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There are two types of consumers of potatoes: 10 are rich and 50 are poor. Every rich consumer has a demand of 0 for a price of $500/ton; and his/her demand decreases by 1 ton each time the price increases by $1/ton. Every poor consumer has a demand of 0 for a price of $280/ton; and his/her demand decreases by 2 tons each time the price increases by $1/ton.
Interpret the differences between the demand of the rich and the demand of the poor.
What is the total market demand for potatoes?
Give the equation of the demand curve Q = D(P)?
How does an active fiscal policy helps or hinder long-run growth in the economy.
Explain why marginal product first rises, then declines, and ultimately becomes negative. What bearing does the law of diminishing returns have on short-run costs? Be specific.
The production possibilities curve is an important model of how much an economy can produce given resources & technology.
UBS does not respond to its competition explain how much of its sales is it going to lose.
Compute the abnormal return of Stock Z if the market price is $13.68, the risk-free rate is 4 percent, the return on the marketplace portfolio is 10 percent.
Explain an organization's staffing practices and selection tools in response to two of following trends:
Currently, the island of Guam does not have a minimum wage need but uses the United States minimum wage as a reference. Give a theoretical justification for why imposition of a $5.15 minimum wage.
Write down an equations for total revenue and marginal revenue.
The economy has seen unemployment rate raise from 6% to 9.5%, the inflation rate decrease from 2.8% to 1.2%, and there has been a 24% decline in consumer spending and a 45% decline in investment spending in the same time period.
Suppose the supply of dollars increase by 600 billion at each exchange rate. Explain if the increase in demand results from a large purchase b the Chinese of a new American-made airplane or a large purchase by Americans of new lower priced Chinese..
Compute producer surplus, how much is the difference between the producer surplus and profit in this case
Illustretae what is the relationship among quality, consumption and demand for health care services.
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