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Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90-0.20Q. If there is a price floor of 2.94, what would be the quantity traded?
A medical device company has a monopoly on a certain class of cardiac implants. Demand for the implants is given by P=28000-5Q and marginal revenue is given by MR=28000-10Q. The total fixed costs for the implants division is 50000 and the marginal co..
If your average pre-retirement earnings were $30,000 per year, your highest preretirement earnings achieved was $90,000 per year and you receive $20,000 per year in retirement benefits, what is the replacement rate?
Suppose life is discovered on Mars and that it turns out to be quite sophisticated. In fact, perfect competition prevails everywhere on the planet. Which of the following characteristics of Martian firms are we likely to observe.
Full employment is without a doubt the ultimate goal of every nation; however, in spite of the failures of controlled labor markets over the past thirty years there is still a lot of controversy
How harmful is the public debt? Are you concerned about the public debt? Why or why not? Was it wise for the government to use expansionary fiscal policy during the Great Recession even with the effect on the public debt? Do you feel that the benefit..
Define what we mean by money and how it is used in the day to day functioning of the U.S. economy. Be sure to include the major components that make up what is defined as money and which of these components is used most widely to identify what money ..
Discuss Soutwest Delta airlines merger and describe the competitive environment within the industry. Is there a dominant firm.
Throughout the 1970s and 1980s, genetic engineering increased crop yields in the United States. "General Motors said Monday that it will close 14 plants, including seven in Michigan, as part of its restructuring in bankruptcy."
What is a socially responsible effort? Social responsibility comes from the belief that people, governments, and organizations have a responsibility to the greater welfare of society
Based on the following data, compute the (a) unemployment rate rate (b) cyclical unemployment rate, and (c). structural unemployment
Draw the market supply and market demand in one graph. Next to it, draw the situation of one firm, with the average total cost, the marginal cost, and the price (which under perfect competition is the marginal revenue).
If supply at every price is reduced by five gallons, what will the new equilibrium price be.
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