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Potatoes cost Janice $1.00 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. If she feels that the fist pound of potatoes is worth $1.50, the second pound is worth $1.14, the third pound is worth $1.05, and all the subsequent pounds are worth $0.30, how many pounds of potatoes will she purchase?
The Federal Reserve was established in 1913 and is, therefore, a “creature of Congress.” The President of the United States nominates members of the Board of Governors of the Federal Reserve, subject to confirmation by the Senate. However, the Federa..
One might expect company in monopolistically competitive market to experience greater swings in price of their products over the business cycle than those in an oligopoly market.
Explain how the marginal principle and the pollution tax work together to determine the optimal amount of pollution abatement.
If an alternative has monthly payments of $10,000 a month for three years with a purchase price of $75,000 at the end of year three, what would the cash flow diagram look like. what would the cash flow diagram look like
Bright Future, Ltd (BF) is a non-profit foundation providing medical treatment to emotionally distressed children. Determine the optimal amount of service provided by BF.
GDP rises from 6 trillion in 2001, base year, to 12 trillion in 2008. the gdp deflator is 180. Find real GDP in 2008. Find the percentage increase in real gdp between 2001 and 2008.
Between your answers to parts b and c, which prices/capacity are best applied from a social welfare perspective? Why?
Has a deadweight loss been created? Why? Does the price ceiling cause economic inefficiency?
Explain how scarcity and choice are related. Economic theory says that a rise in the price of a good will cause people to buy less of it. If the price of meat increases and John Doe buys more meat, has the theory been refused
Suppose the economy is on a balanced growth path in the Romer model, and then, in the year 2030, research productivity rises permanently to z ? > z. a) Solve for the new growth rate of knowledge and yt b) Make a graph of yt over time (on a ratio s..
Elucidate what does the US government hope to achieve through the use of its antitrust policy.
A sharp decrease in housing prices makes people much less wealthy. If the primary effect of this decreased wealth is felt on labor supply, what happens to the level of employment and the real wage rate if the labor supply function is positively relat..
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