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Mario and Claudia deposit $360 into their joint account at the end of each quarter. If their account earns 5%/year/month (5% per year compounded monthly), How many quarters will it take them to have a total of $17,000 in their savings account?
Casey’s Sprocket, Inc.’s short-run cost curve is C= ((25q^2)/K) +15K where q is the number of sprockets produced and K is the number of robot hours Casey hires. Currently, Casey hires 10 robot hours. If the market price for a sprocket is $250, what i..
Under a strict command-and-control framework, suppose abatement standards are set equally across polluters. Assume the total abatement target is 30 units. Show the cost implications using three graphs, each of a different polluter with a unique MAC c..
The total costs of a firm operating in perfectly competitive markets are described by the function C(y) = y^2 + 40y + 250, where y denotes the quantity (units) of output Y produced by the firm.
Do you think free agency increases competitive balance? Why or why not? Explain using economic concepts.
EC0100 - Summarize the different types of market structures and the role of government in economics.
You have $1,000, which you can invest in a risk-free investment, earning 2% with certainty. Alternatively, you can invest in a project that has a 30% chance of losing $500, and a 70% chance of gaining $400. What is your expected wealth with each inve..
The world has gone through several different international financial orders over past 100 years. Explain how each one came into being and why the order eventually ran into difficulties and was suspended by another order.
The market demand equation for pizza is Qd=75-2P+0.5*Psubs+0.1*WAGE. Rewrite the demand equation to show that pizzas are a normal good for wages up to $10, but inferior for all wages higher than $10 while keep P and Psubs coefficients remain the same..
Analyze gasoline price hike statistics in the following scenario. In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. Calculate the price elasticity of gasoline. Calculate the price elasticity of demand for gasoline. Calculate the ..
The law of diminishing marginal utility states that:
Assume that the price of x is $2 and the price of y is $1 and Brian has an income of $10. How much does he consume of each good? Assume Brian's income increases to 20$, calculate his demand for each good and explain whether Brian considers x and y to..
Operations manager estimates assembly time required for first two units to be 10.4 hours and 8.3 hours, respectively. What is appropriate learning curve.
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