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The market demand for a good in a monopoly is P = 800 - 2Q. The good can be produced at a constant cost of $10 for the first 20 units. After the first 20 units, the marginal cost equation is MC = 12Q.
What is the amount of producer surplus?
Duality theorem may be used to detrive the product supply functions and input demand functions as well as to determine comparative static results for various behavioural models in economics. Which behavioral model is associated with the procedure tha..
The area-dependent cost of a solar energy system is $175/m2 and the area-independent cost is $3, 350. The down payment of the initial expenditure is 25% and the rest is paid in equal installments over 20 years at an interest rate of 7%.
Under the responsibility scheme proposed by the Hong Kong government, households will be charged for solid waste disposal. Is this charge justifiable from an economics point of view? Are common resources public goods? Why?
A purely competitive wheat farmer can sell any wheat he grows for $20 per bushel. His five acres of land show diminishing returns because some are better suited for wheat production than others. The first acre can produce 1,000 bushels of wheat, the ..
q1. in our study of the problem of measurement error in the dependent variable we learn that one solution is to use
Describe the end of the war and the writing of the Treaty of Versailles. What were the terms of the treaty? Which nations were involved in writing the treaty? What was the American reaction to the treaty? Why?
When are differences (between one time period and another, between different production lines, etc.) between average or actual results important?
Two firms (A and B) are planning to produce a new soft drink for the summer. The soft drinks produced by the two firms can differ only in the level of sugar, aside from that they will be exactly equal. Suppose firm A chooses to produce a soft drink w..
Write down the outcome space, i.e., the space of all possible valid outcomes in this lottery. For example, a valid outcome is the draw (1, 4)
what are the examples to producers take advantage of the internet to implicitly fix the prices
Suppose that consumer price index at year-end 2011 was 150 and by tear-end 2012 had risen to 160. What will be the inflation rate during 2012?
Listed in descending order of numerical importance, the business population is comprised of: a) sole proprietorships, corporations, and partnerships b) sole proprietorships, partnerships and corporations c) partnerships, corporations, and sole propri..
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