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Suppose that the demand curve for wheat is q = 100 - 10p and the supply curve is q = 10p. the government imposes a price support at p = 6 using a deficiency payment program.
What is the quantity supplied, the price that clears the market, and the deficiency payment?
What effect does this program have on consumer surplus, producer surplus, welfare, and deadweight loss?
M is the average income in the United States. What could be the impact on your rm.
Why doesn’t the U.S. simply restrict all goods coming in from China? Why can’t the U.S. just minimize the amount of imports coming in from all other countries?
The absolute value of Mars' MRS at his current consumption bundle is strictly greater than 2. Mars has convex preferences. Which of the following statements is (are) true? Justify your answer graphically.
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/20,000, making the marginal revenue MR=1.70-Q/10,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. So, the total cost is..
How should a monopsonist decide how much of a product to buy? Will it buy more or less than a competitive buyer? Explain briefly.
In the United States we have a only few laws for the states to obey. Therefore, in contrast to the federal budget, the budgets of the individual states-------
Describe the shape of the average total cost function and also label the minimum point on the curve.
q1. elucidate the impact of each of the following upon chartered bank reserves1 the bank of canada sells government
Suppose that consumers decide to consume less (and therefore to save more) for any given amount of disposable income. Specifically, assume that consumer confidence (c0) falls. What will happen to output.
The social security system levies a tax on workers and pays benefits to the elderly. Suppose that Congress increases both the tax and benefit.
Adjust the following graph to show the changes in the market between 2001 and 2002.
when final sales are larger than gdpa. inventories did not changeb. a net increase in inventories took placec. a net
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