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What is the producer surplus for an individual firm? What is the producer surplus for a market when the number of firms in the industry is fixed and input prices do not vary as industry output changes? When is producer surplus equal to economic profit (for either a firm or an industry)? When producer surplus and economic profit are not equal, which is bigger?
Does that rule make sense from the perspective of economic efficiency? Why or why not?
Plot the levels and first differences of lnrgdp and lnrstockval and briefly comment on the graphs and obtain and comment on the variance decompositions for 24 periods ahead based on the original ordering of the variables.
Suppose the owner could engage in price discrimination. Would you expect the number of filled seats to increase or decrease? Explain.
Current monetary policy Go to the Web site for the Federal Reserve Board of Governors (www.federalreserve.gov) and download the most recent monetary policy press release of the Federal Open Market Committee (FOMC). Make sure you get the most recen..
1. consider a cobb-douglas utiltiy function of the form u xyz xyz with three consumer goods x y and zset up the
The interest rate is tied to the economy. Based on your opinion, will the economy grow or recede for the rest of 2011 and 2012 Will the pace of growth (or recession) fast or slow The current interest rate is very low.
A barnyard is to be fenced is as indicated in Figure 23. If 4200 feet of fencing is to be used in its construction determine the dimension x and y that will maximize its total area?
the following table gives the joint probability distribution between employment status and college graduation among
What's the likely bargaining negotiation outcome if the PBM bargains by telling each drug company that they're going to reach agreement with the other drug company?
What is the current value of the national debt? How has this changed over the past year?
Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying. a.) Draw Maria's production possibilities frontier for reading economics and sociology.
Suppose the Lexington mayor caps the amount police can ne speeding motorists at $500. The police vow to step up enforcement in order to cintinue to deter speeding. How high must the probability of being caught speeding.
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