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You are searching for a high wage from a wage distribution that is uniform on the interval (5, 8). What is the smallest wage you should accept?
Analyze how the income effect influences food purchases and provide some examples of the income effect that might occur when the price of food rises?
Show how this raises price and increases the total income of the suppliers in the drug industry.
Suppose Duke s favorite dance partner, Daisy, is grounded for makeup violations. Use your curves to show how Duke s chosen speed will change.
How will that affect the pharmaceutical company's production decisions? What about its decisions to conduct further research into new drugs?
What is the ratio of real GDP in India to real GDP in the United States in common prices? Why are these two numbers so different?
Briefly describe the expected environmental effect of increasing the MPG of automobiles, holding all else constant.
Which environmental protection equipment alternative should be selected? the firms MARR is 20% per year. Assume the equipment will be needed indefinitly.
What is the minimum payment that the neighbours must make to the firm to achieve this change in output? What is the maximum payment?
Find what price would you bid if you must win the project? What price would you bid if you want to maximize the expected value of the contribution from the cont
What is the probability that a randomly chosen bolt has a width of between 947 and 958mm?
What is the opportunity cost of a painting for each artist? Based on you answer in part a, who has the comparative advantage in producing paintings.
Two planes leave JFK airport at the same time, one flying north at 500 mph and the other south at 600 mph. In how many hours will they be 4400 miles apart?
When the United States imports cellphones from Japan, does the number of jobs in the United States decline?
What are the production costs of your economics class? What are the fixed costs? The variable costs? What's the marginal cost of enrolling more students?
What do you think would happen to the number of students desiring to park their cars on campus?
Suppose that the U.S. demand for maple syrup, in thousands of gallons per year, is Qd 6000 - 30P. What is the elasticity of demand at a price of $77 per gallon?
Explain the statement people respond to incentives and disincentives in relation to the demand curve and supply curve for good x.
The manager has been asked to determine the maximum level of net benefits and the level of Y that will yield that result.
Construct a cash flow diagram to determine how much the park could afford to spend now on the new technology.
Find the lowest price at which this product would be supplied. How many calculators will be supplied if the unit price is P200?
How do you (and people like you) and Baron Davis (and people like him) gain from specialization and trade?
Determine the level of the charge if they have a particular target for the reduction in the number of vehicles entering the congestion charge zone?
Suppose that each worker in the Foreign country can produce three cars or two TVs. What is the no-trade relative price of cars in Foreign?
What movements in supply and demand causes the banana price to slump from $13-$16 dollars per kilo in 2011 Feb to $1,20 per kilo in 2016?