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Suppose it costs $30 for each lobster trap set. Lobsters sell for $15. If X traps are set, the harvest rate of lobsters, L, as a function of the number of traps, is given by: L = 45 X –X2. With no restrictions on the number of traps, and open access to the waters, how many traps will be set? How many lobsters will be harvested? How much profit will be realized from bolstering?
president obama has not yet decided whether he will approve a new pipeline the keystone xl that would carry newly
What is Nancy's lifetime income if she gets no schooling? What is it if she goes toschool for all 60 remaining years of her life? In words, describe the "cost" to Nancy ofchoosing to attend school for 1 additional year.
For each event explain how the event would affect price, supply and demand of the product listed two days before Thanksgiving the market has many unsold turkeys.
An increase in the price of gasoline
look at the two tables below which show respectively the willingness to pay and willingness to accept of buyers and
Draw linear PFF representing the tradeoff between hot dogs and buns with 120 million workers available.
Savings accounts pay very low rates of interest. The average return on the stock market is about 10-12 %, in the long run. Why would anyone put money into a savings account?
define the following termsa. gross domestic product gdpb. realnbspgdpc. national incomed. gdp deflatordescribe how the
A study finds that leaf blowers make too much noise, so the government imposes a $10 tax on the sale of every unit to correct for the social cost of the noise pollution. The tax completely internalizes the externality. Before the corrective tax, Blow..
Mr. Sea Food is considering a price reduction on the lobster soup, which currently sells for the price of $5.00. Mr. Smith, the proprietor, knows the price elasticity for this soup is roughly equal to 2.3 over the range being considered for the pr..
Write an introduction that states the purpose of the document; the name of the fictitious company, its location, and its import strategy; and a summary of the subjects that will be covered in the plan.
Helen’s preferences over CDs (C) and sandwiches (S) are given by U(S, C) = SC +10(S +C), with MUC=S +10 and MUS= C +10. If the price of a CD is $9 and the price of a sandwich is $3, and Helen can spend a combined total of $30 each day on these goods,..
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