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Consider the problem of a rational consumer with an experienced utility function given by 10ln(x)+m and a wealth level W=100. Suppose that the market price for good x is p=$2 per unit.You are asked to
Consider a consumer who has an experienced utility function given by UEU(x,m)=2sqrtx+m. Let q denote the market price of good x, and assume that it remains fixed throughout the problem. The compa
It takes a phlebotomist 15 minutes to complete a blood draw. The supplies for each draw cost $4, and the phlebotomist earns $20 per hour. The phlebotomy lab is designed to accommodate 20,000 draws per
Suppose, unfortunately , your mathematics and economics professors have decide to give tests 2 day from now and you can spend only a total of 12 hours studying for exams .After some thought, you concl
Suppose you are the manager of a California winery. How would you expect the following events to affect the market equilibrium price you receive for a bottle of wine? Please state the shift leftwar
Becky really likes Macaroni Grill but can only afford to eat out 4 times a year. Her boss gives small raises, so this year she receives 4% raise. She decides that a 4% raise is enough to warrant going
THE SOUTH AFRICAN GOVERNMENT IS NOT PROVIDING ENOUGH WELFARE OR SUBSIDIES TO THE POOR AND UNDERPRIVILEDGED. 1.What are welfare payments or consumer subsidies? 2.What is the South African
Consider an economy in which a monopolistic firm serves two identical, but separate markets, called A and B. The aggregate inverse demand in each market is given by 1000−q. The cost fu
Consider a market in which aggregate demand is given by 1000−10p, and aggregate supply is given by 10p, where p denotes the market price. What is the maximum amount of revenue that the gove
Consider the problem of a competitive firm which has fixed costs of $1000, semi-fixed-costs of $1000, and variable costs given by q^2. What is the maximum market price at which the firm decides t
A clinic has $1 million in revenues and $950,000 in costs. What is its operating margin? If the clinic invested $400,000. What is the return on investment and is it adequate.
For the most recent seven years, the U.S. Department of Education reported the following number of bachelor's degrees awarded in computer science: 4,033; 5,652; 6,407; 7,201; 8,719; 11,154; 15,121. Wh
Consider a market in which consumption of the good being traded generates a positive externality. There are 100 identical consumers, each with a utility function given by 1/2√q+m+√G,
The Law of Large Numbers explains why it is unlikely that the actuarially fair premium for an insurance policy will be the same for a small start-up firm as it will be for a large employer such as a u
Assume that the following data describe the condition of the banking system: Total reserves $200 billion Transactions deposits $800 billion Cash held by public $400 billion Reserve
Which statement best describes the economics of Caribbean South America? A. Venezuela benefits from oil resources while other nations rely on cash crops. B. The entire region largely depends
If Alisha Maintenance manufacturing has: total maintenance cost of $2,785,000 total fixed maintenance cost of $310,000 total variable maintenance cost of $2,475,000 total mai
According to the Sleep Foundation, the average night's sleep is 6.8 hours. Assume the standard deviation is .7 hours and that the probability distribution is normal. a. What is the probability th
What would be the present value of an item that has a salvage value of $25,000 at the end of four years? Assume a discount rate of 3.8% for an end-of-year factor. $25,950 $24,085 $20,
Assume that a $1,000 bond issued in 2012 pays $100 in interest each year. What is the current yield on the bond if it can be purchased for (a) $1,200? Yield on $1,200 bond is = ?% (b) $1,0
For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume the standard deviation is $3,730 and that debt amounts are
People are more likely to clean up waste in their homes than at a community park because.. A. people expect the community park to be dirty. B. hiring a person to clean the home is expensive.
A limited liability company is the best form of business for owners who? A. are concerned about keeping their costs of production at a minimum level. B. want an outside company to hand
are there any current subsidy or welfare issues that are being duscussed or addressed in parliament or in municipalities?
What role should our government play in Price Ceilings and a Price Floors?