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Redo the previous question with the demand curve replaced by P = 26-(2/3)Q
(a) Is this new demand curve more or less elastic than the original at the equilibrium?
(b) What do you note about the relative magnitudes of the DWL and tax revenue estimates here, relative to the previous question?
The football coach at Midwestern university was given a 5 year employment contract that paid $225,000 the first year, and increased 8% uniform rate in each subsequent year. At the end of the first year the alumni demanded that he be fired.
How much economic profit do you expect that Robert's company will make in the first year?
1. One year ago, you bought a bond for $10,000. You received interest of $400 at the end of the year, as well as your $10,000 principal. If the inflation rate over the last year was five percent, calculate the real return.
australian bureau of statistics abs provides retail data for different groups and different states as well as the
A manager can use either way S or B to prepare packages of chiken nuggetes, The firms production is givin as Q= B+S. A- Graph the isoquant corresponding to 4 unites of output. B- What is the marginal product of capital and labor.
Consider a Stackelberg duopoly game of quantity competition. Firm #1 is the "Leader" and firm #2 is the "Follower." Market demand is given by the inverse demand function p=100-4Q.where Q=q1+q2 is the total output of the two firms.
The labor hours required to produce one unit of wheat in the United kingdom 2. The labor of producing one unit of wheat in the United states is 1. What is the opportunity cost of producing a unit of wheat in the United kingdom
A manufacturer of air-conditioning systems expects to sell 10,000 units next year if the economy recovers from the present recession. If the economy remains at its present state, the firm expects to sell 7,000 units, and if the recession worsens.
Suppose the LRAS is positioned at a real GDP of $12 trillion in base year dollars, and the long run equilibrium price level (in index number form) is 115. The corresponding full employment level of nominal GDP must be how much trillion dollars.
When average consumer income increases from $40,000 to $44,000 in Mapleville, the quantity demanded of widgets went from 10 to 9 units per capita, even though the price of widgets and other products did not change.
In a small country, there is a single firm producing good X. The local demand curve is given by P=100-Q. The firm's marginal cost curve is MC=2Q. The world price of good X is Pw=30. a) In free trade, what will be the domestic production of good X.
Do you believe it is proper for businesses such as internet service providers to collect data on their customers shopping behavior and personal profiles Under what situations, if any, is it proper or improper Should all companies collecting custo..
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