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Suppose Henry Potter owns the only well in town that produces clean drinking water. The estimated market demand for clean drinking water in town is Q = 50 - 0.2P. He operates with a total cost function of C = 500 + 10Q.
Should courts play a direct role in evaluating such administrative performances as the funding and operating of a prison system? Of a public school system?
College-logo t-shirts priced at $15 sell at a rate of 25 per week, but when the book store marks them down to $10, it finds that it can sell 50 t-shirts peer week. what is the price elasticity of demand for the logo t-shirts?
How would the effects of international trade on the domestic orange market change in the world price of oranges were above the domestic equilibrium? Draw a graph to help explain your answer.
How might you explain this result theoretically? Could this result obtain if the countries tended to be relatively small? why or why not?
A competitive manufacturer of gadgets has the following production function: Q = 20K - K2 + 30L - 2L2 . The price of gadgets, p = 1; the wage rate, w = 10; the rental price of capital, r = 16. (a) What is the profit-maximizing level of output? (b) At..
1. Say that in 1964 a country had a labor force participation rate of 60% and by 2014 it fell to 50%. Also, assume that over this time labor productivity grew by 2% a year. How much did income per person change?
The banks hold no excess reserves, Illustrate what will happen to the total money supply. How did you reach your answer.
In evaluating projects, LeadTech’s engineers use a rate of 15%. One year ago a robotic-transfer machine was installed at a cost of $38,000. At the time, a 10-year life was estimated, but the machine has had a downtime rate of 28%, which is unacceptab..
Your firm is considering two mutually exclusive investment opportunities, investment A has an expected IRR of 15%/year while investment
a) Establish an equation for Marginal Revenue (MR), Marginal Cost (MC), Total Profit (p) and Marginal Profit (Mp).
Joy's frozen yogurt shops have enjoyed rapid growth in northeastern states in recent years. From the analysis of joy's various outlets, it was found to the Demand curve.
Using the principles of supply and demand, develop a plan to alleviate the shortage of math and science teachers with and this country. Try to use price and non-price determinants as your tools to reach equilibrium. Defend your position using economi..
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