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Question: In October 2001, Barry Bonds of the San Francisco Giants hit his record-setting 700th home run. After fan Alex Popov caught the ball, another fan, Patrick Hayashi, bumped him and grabbed the ball when he dropped it. The ball ultimately sold for $450,000 and Popov and Hayashi went to court, where they were ordered to split the money. If you were interested in efficiency, how would you decide the case? Why, if at all, would your exact decision matter?
Find the market demand schedule for labor and the equilibrium wage rate - How much labor should the firm hire to maximize its total profits?
A standard roulette wheel has an array of numbered compartments referred to as "pockets." The pockets are red, black, or green. The numbers 1 through 36 are evenly split between red and black, while 0 and 00 are green pockets. For every $1 that on..
maria lives 2 periods. in period 1 she is a student in philosophy. her income is 0 and she does not pay taxes. in
In 2012, Hurricane Sandy caused massive destruction to the northeast United States. Tens of thousands of people lost their homes and possessions.
Draw the graph for a monopoly with demand, marginal revenue, and marginal cost curves. Identify the profit-maximizing output level (Qm) and price (Pm).
1. consider two countries a and b. labour is the only factor of production for goods x and y.consider the following
Illustrate in the form of diagrams, the effects, various changes have on demand and supply of a particular good or service and explain briefly your diagrams.
Draw the supply and demand diagrams with and without international trade? What is the market clearing price and quantity if international firms can sell in the U.S.? What about if international firms are prevented from selling in the U.S.?
what is the elasticity of substitution? if the production is Q= L ^1/2 K ^1/2. What is the total cost function ? What is marginal cost? What is average cost?
Gadgets for Sale or Not How come the prices of some gadgets, like the iPod, are the same no matter where you shop? No, the answer isn't that Apple.
Explain how each of the events described above, affected the world market for oil. Specifically, use a supply and demand diagram to explain changes in price and output.
Give a hypothetical/real world example of the MR=MC principle (Profit maximizing point). Explain what elements in example represents decreasing marginal revenue/benefit and what element represents increasing marginal cost.
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