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Variables often confuse the novice programmer. What are variables? How do we define/declare them and why? What are datatypes and why do we have so many? When do we need variables and how do we use them in our code?
Suppose that a monopolist has the ability to impose a two-part tariff pricing policy. Would it necessarily set a positive fee as part of its profit-maximizing policy? Explain. What would limit a monopolist’s ability to set such fees?
A foundry uses 3,600 tons of pig iron per year at a constant rate. The cost per ton delivered to the foundry is $145. It costs $92 to place an order and $18 per ton per year for storage. Find the minimum-cost purchase quantity.
Show how the following demand curves are likely to shift in response to the indicated changes: a) The effect on the demand curve for umbrellas when rainfall decreases. b) The effect on the demand curve for apple juice when the price of orange juice d..
Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works
Formulate a model for the problem
The initial cost of constructing a flood control dam is estimated to be $5 million, with annual upkeep costs of $499,526. Annual benefits (e.g., reduced flood damage, agricultural development, and tourism, etc.) are expected to be $1.25 million, wher..
What impact is increased internet banking likely to have on the demand for cash money? Be specific and detailed in your answer.
What would happen to the equilibrium price and quantity of latte´s if coffee shops began using a machine that reduced the amount of labor necessary to produce steamed milk, which is used to make latte´s, and scientists discovered that latte´s cause h..
A single monopoly firm faces the market demand of P = 90 − 2Q. Its cost function is characterized as C = Q2 + 100. Characterize the marginal revenue function. Plot the demand, marginal revenue and marginal cost curve. Characterize the equilibrium pri..
Explain the significance of realignment in American politics and make a prediction as to which groups may switch parties in the near (0-16 years) future
What is the impact of “time” on elasticity values and applications? What would happen to the demand for luxuries and necessities if wealth were to be redistributed from the wealthy to the poor?
Why is popcorn so expensive at the movies? Argue both that a high price for popcorn is price discrimination and then argue that it is not price discrimination.
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