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A typical university football program requires alumni to join one of several booster clubs (each club gets seats in different parts of the stadium) before the person can buy season tickets. What has this got to do with consumer surplus?
What are the benefits and drawbacks of having a health program that varies by state versus having one that is uniform across the country? Do you find that the positives of state flexibility outweigh the negative or vice versa? Is it fair that similar..
State how each of the following affects the ADI curve, and EXPLAIN.
What is the inflation year over this year? What nominal or money interest rate would the investor receive?
Consider an economy with the production function Y = L^(1 / 3). Derive the Labor demand Curve. Assume M s = 45 and k = 3 . What is the equation of the aggregate demand curve for this example? What is the price level? What is the nominal wage level.
Suppose that the income elasticity of demand for hardback books is 2.5, that household incomes are rising at 2% a year., and that 2 million are initially being sold per year. The own price elasticity of demand is -0.5 and the cross-price elasticity o..
Economist L. Randall Wray writes in a paper, “[t]his approach, [M-C-M’], is suited to the study of realworld capitalist economies that can be characterized as operating at less than full capacity as the normal situation]. Give two common sense reason..
Suppose the demand function for a profit maximizing monopolists good is P = 160 - 0.5Q, its total cost function is TC = 20 + 10Q + 0.3Q2, and its marginal cost function is MC = 10 + 0.6Q. If the firm uses a uniform pricing strategy, then rounded to t..
What is the equivalent uniform annual cost of one machine in years 1 through 7 at an interest rate of 7% per year?
q1. recall that abc company has periodically borrowed funds but contemplates a stock or bond offering so that it can
q1. firm abc measured its mp of labor curve to be the followingmp 4000 - 2l where l is the number of hours of labor
How do tariffs work? Illustrate by referring to U.S. lumber imports from Canada, suing any set of quantities and prices to make your point. Public housing and public protection are two of many goods that government provides. One is considered a publi..
In the special case of 100-percent-reserve banking, the reserve ratio is 1, the money multiplier is 2, and banks create money. In the special case of 100-percent-reserve banking, the reserve ratio is 1, the money multiplier is 1, and banks do not cre..
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