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If the price ceiling or price floor is ineffective, are the new consumer surplus, producer surplus and quantity supplied equal to the ones in a free
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First Function: TC = 100 + 60Q - 3Q' +0.1Q Average Average Marginal Quantity Fixed Cost Variable Cost Total Cost Cost Variable Cost Cost 100.0 157.1...
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Consider a moneylender who faces two types of potential customers: call them the safe type and the risky type.
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Economics 105 Burhan Biner DePaul University Winter 2016 Problem Set II Due March 2, in class. As long as your handwriting is legible you can write...
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U(x1, x2) = 20x1 + 40x2 A. U(x1, x2) = min{ 2x1, 4x2}. ____ 18. Joe Bob"s cousin Peter consumes goods 1 and 2.
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show all work If the MPC is = to.8 and spending increases by 30 billion what is the increase in GDP ? If the MPC is = to.75 and spending increases by...
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The Bookstall Inc. is a specialty bookstore concentrating on used books sold via the Internet. Paperbacks are $1.00 each, and hardcover books are $3....
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Suppose that the average White household had an income of $40,000 per year, and that the average Black household had an income of $20,000 per year.
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An academic journal is considering offering a new service which will send articles to readers by email. There are two types of potential users,...
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1. Suppose Parliament decides to strip the Bank of Canada of its monetary policy powers and decides to legislate interest rate changes. a. How would
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I have a microeconomics assignment due next week. I have attached the assignment.
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American Airlines (AA) and Delta are engaging into the following one-shot game:
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I need help with the following question?
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[30 marks] Pieland County has a perfectly competitive market for apples. Each day, the demand and supply for kilograms of apples are given by:...
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This paper uses a new survey to contrast the wages of genetically identical twins with different schooling levels.
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Suppose there are 100 identical competitive firms operating in the Frisbee industry. Each firm's total cost function is: TC=100+10q+2q^2.
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Suppose that the demand curve is given by the following: P = 10 Q. Moreover the supply curve is given by P = Q.
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You are studying investment demand and want to estimate how ownership structure and type of industry affect the fraction of a firm's new capital that...
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You collect unadjusted, quarterly data on nominal wages, unemployment, and prices in the United States from 1940 through 2011 from the United States...
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When an FE curve, showing the external balance of a country, is superimposed on an IS-LM framework, the position of the FE curve with respect to the
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Answer the following: Question: An inflationary gap occurs: when the equilibrium level of GDP exceeds potential GDP b. whenever there is an upward...
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An economist claims, based on an econometric study, that high profits in a certain industry are explained by that industry's high Herfindahl-...
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Hotelling's model has been used to describe differentiation in the political "market.
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Consider the two-period model we studied in class. A consumer's income in the current period is Y1 = 110, and income in the future period is Y2 =...
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A local restaurateur who had been running a profitable business for many years recently purchased a three-way liquor license.
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Lets compare the U. economy in 1994 to the current U. economy. Ignoring population growth, the two major changes between 1994 and 2014 are:
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Assume the demand for a good is price inelastic, i., e d 1 in absolute value . This means that if price decreases by 50 percent, quantity...
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what are the highest and lowest payments that the beekeeper farmer team will accept for the sixth day?
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Lois and Clark have the same preferences over leisure and consumption, two normal goods. They also have the same daily nonlabor income $20 and hourly...
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the question is below:
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Fixed Rate CD $16 Treasury Bills $11.50 Saving Deposit $4 Discount Loans $2.
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The table below presents the average monthly demand and supply of 4' 8' sheets of plywood from a typical home building supply store.
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Based on the information presented above in the five case studies, youare to voice your view on how Institutional Review Boards (in the U.
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A parking garage costing $20,000,000 will have an estimated net annual income of $2,000,000.
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Homework 7 Econ 201 1. (30 Points) Consider a firm with short-run production function Q=K+L. Right now, the firm has 10 units of K, w = 3, and r =...
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Q1. If the price of AA corn remains at $5.00 per bushel, determine the GM prices for which Mercer would be indifferent growing each type of corn in each farm. Can you use these break-even points r
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Suppose that a monopolist faces a demand curve: Q D = 3375P 3 They have constant marginal costs: MC = 10 a) What is the price elasticity of demand?
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If hikers were required to pay a fee to use the Overlander Trail in Jasper National Park, the use of this common resource would be ______.
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In year 2007, the population of island I is 150, 000, of which 100,000 are aged 16 or older. Of this 100,000 people, 60,000 have jobs (40,000 do not)....
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Suppose a company wants to determine what its optimal advertising budget is.
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Suppose an individual spends all his income on only two goods, good X and good Y. Moreover, suppose that you were asked to derive his price...
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US has never defaulted on a loan or missed an interest payment. Current taxpayers pay the interest on the Federal debt. Thus, without a national...
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The Historical Development of U. Thomas Malthus (1798): Scarcity is inevitable because population grows to exhaust its resource endowment Harold...
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A consumer buys only jellybeans and wrinkle remover and the more of any one he buys, the lower the marginal utility of that good.
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Determinants of the price elasticity of demand Consider some determinants of the price elasticity of demand:
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All the combinations of goods and services that can be produced in a given time with a fixed amount of resources are called A. production...
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Unemployment Exercises Calculate labor force, unemployment rate, and labor force participation given the following information. # employed:3 million...
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If inflation increased to 4% and unemployment was listed at 8%, which of the following policies would an economist most likely recommend using?
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The second largest public utility in the nation is the sole provider of electricity in 32 counties of southern Florida.
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explain why general level of wages in the united states and other industrially advanced countries.
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