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The seller does not know the bidders' willing to pay for the object. Show that it is NOT a weakly dominant action for a bidder i to bid vi.
Tom has $2000/wk of income to spend on 2 goods. Derive the demand schedules for X and Y. Determine the values for X and Y that maximize utility when PX = 40 and PY = 50.
The firm that printed this text book bought the paper from XYZ Paper Mills. Was this purchase of paper part of GDP? If not, how does the value of the paper get counted in GDP?
Asian, African American or it would be a different outcome if there asked using indirect techniques, like using the implicit attitude test?
The cost of labor and capital to produce each unit of the new good is $60. The inverse demand for the new product is given by P=76 -.8Q. What is the cost function for the new product line?
At this level of output, the average total cost is $2.50 and the average variable cost is $2.20. Based on these data, the firm should shut down in the short run.
Explain what Connie must prove in order to maintain a claim for sexual harassment and constructive discharge. Discuss how Beaufort Distributing Company would defend against this claim.
what kinds of people are most likely to have their utility reduced by such a law? why do you think that the government requires such insurance?
Mike budgets $50 per month for his morning tea (T) which, he likes to drink with cream (C). He likes it prepared with exactly 8 parts of tea to 1 part of cream.How much tea and how much milk will Mi
A consultant could tell Jo with certainty if the project will succeed or fail, but only for a fee. What is the most that Jo should be willing to pay the consultant for the information?
What types of products might exhibit this type of non-linear demand curve? Explain from cost, price and competition perspective.
Managers of firms operating in perfectly competitive markets need to get into the heads of rival managers in order to make more profitable decisions.
If the nominal social discount rate is 7% and the rate of inflation is currently stable at 2 percent, should the city build either facility? If so, which one?
who are the winners and losers under the mandatory program? Specifically what consumers are made better off or worse off? Are local vendors made better off?.
Which is the least profitable investment for a candy shop that earns $1 profit per pound of candy? worker at $10 per hour, producing 8 pounds of candy per hour.
When the price of inputs in production goes up and none of the other variables that shift the curves change, what happens to the equilibrium quantity of sport utility vehicles?
How has the relative composition of M1 changed since 1965? Do your best to explain why this change has occurred.
The market price and quantity demanded respectively, at what level of output will this firm maximize profit? what is the level of profit per unit of output produced at equilibrium.
If you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions, what is the largest total surplus that can be achieved?
To raise money for the down payment, you would have to liquidate stock earning a 15% return. Neglect other concerns, like closing costs, capital gains, and tax consequences of owning.
It produces 150,000 bushels of crop. If it had doubled its land and labor, production would have been 325000 bushels. Does it have constant, decreasing, or increasing returns to scale?
Explain the interaction between Carson Company and Secura. How will Secura serve Carson's needs, and how will Carson serve Secura's needs?
Suppose the present price of good X is $50, PY = $100, M = $25,000, and AX = 1,000 units. Based on this information, the income elasticity of good X is?
Show the total and marginal products and indicate at each level of production whether the production function exhibits increasing, constant, or diminishing marginal productivity.
Monopolistic competition, oligopoly, or monopoly. What characteristics were most important in making your decision about the market structure of the business.