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Travelers driving through Gotham city can use a freeway or cross town toll way to get thru the city. The toll way charges $1.00 per car during the morning rush (6-9AM) and the afternoon rush (4-7PM) and the toll is $0.40 at other times. The weekly demand for using the toll rush hour is Q1 = 800-200P1 where the quantity demanded is measured in thousands of cars, and the weekly demand for non rush hour period is Q2 = 2000 -1000P2. Gothams marginal cost of operating the toll way is MC = 0.02 +0.001Q per car.
A. What are the marginal revenue curves associated with the two demand curves?
B. Has the city set the profit maximizing tolls for the crossway toll way? If not .do the current tolls generate too much or too little traffic on the toll way?
Suppose the market for gelato is perfectly competitive, and that gelato is a constant cost industry. The long-run cost function for producing gelato is TC(Q) = Q^3 ? 2Q^2 + 5Q. The demand for gelato is Q = 300 - 2p
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Suppose you have the choice of investing in (A) a zero-coupon bond, which costs $500 today, pays no coupon during its life, compounds semi-annually, and then pays $1,000 after 10 years, or (B) a bond which costs $750 today, pays $25 in interest semi ..
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Home (H) and Foreign (F) produce autos and shirts using capital (K) and labor (L). Autos are capital intensive relative to shirts. Draw a PPF-Budget Constraint-Indifference Curve diagram for each country that shows the autarky (no-trade) equilibrium,..
A decrease in the government's budget deficit ______ the real interest rate and ______the equilibrium quantity of national saving.
Based on your knowledge of the Commerce Clause, what would happen if a business or individual sued Oregon over Measure 91, arguing that they were injured because their employees are now arriving to work “intoxicated” on legal marijuana?
Does a lump sum tax cause the after tax consumption schedule to be flatter than the before tax consumption schedule.
Compute the equilibrium price and annual quantity of antidepressants. Compute 1)producer surplus; and 2)consumer surplus in this competitive equilibrium.
Suppose regression of y on x with a sample of size 37 yields 2 R = 0.4. What is the correlation coefficient between y and x?
Illustrate what would happens to the equilibrium price and quantity. The widget firm in Springfield is competitive,with numerous buyers and sellers.
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