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Suppose that a technophile is willing to pay $800.00 now for a new iPhone 11, but is only willing to pay $400.00 if he/she has to to wait a year to buy it. Rest of the general public is willing to $500.00 for a new iPhone 11 whether he/she buys it now or after one year. There are only two time periods and the marginal cost of an iPhone 11 is $250.00. Assume that there are equal number of technophiles and general people. Ignore the time value of money and answer the question as if there is one technophile and one person from the general public.
Certainly there is a market for violent gaming, but I wonder if there is an ethical line that companies chose not to cross. For example, there are presently several games on the market that allow players to rape women. And then there is the issue of ..
Calculate the state and federal taxes owed by ABC. Also, calculate the effective marginal tax rate on ABC's income. (Answer: te 26%)
Carbon tax: Suppose the government imposes a carbon tax on oil production. Will this affect the supply or the demand for gasoline? Why? Which determinant of demand or supply is being affected? Show graphically with before and after curves on the same..
Suppose the real rate of interest is 3%, and the money supply is growing at 5%. If the growth rate of the money supply rises to 10%, then, according to the Fisher effect, what is the change in the real rate of interest? ________________ nominal rate ..
Discuss in the detail the Balance Sheet. What is shown on the Balance Sheet? Why is the Balance Sheet important to a hospitality firm? (400 words required.
A non-discriminating monoponist firm’s demand for labor can be written as VMPE = 30 - 0.005E. Labor is supplied to the firm according to w = 5 + 0.01E. Thus the firm’s marginal cost of hiring workers when it hires off of this supply schedule is MCE =..
A movie monopolist sells to college students and other adults. The demand function for students is QdS = 800 100P and the demand function for other adults is QdA = 1800 100P. Marginal cost is $2 per ticket. What prices will the monopolist set when sh..
What is the probability that the stenographer makes no typos in an hour?
Automated data collection has fostered the use of data mining for crime detection.
What are some of the central concepts involved in the discussion about the relationship between education, innovation, economic growth, and inequality?
Examine critically the health of the economy as a whole through the analysis of major economic variables and advise on likely policy alternatives
The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result, the transit authority notes a decline in ridership of 30 percent. Compute the price elasticity of demand for subway rides.
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