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In a small town, the market price for a day worth of yard work is $85. If Artie would be willing to do the work for as little as $75, Belinda would do it for as little as $78, Corazon would do so for as little as $81, and Darius would only do yard work for $88, what is the producer surplus for this group of workers on a given day when everyone who wants to work does so? Explain how the number was obtained.
In the past manufactures dominates the supply chain, but now the supply chain is dominated by large retailers. Give two reasons why this is the case while referring to "Power".
Hotelling’s Model (10pts) Consider the Hotelling’s model with three players, each chooses a policy position on the real line. Is all three players choosing xm (the ideal policy of the median voter) a Nash equilibrium? Explain your answer.
If economy has full flexible prices and demand unexpectedly increases you would expect that the economy’s real GDP would tend to Increase, Decrease. Remain the same? What happens when demand fluctuates lower than expected? What happens when demand fl..
Identify a way for local and state governments to both stimulate their economies while being respectful of the environment. (hydrofracking)
An example of a metric from the financial component of the balanced scorecard: An example of a metric from the customer component of the balanced scorecard: An example of a metric from the process component of the balanced scorecard:
Explain the relationship between the price elasticity of demand and total revenue. What are the impacts of various forms of elasticities (elastic, inelastic, unit elastic, etc.) on business decisions and strategies to maximize profit? Is the price el..
How many of the following four business cycle facts can be explained if the primary cause of business cycles is temporary changes in total factor productivity: procyclical consumption, procyclical investment, procyclical employment, and procyclical r..
A firm produces output using two factors of production according to technology f(x1, x2) = X1^1/2*X2^1/4. The price of output is 4. Factors 1 and 2 cost to the firm w1 and w2 per unit, respectively. Write an expression for the firm’s profit.
If a monopolist is producing the quantity at which price equals marginal cost, it should. Three friends are considering whether to attend a match or staying at their respective homes. Each of the three would prefers to attend the match if the other t..
What is a recent trend in the macroeconomic indicator or policy in the Health Care industry. What illustrates the observed trend.
Archibald's Tattoos is a perfect competition firm. The firm's costs are shown in the table above. If the market price for a tattoo
An economy begins in long-run equilibrium, and then a change in government regulations allows banks to start paying interest on checking accounts. How does this change affect the demand for money? What happens to the velocity of money?
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