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Suppose that Mensa Inc is a representative firm in a perfectly competitive industry. Mensa's total cost of production is TC= 5,000+5q^2, where q is mensa's output. Based on this equation, mensa's m
Determine the equilibrium price and quantity of raw chocolate in 2005. Calcualte the price elasticity of demand at the equilibrium price and quantity.
Domestic producers often base their claim for import protection on the fact that workers in country X are paid substandard wages. Is this a valid argument for protection? How does labor costs per u
Consumer A gets 0 units of X and 4 units of Y and Consumer B gets 4 units of X and 0 units of Y. Is the allocation Pareto Efficient?
Explain why system of marketable pollution permits leads to less costly pollution abatement and higher concentration of polluted areas than a command and control system.
What are some of the major factors that have led to the collapse of state power in a number of countries and the rise of revolutions?
Assume that the consumer's preferences satisfy the assumptions of completeness, transitivity, and more is better. State specifically what the consumer could do to increase their utility.
Why any change in investment, government spending and exports leads to a parallel shift in Aggregate Expenditures
In uncertain times, especially when the economy is experiencing a downturn, consumer spending tends to decline and savings rates tend o increase.
If the table represents the demand faced by a monopoly firm, then what is that firm's marginal revenue as it increases output from 1300 units to 2200 units? Show all work.
Under the payback method and assuming these machines are mutually exclusive, which machines would Dammon Corp. choose?
The loss of employment for the previous toll workers. Can you provide any examples of what kind of equality could be made to offset these increased society costs?
Karl Marx and Max Weber held opposing views concerning social theory. Consider an intellectual debate between Weber and Marx over the nature of social stratification in the industrial and POST-indus
On the axes below, draw the demand curve (with blue ink) and the supply curve (with red ink) for yak butter. Write down the equation that you would solve to find the equilibrium price. Solve 120 - 4p
what could be done to encourage people to spend more so as to increase aggregate demand and invariably, create employment possibilities.
Suppose a firm in a competitive industry has MC = 20 + 10Q, AVC = 20 + 5Q and TFC = 250. Determine the following: Maximum level of profits and output level when price equals $100.
The government imposes a fixed fee per year on each firm operating in a competitive market. What happens to output, the optimal scale of a firm, and price if there is a free entry into the market.
Sloppy person is coded as neat = 0, average = 0. With y = percent of sales quota, perform a linear regression using the other variables as predictors.
The external marginal cost of producing electricity is MCexternal = 6Q while the internal marginal cost is MCinternal = 4Q. The inverse demand for electricity is given by P = 120 - 2Q.
The interest rate and the level of investment spending in the economy are at point C on the investment demand curve. To achieve the long-run goal of a noninflationary full-employment output Qf in t
Using the given information: How much output would a competitive industry produce, and how much output would a monopoly produce?
Does efficiency prevail in the Gilroy labor market? If not, what is the size of the deadweight loss? you must use a diagram and show the appropriate values on it.
How do we measure income inequality? What problems arise the more unequal a country's income distribution becomes? What policies do governments adopt to redistribute income and how do those policie
What are the pros and cons of letting anybody (banks, private citizens, environmental groups, government agencies, etc.) buy and sell transferable discharge permits, in addition to emission sources