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Assume the apartment rentals in LA are monopolized by a single firm. Inverse demand for the rentals is given by P = 2000 - 2Q. The constant marginal cost per apartment is $100 per month. Demand is continuous.
Assume the government imposes a price ceiling of $800. What is the new equilibrium price and quantity and how big is the deadweight loss?
ALS ( labor hrs per unit to produce sausage) = 1 hr per pound. Find hourly wage rate of Home's economy.
Four firms have roughly equal shares of the market for farm-raised catfish. The price elasticity of demand for the market as a whole is estimated at 1.5.
When US assets are more attractive to foreign investors, what happens to demand for dollars vs demand for a foreign currency.
Explain the theoretical reasoning why economists suspect that hospitals with different ownership forms will behave differently with respect to price, quality and access. Also explain some of the reasons why most empirical studies have not found any s..
You work for a company interested in initiating a team leadership training program, and your plant manager has appointed.
Explain and graphically illustrate how a two-part pricing strategy works when consumers all have identical demand characteristics. Clearly label on your graph the access fee, user fee, and the profits that the seller receives. What is true about the ..
What are the main components of a generic router? Give a brief explanation of each component.
Jim’s utility function is U(x, y) = xy. Jerry’s utility function is U(x, y) = 1,000xy - 2,000. Tammy’s utility function is U(x, y) = xy(1 - xy). Oral’s utility function is U(x, y) = -1/(10 + 2xy). Marjoe’s utility function is U(x, y) = x(y + 1,000). ..
The market for corn is initially in equilibrium. Suppose the production of? biofuels, which use corn as an? input, increases?, and at the same? time, increases in the price of oil cause farm production costs to rise. Which of the following explains t..
Public goods are difficult to provide in the private market because they have the characteristics of:
What is it meant by "Unlike simple policy rules, inflation targeting never requires the central bank to focus solely on one key variable"?
Sexual violence in jails and prisons has been discussed in the textbook in several chapters. This unit’s required reading also discusses it. Do you think that the new Prison Rape Elimination Act will make an impact in curbing this problem? Does the n..
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