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Waterson Power Corporation's regulator has just allowed a rate increase from 9 to 11 cents per kilowatt hour of electricity. The short-run demand elasticity is -0.6 and the long-run demand elasticity is -1.2.
(a) What will be the percentage reduction in power demanded in the short run?
(b) What will be the percentage reduction in power demanded in the long run?
(c) Will revenues increase or decrease in the short and long runs?
(c) How much was the total interest payment in 2010 that can be used for tax deduction (d) After the beginning of 2011, this person decided to pay $600 more each month, when will the loan be paid off
How will the taco stand proceeds be split?
Use this book only: Fred S. Kleiner's Gardner's Art Through the Ages: A Western Perspective, Volume II (14 th edition)
What are the maximization problems faced by the agent and the principal in the extended model? Apply the Nash equilibrium concept to solve for the optimal contract and
If the price of output is still fixed at $300, and the productivity of workers is still defined by the data in the second row, draw the VMPL curve, insert the supply limit and determine the equilibrium wage.
Helen just bought a house for $250,000. Earthquake insurance, which would pay $250,000 in the event of a major earthquake, is available for $25,000. Helen estimates that the probability of a major earthquake in the coming year is 10 percent, and t..
To receive discussion points, you must describe specific criteria that make the sources acceptable, the citation correct, or the paraphrase well written. Be wary of discussing the topic rather than offering substantive criticism.
Consider the market for rainbow sandals. Suppose average household income increases from $44,000 per year to $61,000 per year. As a result, the demand for rainbow sandals increases from 427 to 535.
Widgets are supplied by a perfectly competitive market. The marginal internal cost function is given MCI(Q) = (1/2)Q. Unfortunately, production of widgets also produces pollution, which has a marginal damage to society given by MCX(Q) = Q
The demand for widgets is found to be Q=100-11P +0.5Y, where P is the price of widgets in dollars, Y is average income in thousands and Q is the quantity of widgets in thousands. Say that P=7 and Y=50.
Determine the uniform quarterly series in quarters 0 through 12 of a cash inflow of $5,000 in quarter 1; $10,000 in quarters 2 to 5; and $12,000 in quarters 6 - 12 with an interest rate of 15 %.
a. Calculate the marginal revenue product at each level of labor input if output sells for $4 per unit. b. If the wage rate is $15 per hour, how much labor will be hired c. What is the firm's total revenue and total amount paid for labor at the level..
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