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A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 80 – .5P, and the marginal cost of production is $100. a. Determine the optimal number of units to put in a package. b.How much should the firm charge for this package?
List the four principles of effective intervention in criminal justice in sequential order. What do principles mean and do they work? If so why or why not.
The law of comparative advantage recommends that countries specialize in those products in which they have a comparative advantage, not an absolute advantage.
Cold beer is sold by roving vendors at Safeco Field, home of the Seattle Mariners. The only competition to this service is beer that can be bought at the kiosks around the stadium. Determine the demand curve for beer sold by the vendors, with Q expre..
Average visit per week equal 640 when the copayment is $40 and 360 when the copayment is $60. Calculate the percentage change in visits, percentage change in price, and price elasticity of demand using 640 and $40 as the denominators for percentage c..
Illustrate which of the three cases, if any, do you think that demand has increased more rapidly than supply. Explain your reasoning.
Yearly labor costs of a highway maintenance group are currently $420,000/year. If labor costs increase at a 12% rate and general inflation increases at 9%, determine for each of the next 6 years the labor cost in then-current and constant dollars.
What adverse effects on the domestic economy may follow from (a) a depreciation of the exchange rate and (b) an appreciation of the exchange rate.
If one country has per capita income of $15, 000 and its economic growth rate is 5 percent per year, what will its per capita income be in 10 years? About how many years will it take to catch up to a country where the per capita income is $30, 000 pe..
Identify an economic theory or relationship you could estimate via OLS and describe the hypothesis you would test for that theory or relationship.
Illustrate what is now the effect on gold consumption also mining of an increased utilize of gold as money.
The GDP is $40 billion below its potential value. It is expected that next-period GDP will be $20 billion below potential and that two periods from now it will be back at its potential level. The multiplier for government spending is 2. What is the b..
May be imposed either to raise revenue (revenue tariffs) or to shield domestic producers from foreign competition (protective tariffs).
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