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Two firms constitute the entire doghouse industry. One has the long-run cost function c1(y) = 3 + 4y 2/3 for y > 0 and c1(0) = 0, and the other has the long-run cost function c2(y) = 10 + y 2/10 for y > 0 and c2(0) = 0. If no new firms can enter the industry, show that at price p = 3 only one firm will operate.
below is a list of domestic output and national income figures for a given year. all figures are in billions. the
Explain how much pollution reduction should Appalachian Coal Mining undertake.
The demand curve for Froot Loops breakfast cereal is very elastic because: A market can be described by the equations Qd = 100 P and Qs = P. What are the equilibrium price and quantity in this market? Which good below might be expected to have the mo..
Explain how the indifference curve and budget line apparatus are used to derive a consumer's demand curve.
Assume that household consumption decision suddenly become less sensitive to change in the rate of interest.
Nominal interest rates are quoted at a variety of maturities, corresponding to different lengths of loans. For example, in late 2004 the U.S. government could take out ten year loans at an annual interest rate of a bit over 4 percent, whereas the ann..
The Federal Reserve Board is considerining changing its target inflation rate. However, they are concerned about the immediate effect on inflation. Find the sensitivity of equilibrium inflation to a change in the Fed's target inflation rate in the..
mixed economic systems answer the three fundamental economic questions of what to produce, how to produce, and for whom to produce, including global environments
Assume the total value of paper to society ( measuring willingness to pay) is given by the expression. Additionally there are pollution damage costs for which the external cost can be described as.
Robinson's demand for pineapples is given as Q = 40 - 4P while Friday's is Q = 20 - P. Supply is given as Qs = 6 + P, and Pc = $1. Find equilibrium price, equilibrium quantity, and the amounts Robinson and Friday will both end up consuming.
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Derive the short run total cost, short run average cost also short run marginal cost as functions of output q.
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