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Solar and wind or water power energies are the substitutes to fossil fuels (e.g. petroleum). In the 21st century, with environmental concerns, the environmental advocates emphasize the consumption of ‘clean’ energy to save our planet. In the assumption that solar/wind/water energies are in their efficient production which leads to an affordable market price, what would such result impact the equilibrium condition (e.g. equilibrium price vs. quantity) of the world petroleum market?
The increased demand for corn to be used in ethanol is driven in large part by nearly $10 billion in government subsidies. who gains and who loses as a result of these subsidies?
Suppose that all young women were channeled into careers as secretaries, nurses, and teachers. At the same time, young men were encouraged to consider these three careers and many others as well. Using graphs, show the combined labor market for secre..
In the short run, a monopolistically competitive firm is
Time to failure distribution of a computer memory chip follows Normal Distribution with mean 9000 hours and standard deviation 2000 hours. Find the reliability of this chip for a mission of 8000 hours?
Consider again an economy with the usual required reserve ratio (rr); economy-wide checking (demand deposits) of $400,000; total cash within banks of $100,000; cash held by the public of $36,000; and er = 0.16. Calculate the "real-world" multiplier.
Considers a monopolist with the following demand curve: P=1000-10Q. The monopolist faces MC=AC=100. Solve for the profit-maximizing level of monopoly output, price, and profits. Suppose a potential entrant is considering entering, but the monopolist ..
Suppose that a producer raises the price of a good from $8 to $15, and the quantity sold drops from 250 to 40 units. Is the demand for the good is elastic or inelastic?
The Teenager Company makes and sells skateboards at an average price of $70 each. During the past year, they sold 4,000 of these skateboards. The company believes that the price elasticity for this product is about -2.5. What was total revenue for th..
comment on the following statement from a newspaper article our junior high school serves a splendid hot meal for 1
Examine two (2) arguments one for and one against raising the minimum wage, and discuss your findings. In view of the weak economy of the last several years, explain which of the four components of GDP had, or is having, the greatest positive impact ..
Create a new product that would appeal to your market. Develop at least one question for each characteristic of the target market (demographic, geographic, psychographic, and behavioral) that will be important for you as you determine the marketing s..
ABC Firm in Industry Alpha has MC of production = $100 and they know from past experience that their Lerner index is 0.3. XYZ firm in Industry Beta has MC of production = $35 and Lerner index is 0.55. Determine optimal price both firms should be char..
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