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Price Quantitiy demanded per year Quntity supplied per year$45 4300 30055 2300 70065 1300 130075 800 210085 650 3100
B. To quell outrage over tuition increases, the collage places $55 limit on the price of textbooks. How many textbooks will be sold now?
C. while the price limit is still in effect, automated publishing increases the efficiency of textbook production. Show graphically the likely effect of this innovation on the market price and quantity
Suppose Jean Splicer, an investor, buys $100,000 of shares of stock in a diversified bundle of Bio-tech firms and exactly one year later sells those shares for $108,000. If the value of the CPI at the date of Jean's purchase was 160, and rose by t..
Using data from 1988 for houses sold in Andover, Massachusetts, from Kiel and McClain (1995), the following equation relates housing price (price) to the distance from a recently built garbage incinerator (dist): fitted log(price) = 9.40 + 0.312 l..
A firm's call center handles 150 calls an hour. It can staff with full time employees or trainees. It has 28 full time employees and 20 trainees . A full time employee can handle 5 calls an hour and a trainee can handle 3 calls an hour.
A needed service can be bought for $550 per unit. The same service can be provided by equipment that costs $225,000, has a salvage value of $75,000 at the end of 10 years and costs $21,500 annually plus $35 per unit to operate.
Suppose the government imposes a price ceiling of $50 on a market characterized by the following information:Qd = 700 - 2P Qs = 100 + 4P Calculate the magnitude of deadweight loss from the price ceiling.
The XYZ Company produces whatchamacallits in a perfectly competitive industry. The market price is currently $8.50/unit. Freddie Freeloader, operations manager at XYZ's manufacturing facility in French Lick, Indiana, must decide how many whatcha..
Consider the following situation in the Country A's labor market: If the wage is w = $7:00, workers will provide l = 10 units of labor. If the w = $3:00, workers will provide l = 2. On the other hand, if w = $5:00, rms will want l = 6, and if w = $8:..
You currently pay $10,000 per year in a rent to a landlord for a $100,000 house, which you are considering purchasing. you can wualify for a loan of $80,000 at 9% if you put $20,000 down on the house. To raise money for your own downpayment, you w..
Obtain standard errors of your estimates in part (a) using the Wild bootstrap with and using the bootstrap (with B = 9; 999) test H0 : 2 = 0 vs. H0 : 2 = 0 at the 5% level.
A local realtor estimated the long-term income elasticity of demand for rental properties to be 0.9 and the long-run income elasticity for owner-occupied housing to be 1.10. Recent estimates indicate that income is forecast to rise at 5% per year ..
In a local market, the monthly price of internet access service decreases from $30 to $20, and the total quantity of monthly accounts across all internet access providers increases from 90,000 to 190,000.
Determine the economic activity that takes place in Underground Economy have any impact upon any Economic Indicator.
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