational use of marijuana has been declared legal in Oregon. How might this information affect the market for marijuana in Oregon?
What is the current account for the economy below? If there is no statistical discrepancy what is the capital account?
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