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What effect will the change above have on the market for coffee in Sacramento County? Draw the effect and indicate the new equilibrium.
Hom Tanks has exactly 12 hours per day to spend gathering coconuts. What is the price of fish and what is his income (at competitive equilibrium prices)?
Discuss how this will affect the short-term demand curve for milk. Discuss how this will affect the short-term supply curve for milk.
If you can borrow at 100% interest rate but can't lend (effectively making lending interest rate 0%), which option would you choose?
A hurricane in Chile wipes out several grape farms. How does this impact the market for Chilean wine what happens to price and quantity of Chilean wine?
Why is the market equilibrium level of hotel guest nights going to be larger or smaller than the efficient level of hotel guest nights? Explain.
What is the high skill worker's payoff from getting the diploma? What is the high skill worker's payoff from not getting the diploma?
Given price of a unit of output is 1 and firm faces input prices (w,r) = (2,5), using profit maximization, what is correct value for optimizing labour demand?
To maximize profits, firm produces at output level at which total revenue exceeds total costs by the greatest amount. Can you reconcile these two statements?
What does inelastic demand formally mean? Make sure to explain concept of price elasticity of demand using a simple formula and by providing a short narrative.
Pick and discuss the top three country characteristics, from the paper by Chang, Chang, He, and Tan (2022) published in Nature - Scientific Reports.
What is the definition of a Pareto improving allocation? Highlight one in your diagram. What is the meaning of a contract curve? Add one to your diagram.
Your analysis considered a price ceiling at a price lower than the final market equilibrium price (P2) determined. What does inelastic demand formally mean?
Given the data in the table below for a perfectly competitive firm, calculate the missing values for MC & MR. What is the profit maximizing level of output?
Determine Quasar's profit maximizing level of output and the price charged to customers. Explain whether the market is in a long-run equilibrium?
Identify an industry that enjoys perfect (or nearly perfect) competition. How do the competitors interact with each other and suppliers and customers?
Describe the good. What are its main characteristics? What are some of the substitutes and complements for the good?
If the price increases to P1,100 the units for distribution increase to 13,000 pieces. Calculate the price elasticity of supply given the increase.
Assume you are operating as a pure monopolist. What price should you charge and how many cookies will you sell? What are your total profits?
I'MaGadget Co. produces and sells widgets. Last year, it produced 9,000 widgets. What was I'MaGadgetCo's fixed cost? What was their average fixed cost?
How we come to know things. The second source in which modern learning theory is rooted concerns the nature and representation of mental life.
If a firm lays off workers during a recession, how will the firm's marginal product of labor change?
What type of observation research did the researchers conduct? Explain and incorporate a biblical perspective from the Old and New Testament.
How much revenue will you gain in this scenario? What can you conclude about the PED? Would you prefer to charge $20/lesson or $25/lesson?
The traditional Hawaiian art of weaving lauhala hats is lost. Will the DOJ file an anti-trust suit? Explain. If it does, what would be the result of the suit?