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Question - Pule purchases four bottles of bathroom cleaner for $3 each. The maximum prices she would have been willing to pay for each bottle are $6 for the first bottle, $5 for the second bottle, $4 for the third bottle, and $3 for the fourth bottle. The marginal cost of producing the bottles is $2.50. What is Pule's consumer surplus on the fourth bottle of bathroom cleaner?
What challenges does china face in its industrialization program? Describe how china is trying to cope with these challenges
president obama has not yet decided whether he will approve a new pipeline the keystone xl that would carry newly
Describe the formation of early writing systems. Explain how settled agriculture led to civilization (meaning economic specialization and interdependence).
Economic growth rates vary greatly from country to country. Look at the experiences of the United States, Japan, Ethiopia, and China over the last twenty years.
3.Suppose in the short run a perfectly competitive firm has variable cost = 4q2, and MC = 8q where q is the quantity of output produced. Also, the firm has fixed cost F = 144.
Opportunity cost is one of the cornerstones of managerial economics and the decision making. First, provide your own explanation of dissimilarity between opportunity and accounting cost, and accounting and economic profits. Then, please provide an ex..
In Japan, one worker can make 5 tons of rubber or 80 radios. In Malaysia, one worker can make 10 tons of rubber or 40 radios.
Explain why scarcity forces individuals and society to incur opportunity costs. Give specific examples. (2.5 marks for explanation and diagram plus 2.5 marks for specific examples)
the ali baba co. is he only supplier of a particular type of oriental carpet. the estimated demand for its carpets is
As price falls along a particular supply curve, producer surplus: A. decreases. B. remains constant. C. increases rapidly.
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000-200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard..
These problems related to Economics, mainly macroeconomics. These problems are about economic instruments. Economic instruments are mainly used for environmental protection.
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