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Q. The market demand and supply functions for pork are: QD = 2,000 - 500P and QS = 800 + 100P. To help pork manufacturer, the U.S. Congress is allowing for legislation that would put a price floor at $2.25 per unit. If this price floor is implemented, how many units of pork will the government are forced to buy to keep the price at $2.25? In total how much will the government spend? Illustrate how much does producer surplus increase? How much does consumer surplus decrease? And how much is the deadweight loss? Draw a diagram and show the initial equilibrium, new price and quantity with the price floor and identify the area of deadweight loss in the diagram.
Identify Nick’s utility-maximizing consumption bundle on your graph, including his indifference curve that is associated with his optimal bundle. e. What is the value of his utility at this bundle?
In recent yrs, persons also state governments have sued various tobacco companies to compensate for illness also injury allegedly cause d by cigarette smoking.
The cost curves of the firm. In terms of economies of scale, why would a firm sometimes want to expand output and sometimes not want to expand output.
how fiscal policy can ‘stabilize' economy. What about government borrowing and public debt.
if customers also purchased French fries and a soft drink, Wall Street Journal reported that company was hoping novel promotion would revive its US sales growth. illustrate what do you think disrupted McDonald's plans.
What is social responsibility? How important it is toa customer and an employee?
Should a company hire temporary workers or hire new workers to handle increase demand for the company's product.
Assume Caesar allocates his entire budget to the purchase of chips as well as soft drinks.
Compute the unemploymet rate and the labor forceparticipation rate,and compare thse raes wth those in the United States in 2009.
Kathleen likes avocado also crab dip. After eating avocado also crab dip with four crackers, she switches to cheese with crackers.
One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move.
The marketplace demand for a type of carpet produced by a monopolist known as KP-7 has been estimated
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