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Assume that the relationship between the growth of a fish population and the population size can be expressed as g = 2P – 0.1P, where g is the growth in tons and P is the size of the population (in thousands of tons). Given a price of $50 ton, the marginal benefit of smaller population sizes can be computed as 10P – 200. (a) Compute the population size that is compatible with the maximum sustainable yield. What would be the size of the annual catch if the population were to be sustained at this level? (b) If the marginal cost of additional catches (expressed in terms of the population size) is MC = 2(80 – P), what is the population size that is compatible with the efficient sustainable yard?
Give two reasons for (20 points) and two reasons against backing a currency with gold. Then develop your position either for or against backing the US currency with gold and substantiate your assertions.
What is elasticity of demand and how is the notion utilized in economics? Please explain and elaborate.
Give at least three reasons and examples when addressing this question, using your text, the Online Library, and the Internet as resources. Identify an event that would shift the AD curve and which direction the AD curve will shift.
describe and crtically comment on the various forms of european union law how such forms of eu law are implemented
if there are any additional issues you think are relevant to the choice of closing time be sure to mention them. is
A. How would this impact policymakers' ability to use policy B. What would Congress be forced to do during a recession What is the mostly likely impact of the policy
To successfully practice price discrimination
Presume the government decides to increase taxes by $20 billion to increase Social Security benefits by the same amount. How will this combined tax transfer policy affect aggregate demand at current prices?
Suppose that the president proposes a new law aimed at reducing heath care costs: All Americans are to be required to eat one apple daily.
Which of the following is emphasized by supply-side economics?
Explain the difference between nominal and real GDP, andprovide a numerical example with your own numbers of how nominalGDP can be converted to real GDP.
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