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Suppose incomes increase in the economy, and the number of sellers of logo shirts also increase. What will happen to equilibrium price and quantity of logo shirts?
Suppose that the city of Cool currently levies a property tax for public safety at a rate of one percent of taxable value on a base of $10 million of taxable property. If the price elasticity of demand for public safety in Cool is -0.2, calculate and..
Suppose a firm doubles its output in the long run. At the same time the average cost of production remains unchanged. We can conclude that the firm is A) exploiting the economies of scale available to it. B) facing constant returns to scale. C) facin..
Consider the case of a monopsonist who is the only... Consider the case of a monopsonist who is the only employer in an isolated town in West Virginia. There are 100 individuals who live in the town, and each has a utility function given by u(l,c) = ..
q1. what are the marginal income tax rates and levels paid for different income levels? how much income gets you into
During the Great Depression, business people in the United States were very pessimistic about the future of economic growth and reluctant to increase investment spending even when interest rates fell. How did this limit the potential for monetary pol..
An engineering student will graduate this year with a BS degree at the age of 26. He expects to make $ 60,000/ year for the rest of his career. Enroll in a master’s degree program and pay full tuition at $ 40,000 and graduate in one year. Make a deci..
Suppose that, for the population of all entering freshmen, the distribution of the number of correct answers would be normal with a variance of 250. what is the probability that sample variance would be less than 100?
Although the web has brought many changes to the delivery of customer service some are good changes but not all are. What are the advantages and disadvantages of a web based customer service approach?
What populations have performed the bulk of the agricultural labor in the U.S. since the beginning of the 19th century? Do you think getting paid for "piece work" (e.g., paid per unit picked) rather than an hourly wage is a fair and equitable system ..
Indian GDP in 2010 was 78.9 trillion rupees, while U.S. GDP was $14.5 trillion. The exchange rate in 2010 was 45.7 rupees per dollar. India turns out to have lower prices than the United States (this is true more generally for poor countries): What i..
Suppose a uniform price monopolist is choosing a price along a linear demand curve. If at thecurrent output the value of the Elasticity of Demand is -1.1 and Marginal Cost is constant at$10, what is the price the monopolist will choose and what is..
A firm uses steel and aluminum to produce auto parts. The current input mix used by the firm is such that the marginal product of aluminum is equal to 800 units, while the marginal product of steel is equal to 500 units. Please explain in words what ..
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