A group of enterprising engineering students has developed a process for extracting combustible methane gas from cow manure (don't worry the exhaust is odorless). With a specially adapted internal combustion engine, the students claim that an auto..
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An estimate of the demand function for household furniture produced the following result F= 0.0036Y1.08R0.16P-0.48 p=0.996 where F= furniture expenditures per household. Y= disposable personal income per household.
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A Whoey option pays the difference between the final price and the maximum price of a stock over the period of the option. For example, if the price of a stock is 200, 220, and 234 in the previous periods (here periods 0, 1, and 2), the maximum pr..
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Sydney is interested in starting a new business, but would have to give up a job with a total compensation of $100,000 per year. After researching the new business opportunity, Sydney developed the following estimates. Annual Revenues: $300,000
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Suppose the hourly wage is $10 and the price of each unit of capital is $25. The price of output is constant at $50 per unit. The production function is F(L,K)=L^1/2*K^1/2 If the current capital stock is fixed at 1,600 units, how much labor should..
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If the velocity of circulation is constant, real GDP is growing at 3 percent a year, the real interest rate is 2 percent a year, and the nominal interest rate is 7 percent a year, calculate the inflation rate, the growth rate of money, and the gro..
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In solving the problem,when your taxable income lies exactly on the border of the 22% bracket ( so that adding one dollar takes it to the beginning of the net bracket), choose the next bracket i.e. 26% as the marginal rate for your federal tax, t..
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The car dealership allows her to defer payments for 12 months, and Kris makes 36 end-of-month payments thereafter. If the original note (loan) is for $24,000 and interest is 12% per month on the unpaid balance, how much will Kris/ payments be
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Suppose the own rice elasticity of demand for good X is -2, its income elasticity is 3, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is -6. Determine how much the consumption of this good will cha..
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Hook, Inc., is an international manufacturer of bulk antibiotics for the animal feed market. Dr. Mike Jones, head of marketing and research, seeks your advice on an appropriate pricing strategy for Pharmed Caplets, an antibiotic for sale to the ve..
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Assume you are an analyst assessing national costs of mercury abatement. Your staff has estimated the marginal social costs to be MSC = 0.8Q and the marginal abatement cost across polluters to be MPC = 0.65Q, where Q is measured in percent abateme..
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With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B.
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