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Suppose that the government set the price of chocolate at $6 per pound. Which of the following statements best describes an effect of this price control? There would be a surplus of 40 pounds of chocolate.
A) There would be a surplus of 40 pounds of chocolate.
B) Less chocolate would be demanded at $4 than at $6.
C) Producers of chocolate would want the price set at $4.
D) There would be a shortage of 20 pounds of chocolate.
Martha consumes apples and chocolate candies. Suppose Martha's budget line (BL1) for apples (A) and chocolate candies (C) is given below. what is the price of one unit of chocolate candies? Explain your answer
Is the firm operating in short run or long run? Explain.
Explain the various impacts of an import tariff in small nations vs. large nations. What are the three main reasons governments prefer using a tariff to restrict imports versus quotas?
Second Degree Price Discrimination
good x is a normal good. use indifference curves and budget lines to show the substitution and income effects of a
Identify three firms you might want to work for. Using the VRIO framework, evaluate the extent to which the resources and capabilities of these firms give them the potential to realize competitive disadvantages, parity, temporary advantages, or susta..
What amount must be placed on deposit today to equal $15,000 in 4 years at 15 percent per year compounded continuously?
A chair manufacturer hires its assembly-
a. Calculate the net present value of his migration.
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Given the above information, what are the equations for the total revenue (TR) curve and the marginal revenue curve? Draw a graph for each one. TR=PQ. Note on Blackboard: the marginal revenue curve has the same intercept and double the slope of the d..
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