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Consider a city that has a number of hot dog stands operating throughout the downtown area. Suppose that each vendor has a marginal cost of $1.50 per hot dog sold and no fixed cost. Suppose the maximum number of hot dogs that any one vendor can sell is 100 per day. a. If the price of a hot dog is $2, how may hot dogs does each vendor want to sell? b. If the industry is perfectly competitive, will the price remain at $2 for a hot dog? If not, what will the price be? c. If each vendor sells exactly 100 hot dogs a day and the demand for hot dogs from vendors in the city is Q = 4400 - 1200P, how many vendors are there? d. Suppose the city decides to regulate hot dog vendors by issuing permits. If the city issues only 20 permits and if each vendor continues to sell 100 hot dogs a day, what price will a hot dog sell for? e. Suppose the city decides to sell the permits. What is the highest price a vendor would pay for a permit?
The traditional concept of sovereignty means that states
The monopolist is currently charging a high price, and you have calculated that you can make a nice profit charging 10% less than the monopolist. Before you go ahead and challenge the monopolist, what possibility should you consider for how the monop..
The amount of coffee that the machine provides when a purchase is made approximately follows a uniform distribution between 200 and 250 ml.
Given: CPI in 2006 = 160.0; CPI in 2007 = 170.5; CPI in 2008 = 172.4; CPI in 2009 = 168.2.l Compute the inflation rate in 2007, in 2008, and in 2009. Based on the given data and your computations above, in which year did disinflation occur?
Mrs. Smith is earning a loss and should shut down in the short run. Mrs. Smith is earning a loss but should continue to operate in the short run. Mrs. Smith is earning a profit since the price is above the average variable cost.
Keeping in mind our discussion of final cause and Aristotle, what are the three primary ethical issues involved in globalization?
Assess the importance of policy analysis during the development and implementation stages of public policy. Discuss the social impact of policies. Discuss the limitations policies have on government power.
q1. predict what would happen to the equilibrium price of marijuana if it were legalized. use demand amp supply
If the government uses a tax to get producers to internalize their externality, what is the net price received by producers.
One reason for raising interest rates was the prospect of a refinancing issue: a $12 billion issue matures April 1, and the government is expected to seek some new money, in excess of its refinancing needs.
q1. explain the essential distinctions among the stages-of-growth theory of development the structural change models of
Suppose that the external damage is MD = 300 + 5Q; MC = 100 + 2Q; MB = D – 2Q where D is unknown. (a) If D = 1000, what would be the optimal quantity? What tax would be necessary on order for that to be the optimal quantity?
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