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If the demand curve for wheat in the United States is P = 12.4 - Qpwhere P is the farm price of wheat (in dollars per bushel) and is the quantity of wheat demanded (in billions of bushels), and the supply curve fo wheat in the United States is P = -2.6 + 2Qs
where Qs is the quantity of wheat supplied (in billions of bushels), what is the equilibrium price of wheat? What is the equilibrium quantity of wheat sold? Must the actual price equal the equilibrium price? Why or why not?
Determine the current amount of money that must be invested at 12% nominal interest, compounded monthly, to provide an annuity $10,000 (per year) for 6 years, starting 12 years from now. The interest rate remains constant over the entire period of..
During this holiday, he gave his first Fireside Chat, a radio address where he explained his policies to the American people in plain language. After the four-day holiday, he still kept one-third of all U.S. banks closed (mostly small farmer banks..
refer to the following matrix, where each entry shows the level of utility attained by group members from following a particular strategy. Cooperate Shirk Cooperate 10,8 5,4 Shirk 6,10 8,7 If there is as..
The Columbia Company manufactures a battery-powered saw. Due to increased demand during the past few years, Columbia has increased plant capacity for the saw to 300,000 units. The firm's expected output and sales for the next year in their normal..
Two airlines, A and B, are deciding to choose whether Atlanta or Chicago should be their major hub. Given the diagram here, find all equilibria of this game. Airline A Atlanta..
Suppose that a firm faces a demand curve that has a constant elasticity of -2. This demand curve is given by q = 256/P^2. Suppose also that the firm has a marginal cost curve of the form MC = 0.001q. a) Graph these demand and marginal cost curves
On a tropical island there are 100 potential boat builders, numbered 1 through 100. Each can build up to20 boats a year, but anyone who goes into the boatbuilding business has to pay a fixed cost of $19. Marginal costs differ from person to person..
The demand for personal computers has been estimated to be Q = 500,000 - 700P +200I - 500S. Assume that per capita income I is $13,000 and the average price of software S is $400. When the price of personal computers is P=$3000,
If the demand curve for wheat in the United States is P = 12.4 - \(Q{p}\) where P is the farm price of wheat (in dollars per bushel) and is the quantity of wheat demanded (in billions of bushels), and the supply curve fo wheat in the United States..
Calculate the net private benefits of the project to the foreign-owned company, as a net present value and calculate the net social benefits of the project from the viewpoint of the Australian economy, with the same criterion.
What is the total cost function T C (q)? What is the fixed cost? What is the variable cost? Find the average cost function, the average fixed cost function, the average variable cost function and the marginal cost function. Draw them in two separ..
Compute the discount factor 1/(1+r)^t for r=1, 5, or 10 perent interest rates and t=30 and 50 years. remember that 1 percent is .01. based on your computation, is teh choice of discount factor important for deciding whether to do somehtinga bout..
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