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Background questions to answer: Where does NSW get most of its natural gas supplies from up to now? What is happening to total domestic gas production in Australia?
Using the criteria of efficiency, define the ways a market may fail and explain how government regulation can offset the problems caused by market failure.
Suppose the company initially has market power and acts as a monopolist. How many pills will the company sell and what price will it charge consumers?
Given your answer above, explain whether, all else equal, the supply of the IRP increases, decreases, or remains unchanged. Explain the reason for your answer and depict it on your graph above.
What is the market equilibrium price and quantity? 2. How much is the consumer surplus and the producer surplus?
Suppose that new entry decreased your demand elasticity from -2 to -3 (made demand more elastic). By how much should you adjuct your price of $10?
Suppose that Investment spending of 420 is added (I = 420). Find Ye1. • Then suppose that we find that ΔI = 40. Find Ye2.
If you were offered an outrageous compensation package to join a company that is laying off employees, declaring bankruptcy, and/or performing poorly overall, would you accept the position?
Suppose a company is producing 1000 units of bottled power drink priced at $5. It is using a manufacturing process with a fixed cost of $1450 and a variable cost of $2.75 per unit (AVC).
For a given price P =$5, AVC = 3 and FC =20000, what is the DOL if the manufacturer id producing 15000 units. Using the DOL value calculated above what is the profits for a 10% increase and a 10% decr
Suppose the marginal costs of production for a company is $6 at its current production levels. suppose the price elasticity of demand is constant at -2 between the prices of $10 to $15, if the current
The salary in Arizona has decreased by 3% over the last 3 months. During this time, the sale of Snickers chocolate bars has decreased by 2% and gas sales decreased by 1%.
Joshua is a true entrepreneur with businesses around the world. He makes world-renowned cakes and coordinating products. Now he has begun making clothing with a cake theme/inspiration. In addition, he
Most peaches are grown in Georgia. Today you heard that the relationship between the peach farmers and the pickers is going sour, and there will soon be no peaches available.
Find the adjuste balance due at maturity for a 90 day note of $12,000 at 13.9% ordinary interest if a partial payment of $6000 is made on the 60th day of the loan
What ideas and plans do you have about approaching each of the 3 main phases and related tasks? What are the pros and cons of PBL?
Calculate the equilibrium level of income or real GDP for this economy. What happens to equilibrium Y if Ig changes to 15? What does this outcome reveal about the size of the multiplier?
If you made $40,000 in 1980 and in 2010, what would your income status or wealth be in each time period?
Find a relevant article from newspapers, magazines, etc. that is related to at least one of the Macroeconomic topics we have covered this semester. Summarize the article and comment on how
Firm A currently monopolizes its market and earns profits of $10M.Firm B is a potential entrant that is thinking about entering the market.If B does not enter the market,
Suppose that the market for corn is characterized by many small farmers/firms who have no impact on the final price of corn. The market demand for corn has been estimated to be
The demand for milk is given by Q=120,000-20,000P. a. What is the equilibrium quantity of milk if the market price is $3.00? b. What is the equilibrium quantity of milk if the market price drops to $2
Graph the demand curve for QY. You may use prices for Y of 2, 4, 5, and 10 as a guide. (You can use these four points as a guide to get a reasonable approximation for the rest of the demand curve.)
Suppose that you work for a nonprofit that promotes locally sourced agriculture. Your boss has tasked you with determining the equation for the market demand for broccoli. He or she states that you ma