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The demand curve for product x is given by Qx^d=460-4Px
a.)Find the inverse demand curve.b.)How much consumer surplus do consumers receive when Px=$35?c.)How much consumer surplus do consumers receive when Px=$25?d.)In general, to the level of consumer surplus as the price as the price of a good falls?
21st Century Pen Inc. produces 2000 pens per day, and hires 20 workers at a cost of $200 per day per worker. The price of each pen is $5 each. 21st Century Pen Inc. pays a daily rental rate of $60 on its factory and a daily insurance rate of $20. ..
Suppose it is known that the distribution of earnings for government workers is relatively less disperse than that for workers in the private sector. Use the Roy model to explain which type of workers - skilled or unskilled
two important policy goals of the government and the fed are to keep unemployment and inflation low while at the same
In a separate group discussion board, present two arguments. The first should argue in favor of the proposed merger, from the perspective of the firms. The second agrues against the proposed merger from the perspective of the broader public intere..
consider an economy that abides by the classical mode. the production function is unspecified but we know that the
Given the choice, a risk-averse person would be more willing to toss a coin twice and receive $1 each time tails comes up than to a coin once and receive $2 if tails come up.
question 1 using the same amount of resources the united states and canada can both produce lumberjack shirts and
Compute the price elasticity of demand for paint and show your calculations. Decide whether the demand for paint is elastic, unitary elastic, or inelastic. Explain your reasoning and interpret your results.
If Jane is currently willing to trade 4 movie tickets for 1 basketball ticket, then she must like basketball better than movies. True or false? Explain.
economists believe that when two countries specialize and trade each will be able to buy goods in which the other
Evaluate how well the design of the First IB web site meets the needs of a potential small business customer. Discuss the elements of the site that work particularly well in meeting the needs of this type of site visitor.
What are some of the reasons for the largest immigrant trend in the US since the 1970s and although the public has always been divided over bilingual education, why is this truer today than ever before?
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