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Consider an initial stock of 5000 tons of high grade ore. The demand function for this ore is P = 2400 – 0.2Q (Q is measured in tons/year), and the cost of extraction is constant at c = $200/ton. The discount rate is r = 0.10.
What is the maximum stock level, Sˆ, for which the entire stock will be mined in one season? Show your work
Explain role of technology in evolution of money is used by consumers. Explain illustrate what has happened to velocity of money because of technology.
Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies. Elucidate what production level are scale economies exhausted.
Use the two big questions of economics and the economic way of thinking to answer the following questions about the economic life of a homeless man.
Jane, like Mary, grows silver bells and cockle shells in her garden, only she doesn’t have any space constraints. She does have a money constraint: she can only spend 500 pence (p) on flowers. Like Mary, Jane has a utility function for silver bells (..
Find examples in current news publications of the strategic responses of individual businesses to changes in currency exchange rates. Are these firms adapting to the changing international environment, or are they engaged in political action to tr..
Suppose that one year has elapsed, you have received the first payment of 600$, and the market interest rate is still 5%. How much would another investor be willing to pay for your security?
Calculate consumption expenditures as a percent of real GDP for all years and calculate GDP growth in 2011 and 2012.
q1. explain why do some economists consider that better inventory control software as well as systems might help to
The last doctor hired treated 1,600 extra patients in a year, while the last nurse hired treated 1,000 extra patients in a year.
Let’s assume the demand for balloons is expressed by P=40-2Q. The supply is P=3Q. What is the equilibrium price and quantity? What is producer surplus? What is the consumer surplus?
Calculate the percentage growth rate in real GNP per capita in each of the years 1996 through 2002 from the previous year, using the definition of growth rate.
Explain briefly the system of system of the Balance of Payments Accounting for a country, including an explanation of the current account, the capital account, and the financial account.
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