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Illustrate what is the largest total surplus of all transactions that can be accomplished? Person Maximum Price Willing to Pay Person Minimum Acceptable Price Bob $14 Carlos $3 Barb 12 Courtney 4 Bill 11 Chuck 5 Bart 10 Cindy 6 Brent 9 Craig 7 Betty 8 Chad 8 Instructions: Enter a whole number as your answer. What is the total surplus if Bob buys a unit from Carlos? Instructions: Enter a whole number as your answer. What is the total surplus if Barb buys a unit from Courtney? Instructions: Enter a whole number as your answer. What is the total surplus if Bob buys a unit from Chad? Instructions: Enter a whole number as your answer, if you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions?
Show that a specific tax of $3.70/unit generates the same revenue as a 20% ad valorem tax
Distinguish between the two types but knows the probabilities of each type. What would be the result in this market for loans.
What point on the graph is most likely to result from the introduction of technological improvements in bicycle assembly, and successful publicity campaigns by the government on the virtues of bicycling to work.
Coupled with $160 annual tax rebate per household. Will the household be better or worse off under the new program.
The electric power industry is held up in the article as an example of a natural monopoly. Brainstorm other examples that can be readily identified in the present market economy.
The two firms have the same demand curve P=100-4Q, Marginal cost of Firm 1 is 5 and for firm 2 is 10.
A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. According to these numbers, what did the hospital cost approximately.
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
What is the equation for the AS curve. What restrictions on the parameters do we need to ensure that AS curve has a positive and nite slope.
Where there currently is a tariff. What is the effect of this tariff on the U.S. economy.
Federal Reserve lowers the required reserve ratio from 0.10 to 0.05. How does this affect the simple money multiplier.
If the foreign country enters the market first, determine the equilibrium price and quantity. Will both countries produce. Show both average cost curves and the equilibrium.
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