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In the town of Waselville it is currently illegal to sell marijuana. However, "Ducky" has been providing product in the town for years. He is effectively immune to any prosecution (mostly because the city council, the police chief, and local judge are all his customers). Ducky faces the following INVERSE demand function:
P=1000-sQ
Where P is the price, and Q is the quantity sold. Ducky has two costs: he pays $200 a unit for his product and a fixed cost of $1000 for a protection fee to a Canadian mobster.
Starting the profit equation or the condition that determines the quantity for a firm, what is the quantity that "Ducky" provides to the town?
Which of the following examples are used as evidence favoring the bounded rationality ?assumption?
Also describe possible digital evidence storage formats (raw, E01 (ewf), and AFF), the advantages and disadvantages of each.
Proper hygiene such as regular hand washing can greatly limit the spread of many diseases. How may this suggest a role for public interventions? What kinds of interventions may be possible? Suggest three distinct types of possible Intervention.
Which of the following are true of capital as a determinant of economic growth? Check all that apply.
If interest rates or opportunity costs of investments, happened to be the same in both developed countries and emerging-economy nations, what could account for faster upward shifts in the latter group’s planned investment functions? Are stocks of pro..
Show, using an AS-AD graph, how government can use accommodating monetary or fiscal policy to return output and unemployment to their long-run values.
The Hartnett Corporation manufactures baseball bats with Pudge Rodriguez’s autograph stamped on them. Each bat sells for $55 and has a variable cost of $29. There are $40,820 in fixed costs involved in the production process. Compute the break-even p..
Survey collects data from subjects who respond to a series of questions about behaviors and opinions. Should survey format allow individuals a level of anonymity? Why or why not?
The inverse demand function of a group of consumers for a given type of widgets is given by the following expression: π = −10q + 2000[$] where q is the demand and π is the unit price for this product. Determine the maximum consumption of these consum..
There are two alternative projects to be chosen: project A has a first cost of $110,000 and an annual operating cost of $60,000. Project B has a first cost of $175,000 and an annual operating cost of $35,000. If the company uses a 3-year recovery per..
The normal supply and demand models take the supply and demand of a particular good and show that the equilibrium price is where the two curves intersect. At this point, all the people below the equilibrium point value the good as worth less than the..
Higher risk-averseness will: a) increase the demand for health insurance b) reduce the demand for health insurance c) have no impact on health insurance demand
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