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If as a result of taxation, consumers lose $30 surplus and suppliers lose $50 surplus, explain which of the following may be the size of DWL and the tax revenue received by government assum
Jack sees commuting by train and bus as perfect substitutes (U = B + T), that is, he would exchange 1 commute by bus for 1 commute by train.
Assume that the annual growth in the real income in Japan is expected to be among 2 and 3 percent and that income elasticity of demand for housing in the Tokyo is estimated to be among 0.8 and 1.0 f
Assume your nominal income in the1995 was $24,000. Assume, too, that the Consumer Price Index for 2012 was 2.5 and that the base year for this index was 1995.
Suppose that the only source of income for this farmer is from the production of this output. Determine the best year in terms of real income for this farmer?
Demonstrate all of these answers in a diagram with NPV on the vertical axis and the annual discount rate (and IRR) on the horizontal axis. Label the IRR as point B.
Assume instead that you want to keep the lines as short as possible by maximizing production. Determine how many workers should you employ during the lunch hour?
Arlisle Company has been cited and must invest in the equipment to reduce the stack emissions or face EPA fines of $19,500 per year. An emission reduction filter will cost $60,000 and will have an e
Delta Dawn's Bakery is considering purchasing a new van to deliver the bread. The van will cost $21,500. Two-thirds of this cost will be borrowed. The loan is to be repaid with four equal annual pay
Under which one of the following conditions will economic theory indicate that a resource should be consumed in the current period?
If we are trying to maximize economic efficiency, which one of the following statements is true? Imply the extraction of all of a resource now as long as interest rates are positive
Describe why the Aggregate Supply curve becomes increasingly steeply sloped at the levels of RGDP near "full employment" and becomes especially steeply sloped beyond the "full employment" RGDP.
Describe why might the rate at which the Aggregate Supply curve shifts vertically upward increase when an economy produces beyond full employment.
Describe why the inflation rates are likely to rise when an economy expands beyond full employment capacity output. Illustrate an aggregate supply-aggregate demand diagram to illustrate your answer
Assume the worker productivity increased at the rate of 1.9% per year. If the labor force grew by 1.5% per year, discuss what rate of increase in the RGDP would be sustainable without incre
Briefly describe whether the value of bundling would be greater if consumer 1 valued skiing more than the consumer 4 AND valued spa massages more than consumer 4. Does this suggest when bundling wil
In final stage of a game show, the host offers Jamal a choice between (A) $4 Million for sure, or (B) a gamble that pays $1 million with a probability of 60% or $9 million with a probability of 40%.
Write down a 1- to 2-page paper identifying the various determinants of culture in your chosen country. Describe how these determinants affect each other in defining the culture of this country.
A multiplex movie theater calculates the week-end demand for afternoon shows to be D(p) = 1000-80p and demand for evening shows to be D(p) = 1000-50p.
Suppose you are the manager of a firm that receives revenues of $40,000 per year from the product X and $90,000 per year from the product Y.
Susan made four uniform annual deposits of $1800 in a savings account that earned an interest rate of 2% per year. Her last deposit was made 7 years ago. Determine the future value of her savings 1
Assume you could produce one more widget at a marginal cost of $5. If you do produce that fifth widget, discuss what will your average total cost be? Has your average total cost increased or decreas
The annual expenses are $6000. The annual income from a rented home is $24,000. If the house can be sold for $245,000 at the end of 10 years, discus how much could you afford to pay for it now, if
On February 1, the Miro Company needs to purchase some office equipment. The treasurer has said that he could pay for the equipment as follows. The company is short of cash and expects to be short f
If interest will be charged at 3% every 2 months, with compounding once every 2 months, explain how much office equipment can Miro Company buy now? Determine the effective interest rate?