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The demand curve for product X is given by QXd = 300 - 2PX. a. Find the inverse demand curve. PX = - QXd Instructions: Round your answer to the nearest penny (2 decimal places). b. How much consumer surplus do consumers receive when Px = $45? $ c. How much consumer surplus do consumers receive when Px = $30? $ d. In general, what happens to the level of consumer surplus as the price of a good falls?
Discusses some of the factors that can make the results of a regression analysis more useful or less useful to managers who are seeking to predict future costs for their companies. Looking for an explanation that will be about a page or more long.
Suppose that an impending environmental regulation to control that hazard is expected to reduce risk of premature death from 6/100,000 to 2/100,000 per year in that exposed population of 4 million people. Your boss asks you to tell her what is the ma..
There are 2.4 billion people in “severe” poverty with less than $2 of income per day. (a) What is the maximum combined income of this “severely” poor population? (b) What percentage of the world’s total income (roughly $75 trillion) does this represe..
Where does this short-run aggregate supply curve intersect the long-run aggregate supply curve that you drew? Just need an explanation of what it woudl look like?
A small university with many competetiors has determined that the price elasticity of demand for its services is equal to -2.5. The university Board of trustees is considering rasing tution by 10% to generate additional revenues. Is this likely to be..
Illustrate what will be the level of output and price in the long run if this industry were perfectly competitive.
Although I'm specifically interested in the likely economic consequences of implementation of an official world auxiliary language, since this is only theoretical, I'd like to know what have been some economic consequences, whether positive or negati..
What is the motivation for a bond issuer to issue bonds in a foreign market?? What are the positive economic effects of these transactions for the issuer/investor’s home economy and for the world’s economy? Negative effects?
An individual utility function is given by U(c,h) = c.h, where c represents consumption during a typical day and h hours of leisure enjoyed during that day. The real hourly market wage rate the individual can earn is w = $20. This individual receives..
Some observers argue that the coming of electronic commerce on the Internet signals the arrival of a new era of global marketing, as online retailers of everything from books and music to soft- ware and outdoor gear make it possible to buy products w..
Explain in detail the problem the country is facing. Government could address the problem with either increasing government spending, cutting taxes, or both. If the government decided to increase spending to address the problem, by how much should sp..
how should he change his bundle to reach his optimum? Explain your answer using the marginal utility condition at the optimal choice.
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