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A population of 1000 is hoping to sell their used cars. The value of a car V, ranges from $0 and $3000. The distribution of car values is such that the number of used cars worth less than $V is V/3. The value of a car to a buyer is the car's expected value. An owner can have the car inspected for $300 which will allow the car to sell at the true value.
Note: for part a ignore the market price for the used car and instead find the customer's willingness to pay for the car
Describe the conditions under which revenue will rise and explain the process of revenue at NSU.
Suppose the government were to change it's income assistance program from a welfare system with a basic benefit of B and a 100% clawback rate to a negative income tax program with the same basic benefit B and a 60% clawback rate.
The table below shows the total cost and marginal cost for Baker Street, At the market price of $4.00 per apple pie, how many apple pies should Baker make
Explain how you could use the standard tools of expansionary monetary policy and expansionary fiscal policy to stimulate this economy towards economic growth.
The typical way that authors get paid for writing a book is via a royalty arrangement. For every book sold, the author gets a certain percentage, something like 15 percent of the list price on hardcover sales and 10 percent for paperback. The author ..
(Pitfalls of Economic Analysis) Review the discussion of pit- falls in economic thinking in this chapter.Then identify the fallacy or mistake in thinking in each of the following statements: Raising taxes will always increase government..
To what extent could a registered charity such as the RSPCA be regarded as an enterprise? Who carries out the functions of the entrepreneur.
1. a do protectionist policies benefit producers consumers workers or the government? explain.b explain how the buy
Suppose that the firm's production function is given by Q = 10KL1/3. The firm's capital is fixed at K. What amount of labor will the firm hire to solve its short-run cost-minimization problem?
India and China have roughly the same size population, and although per capita GDP in China is probably somewhat larger, the difference is not very great.
It sells for $10,000 (with helium) and will produce 4 kilowatts of electricity at its ground station. If the cost of electricity is $0.08 per kilowatt-hour, how many months must a purchaser use the system at full capacity to recover the initial in..
What is the company's cash conversion cycle? You should show your work! Please note that there is a typo in the textbook. The correct formual is CCC = DSI + DSO - DPO.
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