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You've noticed that the elasticity of demand for standard cell phones increased after Apple's entry. Does this shed any light on the group's claim?
What effect will the tax have on the price the monopolist charges? What will be the pass-through rate?
Suppose that Kalamazoo Competition-free Concrete's demand function is D(P) = 5,000 - 50P. What is Kalamazoo's profit-maximizing sales quantity and price?
What will be the effects on aggregate surplus, consumer surplus, and producer surplus? What will be the deadweight loss created by the tax?
What are the aggregate surplus, consumer surplus, and producer surplus at the competitive market equilibrium?
What is the likely effect on aggregate surplus if resale of those tickets in a competitive market is possible?
At many colleges and business schools, lotteries have long been used to assign seats in highly popular lecture. Why might this new system be more efficient?
If the number of firms is fixed in the short run but not in the long run, how would such a change affect the market equilibrium in the short and long run?
The new technology increased the economies of scale in automobile manufacturing. In long run, how would it have changed the size of the typical automobile firm?
The daily demand for pizzas is Qd = 750 - 25P, where P is the price of a pizza. Analyze what is the new market equilibrium in the long run?
The daily demand for pizzas is Qd = 750 - 25P, where P is the price of a pizza. What is the new market equilibrium in the long run?
What is the new long-run market equilibrium if there is free entry in the long run? What if instead demand decreased to Qd = 925 - 5P?
The daily cost of making pizza in Seattle is C(Q) = 4Q + (Q2/40), plus an avoidable fixed cost of $10. What is the long-run market supply curve?
If the price rises to $1.25, what will be the market supply in the short run? In the long run? Graph the short-run and long-run market supply curves.
What is the market supply function if there are 10 firms making pizza? If 20 firms are making pizza? What is the market supply curve under free entry?
Juan's demand function for ice cream cones is Qd Juan = 10 - 2.5P. What is the market demand function? Graph the individual and market demand curves.
What is Noah and Naomi's marginal revenue when they sell 100 garden benches a week? Graph their inverse demand and marginal revenue curves.
Is there a single canned tuna market? A premium tuna market? What factors are important in defining this market?
Again using graphs, illustrate the effects of a sales tax on cake. Does the cake price change more in general equilibrium or partial equilibrium?
Using a graph, show how high a tariff the country must set to completely prevent imports from coming into the country.
Suppose the import supply curve of a good is infinitely elastic at the world price. Draw a graph to show the welfare effect of a subsidy on imports.
Suppose that the demand function for pizzas is Qd = 65,800 - 1,200P and the supply. What will the effect be on the aggregate, consumer, and producer surpluses?
What is the net expected payoff from each project? Which is better for Jeffrey, and by how much? How much will Jeffrey pay for the information?
Why might it make sense for the same riskaverse person to both eliminate risk by purchasing insurance and take on new risk by investing in the stock market?
nitially, Maria consumes 400 kg of food when it's sunny and 75 kg of food. How much insurance will she buy, and how much food will she consume?