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your grandmother heard you were studying economic and decided to make use of your knowledge. she is selling her house and wants to know what price to ask for her well kept house in a growing neighborhood you need more information; what did it cost her? she says it cost 15,000 forty years ago. with these given,advise her on her asking price.
What is the size of the firm's profit. Suppose that the allocatively efficient output level in long-run equilibrium is 200 meals. Is the deadweight loss for this firm greater than or less than $60?
When the CR = 80%, is the market efficient when the market behavior follows the price leadership model?
How much insurance should I buy to be fully insured and what is a fair insurance premium?
For each of following cost-output relationships, explain the shape (U-shape, decreasing, increasing, constant) of the average total cost and marginal cost functions
When the price of a superior good increases, consumers demand more of it. As consumer income increases a larger percentage of that income is spent on superior goods.
Assume that the following data characterize the hypothetical economy of Trance: money supply = $180 billion; quantity of money demanded for transactions = $160 billion; quantity of money demanded as an asset = $10 billion at 12 percent interest, i..
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Discuss why it would cost Pete Sampras or Venus Williams more to leave the pro tennis tour and open a tennis shop than it would cost a coach of a tennis team to do so.
4.The opportunity cost of producing one more hot dog is $1.00. The price of a hot dog is $1.50. The producer surplus from selling one more hot dog is,The demand curve for hamburgers is the same as the,Markets may not achieve an efficient allocation..
Among the problems that hinder growth in developing economies are poor infrastructure, lack of financial institutions and a sound money supply, a low saving rate, poor capital base, and lack of foreign exchange. Explain how these problems are inte..
The quantity of coffee demanded Qd depends on the price of coffee Pc and the price of tea Pt the quantity of coffee supplied Qs depends on the price of coffee Pc and the price of electricity P e .
If Microeconomics is considered to be study of scarce resources. In which customers must make allocation decisions. These 3-basic trade offs include which products or services are to be manufactured
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