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Ingrid, Inc. owns a gasoline station that is located across the street from a gasoline station owned by Sydney, Inc. These are the only two gasoline stations in town so all consumers have to buy at one or the other. A local economist has estimated the demand for this market to be:
Q=80-6P
Both Ingrid, Inc. and Sydney, Inc. buy gasoline from the same supplier and can buy all they want at $2.20 per gallon. Assuming that both companies want to maximize their profit and do not violate any collusion laws, how much will each firm sell (i.e. what are Q1 and Q2), what is the market price that will be charged, and what are each firms profits?
q.a woman managing a photocopy establishment for 25000.00 per year decides to open her own duplicating place. her
the quantity supplied of the Real GDP in the long run is $4.3 trillion. Evalute is the economy in short run equuilibrium. Will the price in long run equilibrium be greater than, of less than, or equal to 132.
An electric utility uses natural gas as fuel for a large multi-unit power plant. With all units in-service, for a given hour the plant's fixed cost is $120,000 and its variable cost is $50 per megawatt demanded. What is the hourly demand in megawatts..
A production possibilities curve is “bowed out,” or concave to the origin, because of:
What would happen to the demand curve in each of the following cases:
The US government has given legal status to some qualified illegal immigrants, white and blue color workers. What is the main economic reason for such a policy? Briefly explain and show it graphically (AD and AS).
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Why does a portion of Chinese residents' expenditures on goods and services exported from the United States to China likely add to the earnings of Chinese firms and those firms' managers and workers?
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q1. assume which parliament passes a law to permanently cut taxes starting the next year. assuming which consumers are
Explain carefully how the rate of inflation and the length of the holding period (how long a durable asset is owned) affect the burden of the capital gains tax for the owner of an asset. Explain what the lock-in effect is for capital gains that are t..
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