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Assume that a national restaurant firm called BBQ builds 10 new restaurants at a cost of $1 million per restaurant. It outfits each restaurant with an additional $400,000 of equipment and furnishings. What is the amount of economic investment that ha..
Why do some economists worry so much about monopoly – in what ways do they believe that monopoly is inferior to perfect competition? What is it that convinces other economists that monopoly actually isn’t all that much of a problem? (Here are some qu..
There are one hundred jobs and one hundred workers in a competitive job market. All the workers are equally productive. All employers dislike female workers but vary by the degree of their dislike. Job one's employer dislikes females by $100 a week. ..
Assume there is a simultaneous increase in government expenditure also reduction in the funds provide.
Each ton of ore mined from the ABC Mine produces 1 ounce of silver and 1 pound of lead. Marginal costs are $10 per ton of ore mined.
Cournot duopolists face a market demand curve given by P = 120 - Q where Q is total market demand. Each firm can produce output at a constant marginal cost of 30 per unit. Find the equilibrium price and quantity for the total market.
Economic theory unambiguously predicts that total employment will be reduced when an effective minimum wage law is introduced.
Explain why the price elasticity of demand is not the same as the slope of the demand curve. Differentiate between representation and concealment (as they relate to insurance). Explain how price elasticity of demand affects the relationship between p..
Given what you know about the likely effects of climate change, how are people in different countries likely to value efforts to reduce the rate of global warming?
q1. the long heel press produces memo pads in its local shop. the corporation can lease its paraphernalia and hire
Delineate which market participants you believe benefited from the final court decision and whose interests were harmed.
for each bundle that the consumer chooses, show the indifference curve that goes through that bundle. Make sure to label your graph carefully and accurately.
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