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So these results seem reasonable? What do the results tell you about the relative size of the income and substituion effects for leisure fo Jake?
What are the equilibrium price and quantity of Frisbees? A concerned Parliament votes to impose a price floor $2 above the equilibrium price. What is the new market price? How many Frisbees are sold
Graph the supply curve and the demand curve. What is the equilibrium price and quantity? Calculate consumer surplus, producer surplus, and total surplus at the equilibrium?
If the marginal cost of planting and harvesting an acre is $16,000 per acre for each of the five acres, how many acres should the farmer plant and harvest?
On a new graph, plot the marginal rate of return to schooling implied by the wage-schooling locus described in part a.
How do these two programs affect cigarette consumption? Use a graph of the cigarette market in your answer. What is the combined effect of these two programs on the price of cigarettes?
Ignoring time value effects, how much would the firm save by raising all of the debt now, in a single issue, rather than in three separate issues?
consider the choices of Native Americans who decide to stay on their tribe native land or reservation, and those who choose to relocate to a city. If you were presented with this decision, which wo
What is the point price elasticity of supply at the equilibrium quantity? What is the new equilibrium quantity and price if per capita income increases to 20?
If the central bank wants zero inflation over the next year, what growth rate of the nominal money supply should it choose?
If everyone believes this announcement, and if all markets are in equilibrium, what are the values of the real money supply and the current price level?
Suppose that the real interest rate increase to r = 0.11. What would real output have to be for the equilibrium price level to remain at its initial value?
Assume that the quantity theory of money holds and that velocity is constant at 5. Determine the real demand for money and the nominal demand for money.
Write an algebraic formula that vies Mr. Midas's demand for money as a function of bond and checking account interest rates.
How much will the firm's total revenue (from both products) change if you increase the price of A (and only A) by 2%. Are A and B complements or substitutes? Explain.
suppose the state decides to increase the sales tax on all goods and services to generate the needed funds. Who will end up paying - the companies or the buyers? Explain.
Hamermesh question 14.15: if this were a competitive industry, and mergers result in production efficiency gains, who would benefit from the mergers and why?
Find the steady-state level of capital per worker for each country. Then find the steady state level of income per worker and consumption per worker.
Project to the year 2015 age specific survival rates using the synthetic method based on projections for the U.S. Describe the changes in San Diego County ASBR and TFR from 2010 to 2015.
Prove that a uniform standard will not meet the cost-effectiveness criterion. Determine how the abatement levels should be reallocated across the two firms to minimize costs?
What factors might help explain the happenstance she observes in the chart, and what implications does it have for the firm?
In contrast to 25 hours at Volvo's conventional assembly plant at Ghent, Belgium. If you were Volvo's CEO, what questions would you ask Uddevalla's managers, and what steps would you take?
What suggestions would you make regarding the compensation plans for top management? Please base your answer on economic principles.
What is the short run supply curve for each snuff box maker? What is the short-run supply curve for the market as a whole?
Suppose the price of labor is w = 24, and the price of capital is r = 6. Derive the firm's total cost function.What is the firm's marginal cost?