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Sketch a demand curve for a perfectly competitive firm. Explain what happens if they charge a price higher than what the curve indicates they should charge. Also, explain what happens if they charge a price lower than what the curve indicates they should charge.
What will be the percent change in the quantity demanded of minimum wage work if the minimum wage is increased by 10%? Show your calculation - What are the total wages paid to minimum wage workers before the increase?
A large city in the mid-West needs to acquire a street-cleaning machine to keep its roads looking nice year round. A used cleaning vehicle will cost $85,000 and have a $20,000 market (salvage) value at the end of its five-year life. A new system with..
Who are the main beneficiaries of tax-exempt industrial development bonds (which enable communities to borrow funds to re-lend to firms constructing new plants within the city).
What key economic concepts underlie the employ of discount coupons by businesses?
Find an example of a merger that has been in the news within the past 6 months. What is the economic justification for the merger? Are there any antitrust concerns with the merger? Is there a role for government in regulating this merger?
Consider the following game: There are 5 pirates on a boat, conveniently named P1, P2 P3, P4 and P5. These 5 pirates have just dug up a long lost treasure of 100 gold pieces. They now need to split the gold amongst themselves, and they agree to do..
The following graph shows the situation after the U.S. government removes a tariff on imports of canned tuna.
Suppose that the skills acquired in school depreciate over time, perhaps because technological change makes the things we learned in school obsolete.
Replicate Table, using log of wage rate as the dependent variable and compare the results thus obtained with those given in Table.
Stan Moneymaker presently owns a 10-year-old automobile with low mileage (78,000 miles). The NADA "blue book" value of the car is $2,500.
Does PNC have a dominant strategy? What is it? Does Citizens have a dominant strategy and Does the result of your answer change if the game is played an infinite number of times?
In a perfectly competitive market, demand is QD = 32 - 1.5P and supply is QS = -20 + 2.5P. Find equilibrium price and quantity and producer and consumer.
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