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The demand function for a good is given by Q = 400 - 25P - 0.4P2 , At what price the demand elasticity is -0.8?
as an environmentalist you are very interested in how economics plays a role in determining how many and what type of
The manager of a coporate division faces the possibility of an audit every year. She prefers to spend time preparing if she will be audited; other wise, she would prefer to invest her time elsewhere. The auditor, who gets recognized for uncovering..
1. you are the manager in a market composed of five firms each of which has a 20 percent market share. in addition each
Suppose a product can be produced using virgin ore at a constant marginal cost given by MCv=5 and with recycled materials at a marginal cost given by MCr=3+0.5q . If the (inverse) demand curve where given by P=10-0.5q , how many units of the product ..
Calculate the total producer surplus at a market price of $5 and How do your answers change if the price falls to $2 - What is the equilibrium price and quantity?
to be specific suppose we have a two-period model. an individual earns labor income y0 100k at time zero and earns no
Identify the extent of safety issues in Canadian hospital care. Describe strategies that might be put in place to improve safety?
identify a company in your local area that you would classify as a monopoly. explain why you classified the company as
Assuming there is no change in either demand or the firms' cost curves, explain what will happen in the long run to the price of fertilizer, marginal cost, average total cost, the quantity supplied by each firm, and the total quantity supplied to ..
Give a brief summary of economic costs. Presume a firm is operating at the minimum point of its short-run average total cost curve, so that marginal cost equals average total cost. Under what circumstances would it choose to alter the size of its pla..
If the banking system has a required reserve ratio of 10%, then the money multiplier is: If Bank A receives a $10,000 deposit and the reserve requirement is 10%, how much does Bank A have available to loan out?
Consider a particular genetic disease affects 3% of adults in the U.S. population. Fortunately, there is a genetic test for the gene that causes the disease. The test is 98% accurate; that is, 98% of the people who take the test get the correct..
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