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A nondiscriminating monopoly faces a demand curve from its customers with a constant price elasticity equal to -4. The price the monopoly finds it most advantageous to charge is p=10. At its most advantageous level of production, what is the value of its marginal cost?
Illustrate what do you think would happen to sale and price of DVDs after this.
A student can go to a movie exactly once in four periods t = 0,1,2,3. The instantaneous utility, in monetary terms, from going to the movie in period t = 0 is 2
Discuss major fundamental shortcoming of theories of cost determination in england prior to roughly 1870, why failure.
In microeconomics we are concerned about markets being in equilibrium. This refers to the point at which price, supply, and demand, are in equilibrium. What it means to have a market in equilibrium, and how changes in supply or price would affect thi..
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
How monetary policy affects interest rates and aggregate demand. Analyze how fiscal policy affects interest rates and aggregate demand. Evaluate why policymakers face short-run trade-off between inflation and unemployment.
What is a positive economic statement? Please give an example.
A firm uses labor and machines to produce output according to the production function f(L, M) = 4L^1/2 M^1/2 , where L is the number of units of labor used and M is the number of machines. The cost of labor is $40 per unit and the cost of using a mac..
What are the economic costs of waiting lines? How might these costs be measured? What decision criteria can be used to justify expanding services to reduce wait
q1. brian also kim own a business employing 8 workers to produce commemorative t-shirts for campus organizations also
A road costs $450,000 to build and $12,000 per year for street cleaning. The road is re-striped every 2 years for $28,000 and repaved every
Instead you could have invested X$ from her day of birth until (and including) her 10th birthday, which would have ended up with the same value in the account. What is X?
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