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Write a difference equation for the amount of water in a reservoir behind a dam on a river.
The reservoir holds 1 billion gallons of water when full
Annual water loss through evaporation equals 10% of the total in the reservoir.
Rainfall of 50 million gallons falls on the reservoir.
River water input varying between 300- 500 million gallons passes through the reservoir each year. The water can be captured behind the dam or released to the river below.
200 million gallons is released annually for use in agriculture and water supply for cities.
To maintain the health of the river, we need to have an annual flow of at least 100 million gallons of water after the agricultural and city uses have been taken.
Write a difference equation to calculate the amount of water in the reservoir
Indicate whether each of the following involves an upward or downward shift in the long run average cost curve or, instead, involves a leftward or rightward movement along a given curve. Also indicate whether each will have an increasing, decreasing,..
Why monetary policy conducted independently in the United States and is the intended effect always achieved or why not.
Consider two labor markets, A and B. Wages in labor market A rise. This could be due to
the shape depends partly on how much time consumers have to adjust a change in prices. Over a short period the demand curve is fairly steep because a few adjustments can be made.
The long-run and short-run aggregate supply curves reflect fundamental differences between long-run and short-run macroeconomic analysis. Graphically illustrate the long-run and short-run aggregate supply curves. Be sure to label the axes.
You know from data collected on the Widget Market that market demand and market supply have both increased recently. As manager of the facility, what decisions should you make regarding production levels and pricing for your Widget facility?
Assuming diminishing marginal product of additional workers and diminishing marginal product of additional hours-per-worker, how would a profit-maximizing firm adjust its mix of workers and hours-per-worker in response to [ceteris paribus]: (a) A new..
Describe how each of these activities affects government, households,and businesses. Describe the flow of resources from one entity to another for each activity.
Elucidate why is private property also protection of property rights, so critical to the success of the marketplace system.
A 10-year $20,000 savings bond with a coupon rate of 8% payable quarterly has what present worth if the purchaser anticipates a 10% quarterly rate of return?
How much could the store charge for an yearly membership in order to extract the entire consumer surplus via an optimal two-part pricing strategy.
Explain how each barrier can foster either monopoly or oligopoly. What barriers, if any, do you feel give rise to monopoly that will allow the government to become involved to protect consumers?
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