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Suppose there are nine sellers and nine buyers, each willing to buy or sell one unit of a good, with values {$10, $9, $8, $7, $6, $5, $4, $3, $2}. Assuming no transactions costs and a competitive market, what is the equilibrium price in this market?
a. $5
b. $6
c. $7
d. $8
a firm produces a product with a fully allocated average cost equal to 20. if the price elasticity of demand for the
a. if televisions are sold in a perfectly competitive market, calculate the annual number sold. under what conditions will the market equilibrium be economically efficient b. suppose tv sets are banned. calculate the loss in consumer surplus as a r..
A clever sports economics student asked the Athletic Director at his or her university to dig back into the records for data on attendance and prices at the college's baseball games
the nation of ectenia has 20 competitive apple orchards which sell apples at the world price of 2. the following
You are given the following model that describes the economy of Hypothetica. 1)Consumption function: C=100 + .8Yd 2) Planned investment: I = 38 3) Government spending: G = 75 4) Exports: EX = 25
Joe sells vacuums. Given the demand for vacuums at P= 15 - .001Q. Joe faces constant cost of $3 per vacuum and $5,000 fixed cost. What is the dead weight loss given profit maximized out put is 6,000 units and rpice 9$
Suppose that business travelers and vacationers have the following demand for airline tickets from New York to Boston: Price Quantity Demanded Quantity Demanded for business travelers for Vacationers 150 2,900 1,000 200 2,700 750 250 2,550 550 300 2,..
The manufacture has determined that men value a simple microwave at $70 and one with auto-defrost at $80 while women value a simple microwave at $80 and one with auto-defrost at $150. If there is an equal number of men and women, what pricing str..
Consider the indirect utility function: v(p1; p2; m) = m /(p1 + p2) a. Derive the Marshallian demand functions.b. What is the expenditure function c. What is the direct utility function
Consider a two consumer exchange economy. Consumer 1 and consumer 2 have utility functions given by:u2=xy These consumers are initially endowed with: Compute each consumers demand functions for goods x and y.
Estimate the variances. What do they say about the health of the project? Reestimate with an actual cost to date of $750,000
A few years ago, a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment accounts
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