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A small Indiana town has one resident who uses and enjoys the local bowling alley. The marginal benefit of bowling for that resident is given by MB=50-6Q. The manager at the bowling alley has set the price of a game at $20. What is the total benefit for the resident?
Suppose that in a week the price of Greek yogurt increases from $1.25/lb to $1.75/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,00 lbs to 150,000 lbs. What is the price of elasticity of supply for Greek yogurt?
How do managed floating exchange rates operate Why were they adopted by the industrialized nations in 1973 Has the abandonment of the Bretton Woods system of adjustable pegged exchange rates been beneficial or detrimental to global financial stabi..
Describe the different aspects of the business that you should be looking at from an economics perspective in order to run the company efficiently and explain using economics theory how you would improve the running of your company.
Illustrate what implicit assumptions is the publisher also the analyst making about price elasticity.
You decide to start a business that provides computer consulting advice for students in ur residence hall. what would be an example of an implicit cost you would incur in operating this business ?
A manufacturer of hardboard and fiber cement siding s and panels purchased new equipment for its new product line for $20,000. Declining balance depreciation at a rate of 1.5 times the straight line rate with a 5-year recovery period and an estimated..
Suppose that a monopolist's product could be either high quality (H) or low quality (L).
1. in recent years consumption spending by households has accounted for about 70 of the total spending aggregate demand
Suppose you run a manufacturing business that is involved in manufacturing and selling a single product. The fixed cost to run the business is $15,000 and the constant marginal cost is $7.50 per unit. The sale price of your product is $15 per unit. F..
Suppose that two consumers care only about the goods that they own. (The goods are private for them.) Starting from a competitive equilibrium allocation, is it possible for both consumers to be made simultaneously better off by trading with each othe..
Why do most modern societies try to reduce poverty? Why don’t they do so by simply passing a law requiring everybody to have the same income? Explain
Consider the market for carbonated water and suppose that demand is given by D(p) = 100 – 5p There are only two firms producing carbonated water, each with the same constant unit cost c = 2. What are the equilibrium prices and quantities if the firms..
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