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If the only pool cleaning service in town charges $50 per cleaning, he has 10 weekly customers and wants to add an 11th customer, and he needs to drop his price to $45, what is his marginal revenue for the 11th customer?
A patient visits a clinic. He incurs $5 in travel costs and has a copayment of $25. The clinics total charge is $75. The clinic spends $10 to bill the insurance company for the visit and uses resources worth $45 to produce the visit. The insurance co..
In exchange for $25000 today I have been promised $12285 per year for 5 years. Inflation has been averaging 8% per year. The inflation adjusted or real IRR is?
Assume that the currency-deposit ratio is 0.5. The Federal Reserve carries out open-market operations, purchasing $1 million worth of bonds from banks. This action increased the money supply by $2 million. What is the reserve-deposit ratio?
The consumer optimum: Kati-Lyn has to choose between eating Chinese food and Indian food. Both Chinese and Indian food cost the same. Which of the following equations, where MU is marginal utility and U is total utility, will lead to the optimal leve..
How are prices determined under perfect competition? Think about a firm that you have done business with recently. What industry does this firm belong to? For example, McDonald's is a firm in the fast food industry. What market structure would this i..
The demand curve for cookies is down word sloping, when the price of cookies is $2, the quantity demanded is 100. If the price rises to $3, what happens to consumer surplus?
Locate 1-2 articles from a news source that discusses the Federal Intelligence Surveillance Court (FISA Court) and write a 1-2 page paper that answers the following questions:
illustrates the likely effect on the marketplace for eggs. Indicate in each case the impact on equilibrium cost also equilibrium quantity.
Evaluate how average, total, and marginal costs change as the output of a good or service of your choice increases. Can economies of scale be maintained despite high start-up costs.
Illustrate what is the minimum price necessary for the company to supply one thousand cups.
We discussed the possibility that a startup firm in San Francisco plans to 3-D print rhinoceros horns that are indistinguishable from real horns. Assume they are able to produce these horns cheaply. If successful, what will happen to the market price..
One supply side measure introduced by the Reagan administration was a cut in income tax rates. Use an aggregate demand/aggregate supply diagram to show what effect was intended. What might happen if such a tax cut also shifted the aggregate demand cu..
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