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Question
A soil sample has an initial and dry weight of 30.5 g and 27.9 g, respectively. The weight is reduced to 7.9 g after combustion in a furnace at 600 degree C for 6 hours. Determine the soil organic matter in weight percentage.
Assume that the demand curve and marginal revenue curve are the typical downward-sloping straight lines. The monopoly deadweight loss equals $4,000.
Can the market in which this firm operates be in a long-run equilibrium? Briefly explain.
Why might we not expect free trade to affect the general unemployment level in the economy, but it will affect some more than others?
The price of gasoline is $2.50 per gallon at the closest gas station, but is only $2.30 per gallon at a gas station two miles away. By driving to the farther gas station, opportunity cost is:
Discuss the effects of a tightening monetary policy in the short-run and the long-run? What are the key assumptions in both scenarios? What are the appropriate models to distinguish the short run and long-run effects of a tightened monetary policy? W..
For retirement, you decide to deposit $1329 at the end of each year and you will increase your deposit by $105 per year. How much will you have at the end of 20 years if the bank pays 2.5% compounded annually?
Assume the chances of winning at trial are 100%, but the cost of a lawyer is $5,000. Analyze the situation in terms of efficiency, incentives, and outcomes.
Suppose we now care about the long run decisions of a firm that has a production function of the form q = 2L + 3K. Draw the isoquant that represents 20 units of output. If the price of each unit of labor is 1, the price of each unit of capital is 2 a..
Explain the difference between real exchange rate and nominal exchange rate. What determines the real exchange rate and the nominal exchange rate in an economy?
Compare an owner's personal liability for debts of a business organized as a sole proprietorship, general partnership, limited partnership, LLP, LLC, and S corporation.
Wooldridge Problem 4.6 In section 4.5, we used as an example testing the rationality of assessments of housing prices. There, we used a log-log model in price and assess [see equation (4.47)]. Here, we use a level-level formulation. i. In the simple ..
Suppose that a new restaurant entry increased consumer elasticity of demand for the sushi appetizer from 2 to 3. The Price you charge initially is $10. By how d
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