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1) What is price elasticity? How does Moore's Law relate to this concept? What is sepcial about falling chip price?
2) What is the advantage of using grid computing to simulate an automobile crash test as opposed to actually stag?
Illustrate what is the amount of the producer surplus for Juan Carlos combined.
Suppose that in the market for comic book illustrators the substitution effect dominates the income effect While visiting Comic Con.
Using the library or the Internet, find some recent projections for the future path of the U.S. govt. debt as a percentage of GDP. What assumptions are made about (i) govt. spending, (ii) taxes, and (iii) economic growth?
A price-discriminating monopolist of the 3 rd degree sells output in 3 different markets. Some, but not all pairs on the 3 linear market demand curves are given below.
Rise in customers income will make increase in the quantity demanded.
Calculate the payback period for an asset that has a first cost of $40,000, a salvage value of $8000 anytime within ten-years of its purchase, and generates income of $6000 per year.
In 2005 the US was close to full employment, but many observers and economists were worried about its trade deficit, which was over $700 billion per year. Suppose macroeconomic policymakers wanted to maintain the level of real GDP
Assume that the payouts of the game were changed (if necessary) such that it results in gamblers having a positive expected value.
Suppose you are advising a small country (such as Bermide) on whether to print its own money or to use the money of its larger neigher (such as the United States). What the costs and benefits of a national money.
suppose that a natural monopolist was required by law to charge average total cost. on a diagram label the price charged and the deadweight loss to society relative to marginal cost pricing. Hint: ensure you consider the characteristics of natural ..
There are 10 identical firms that have the common cost function c(y) = y 2 + 9. The industry demand function is given by X (P) = 200/
Explain what each of these economic indicators measures and what the significance of the current data is for the economy and increases in resources or improvements in technology will tend to cause a society's production possibilities curve
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