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1. The local government in Jonestown is concerned about the massive increase in milk prices for low-income families. The local government is trying to push through a proposal to limit the price of milk to $3.50 per gallon. The supply and demand of milk in Jonestown is given by the following: QD = 20,000 - 2500P QS = -10,000 + 5000P where Q is the total output of the industry and P is the price per gallon. a. Determine the price-output combination in this market. b. Explain how intervention by the local government will affect social welfare in this market. You may find the use of a graph helpful.
Find consumer'sA utility maximizing combination of Qax and Qay. At this point compute the level of utility enjoyed by consumer A.
question suppose we can divide all the goods produced by an economy into two types consumption goods and capital
Suppose that P = 400 - 20Q and that there are 3 firms, each with a marginal cost of 30. Suppose that firms 2 and 3 merge. The merger allows the combined firm to lower its marginal cost to 20. Does the merger lead to a higher or a lower cournot equili..
let us consider a hypothetical economy that is described by the equations shown belowc 300 0.75 yd - 300 rt 100
Others meter water use and charge according to the quantity of water customers use. Compare the way the two systems would affect the cost of water use at the margin and the use of water by rational consumers.
1. according to the law of demand other things remaining the same if the price of a gooda. rises the quantity demand
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given an mpc of .8 if the equilibrium level of aggregate expenditure is 80 billion and there is a reduction in
Require a lot of calculations in STATA
Advertising can inform buyers, but sellers must incur costs to advertise. If so, advertising can result in higher prices to consumers. Does this mean advertising is economically inefficient If so explain how it can simultaneously create value and ..
when producing 10 units jean has total variable costs of 400 total fixed costs of 550 and assets of 3000. assume you
discuss how the distribution of income among various groups of income earners have changed in this country during the
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