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A recent newspaper circular advertised the following special on tires: Buy three, get the fourth tire for free-limit one free tire per customer. If a consumer has $500 to spend on tires and other goods and each tire usually sells for $50 how does this deal impact the consumers opportunity set?
The average 15-year old purchases 12 CDs and 15 cheese pizzas in the typical year. If cheese pizzas are inferior goods, would the average 15-year old be indifferent between receiving the $30 gift certificate at local music store and $30 in cash?
Determine GDP,NDP,GNP,NNP,NI,PI,DI,S. Comment on savings magnitude that you have determined.
Determine the price elasticity, and income elasticity of demand and where Q denotes passengers in thousands per year, P the (average) ticket price, and I US national income.
In a complex assembly operation, it is found that the learning curve rate is 70%. The standard time of 3 minutes per assembly is reached after the 110th unit. Find i. The time required for the very first unit.
Which of the following methods is used by unions to increase the demand for the labor of its members? what is an agreement between a manufacturer and a distributor on the price at which a product will be resold.
For each of the following utility functions, draw the three indierence curves that correspond to the three stated utility levels, labeling each curve with the corresponding utility level. Label any intercepts or inks in the line to fully identify ..
Canadian firms that buy machinery and equipment from US suppliers c.cross border shoppers from Canada who shop for goods in the US retired Canadians who live in Arizona and Florida during the winter months
If the appropriate interest rate is 13 percent, what kind of deal did the player snag?
What is the first order condition for profit maximization for firm 1? compute the optimum quantity x1 for firm 1 as function of quantities x2 and x3.
A firm that emerges as the only seller in an industry with economies of scale is a(n): The profit maximizing rule MR = MC applies to: Suppose that the total cost curve for a firm is given by the equation TC = a + bQ, where 'a' and 'b' are positive nu..
This innovation could save farmers $1 billion a year in crops now lost to frost damage. If this technology becomes widely used, what will happen to the equilibrium price and quantity in, for example, the potato market?
From what you know about these firms' cost structures, what is the highest possible price per unit that could exist as the market price in long-run equilibrium?
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