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Imports and Market Supply. Two nations supply sugar to the world market. Lowland has a minimum supply price of 10 cents per pound, while Highland has a minimum supply price of 24 cents per pound. For each nation, the slope of the supply curve is 1 cent per million pounds.
a. Draw the individual supply curves and the market supply curve. At what price and quantity is the supply curve kinked?
b. The market quantity supplied at a price of 15 cents is million pounds. The market quantity supplied at a price of 30 cents is million pounds.
Projected government revenues from blood sucking income andconsumption taxes, not to mention pick-your-pocket duties andexcise tases is $243 billion for 2008-2009 fiscal year.
Assume that the reserve requirements is 5 percent. All other things equal, will the money supply expand more if the Federal Reserve buys $2,000 worth of bonds or if someone deposits in a bank $2,000 that he had been hiding
On page 170 A firm's product sells for $per unit in a highly competitive market. The firm produces output using capital (which it rents at $75 per hour) and labor (which is paid a wage of $15 per hour under a contract for 20 hours of labor service..
By how much would the demand curve have to shift upward in order that the socially optimal quantity is realized?
Suppose the government in this economy decides to increase government purchases by $250 billion. The increase in government purchases will lead to an income, generating an increase in consumption that increases income yet again, and so on.
You are buying a new car for $20,000. You put $2000 down and are financing the balance. You signed a contract for the loan for 4 years. Your loan has an interest rate of 8% interest (APR). You make monthly payments and the interest is compounded m..
Is there market or government failure (regulation that is hurting rather than helping)? Note, anytime an industry is not a perfectly competitive market, there may be elements of market failure.
Despite very low growth of GDP in 2008 and 2009, and still high unemployment rate of 9.5 percent in June 2010.
Suppose you are a monopolist able to produce your chosen output at a constant average (and thus marginal) cost of ATC = MC = $5. You face a market demand curve given by Q = 53 - P or inverse demand given by P = 53 - Q, where Q is the output provid..
You can either spend spring break working at home in Alabama for $200 a day for five days, or you can spend the week in Costa Rica where travel expenses will total $700 (food, hotel, and a plane ticket.)
Bella can produce either a combination of 60 silk roses and 80 silk leaves or a combination of 70 silk roses and 55 silk leaves. If she now produces 60 silk rose 80 silk leaves, what is the opportunity cost of producing additional 10 silk roses
In a Good job, a qualified worker produces 100 units and an unqualified worker produces 0. There is enough demand for workers for each type of job; companies must pay what they expect the appointee to produce.
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