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Q. Show consumer surplus and producer surplus in this case. Be sure to separate consumer surplus of lottery winners from that of concert goers. Compare this to consumer and producer surplus when tickets are sold on a first come, first served basis. Who gains and who loses? Is re a deadweight loss? C. Briefly discuss how your answer to part (b) would change if resale were prevented. 3. Let supply curve for Tony Lama genuine sting-ray skin cowboy boots be given by following equation: Qs= 4p and demand curve be given by: Qd= 6000-2p. A. What is equilibrium price and quantity? B. What is elasticity of demand for hamburgers at equilibrium? (Your answer should be a number.) C. What are consumer surplus and producer surplus at equilibrium?
Use Appendix A at the back of the text to show the compound annual rate of growth in earnings (n=4).
Does Zara experience disadvantages from its "fast-fashion" allocation system. Are these disadvantages offset by the advantages.
Explain how the MAS have successfully used exchange rate policy to achieve price stability for the last two decades.
Calculate the marginal physical product of labor at each quantity of labor
Margin requirements on such a spread are often less than y would be if two contracts were considered separately. Why? Prices on two intra-market futures contracts tend to move together because similar fundamentals drive prices in both contract mar..
If Projects B and G are mutually exclusive, explain how would that affect your overall answers. That is, which projects would you accept in spending the $80,000.
Elucidate how should Microsoft market long distance telephone services in the new wireless telecommunications devices which also include Internet portals.
Gordon also works 5 hours a week for the economics department to maintain that departments web page. Illustrate the economics department pays gordon $20 per hour.
Explain how are presidential election outcomes related to the performance of the economy.
You find that the car requires repairs of 1,200 dollars in order to get it to run. Once it is repaired, it will definitely not break down again. Assuming that the car is worth 3,500 dollars after repairs, should you get it fixed.
When a industry's marginal revenue product equals the income rate, marginal revenue also equals marginal cost.
Assessing the development of the discipline from today's perspective, how would Keynes's impact compare with that of your candidate.
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