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Question
Draw the supply and demand for opera performances, with a supply curve that is sufficiently small to provide a high price. Show how a subsidy could increase the quantity produced by opera houses. Then show the impact of a price ceiling in the market.
What is the difference between ordinal utility and cardinal utility? Explain why the assumption of cardinal utility is not needed in order to rank consumer choices.
With a quota of 40 tonnes a month for the tuna fishing industry, what is the equilibrium price of tuna and the quantity of tuna that fishers catch?
A mixture of methane CH4 and ethane C2H6 is stored in a container at 294 mmHg. The gases are burned in air to form CO2 and H2O.
Why is per capita GDP so much higher in the United States than in Mexico?
from the scenario assuming katrinas candies is operating in the monopolistically competitive market structure and faces
1. the profitability of the leading cola syrup manufacturers pepsico and coca-colaand of the bottlers in the cola
Chicago Board of Trade (CBOT, and now part of CME group) Wheat Future contracts are for minimum 5000 bushels with exercise (future, contract).
how do you define social diversity and business ethics? how has a more diversified labor force affected the corporate
(i) What is Mia's expected utility? What is the expected value and the variance of her income? (ii) What is Mia's risk premium? (iii) Suppose that Mia; is offered an insurance policy at the rate p=0.25 How much of insurance would Mia buy?
First write down the assumptions and state the utility maximization problem for a single-member household that is agriculturally productive but has no access to labor markets.
More generally, why does the government need to offer student loans? Why not leave it up to the private sector to provide loans to students
describe the circumstances under which a firm chooses a low-cost strategy to attain sustainable competitive advantage.
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