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Now consider the problem of a retailer like Circuit City or Best Buy. Such retailers can sell as many copies of Vista they like at the prevailing market price of $200.
A school fundraiser raffles off a free trip to Hawaii. Many people purchase raffle tickets, but there is only one winner.
We can examine the effects of a subsidy with a simple supply and demand model. Suppose the graph below shows the market for kerosene in Indonesia. The line labeled S1 represents
$10,000 is exchanged into Swiss francs at an exchange rate of $1 = 2 SF to buy the bonds. How many dollars will the investor have after one year if the exchange rate is then $1 = 1.5 SF?
What is the difference between fixed cost and variable cost? Explain the shape of the Total Variable Cost curve and explain why and how the total cost and total variable cost curves differ.
Been sold some adult tickets and student tickets for a basketball game each adult ticket cost $5 each student ticket cost$3
You plan a major adventure trip for the summer. You won’t be able to take your usual summer job that pays $6,000, and you won’t be able to live
Which piece of information is more important in the utility maximization process: marginal utility per unit of the good or marginal utility per dollar? WHY?
Suppose a pizza parlor is interested in increasing total revenue by adjusting its price. Should it raise prices or lower prices? Explain giving concrete examples.
Suppose Blanca would prefer a certain income of $20,000 to the expected value of the gamble. Explain her preference toward risk by drawing a graph.
It is assumed that the toothpast market is perfecty competitive and the current price of a case of toothpaste is $42.00. With an estimated marginal cost function to bas follows: MC=.006Q How would you
A country's current unemployment rate is below its natural rate of unemployment and its inflation rate is high. what type of macroeconomic equilibrium is the economy facing?
What advice would you give major commercial networks and producers of programming for these networks as more consumers adopt PVRs?
In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In September 2005 following Hurricane Katrina
Different nations answer the what, how, and for whom questions differently. China for instance, builds dams using many workers and only a little capital equipment.
The New England Soap Company is considering adding some processing equipment to the plant to aid in the removal of impurities from some raw materials. By adding the processing equipment, the firm can
Venus Computer can produce 23,000 personal computers a year on its daytime shift. The fixed manufacturing costs per year are $2 million and the total labor cost is $9,109,000.
What are the four sources of market failure? Explain how each of them causes individual profit- and utility-maximizers to make decisions that may be privately optimal but are socially suboptimal. What
Jasmine’s Snack Shop sells two brands of potato chips. She produces them by buying them from a wholesale supplier. Brand X costs Jasmine $1 per bag, and Brand Y costs her $1.40.
What is the prospective rate of return after taxes if straight-line depreciation can be used to write off these assets for tax purposes in 8 years?
The annual income from a rented house is $12,000. The annual expenses are $3000. If the house can be sold for $145,000 at the end of 10 years, how much could you afford to pay for it now, if you consi
Sally Stanford is buying an automobile that costs $12,000. She will pay $2000 immediately and the remaining $10,000 in four annual end-of-year principal payments of $2500 each
Pine Village needs some additional recreation fields. Construction will cost $225,000 and annual O&M expenses are $85,000. The city council estimates that the value of added youth leagues is about
An asset with a 8-year ADR class life costs $50,000 and was purchased on January I, 2001. Calculate any depreciation recapture, ordinary losses, or capital gains associated with selling the equipment
An engineer wishes to have $5 million by the time he retires in 40 years. Assuming 15% nominal interest, compounded continuously, what annual sum must he set aside?