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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?
If households receive $60 billion in wages, $10 billion in rent, and $20 billion in interest, how much are households paid for providing entrepreneurial ability?
How does the theory of efficient production apply to managers of government bureaus or departments that are not run for profit?
Explain how the reduction in supply from the reduced fishing waters will either increase or decrease consumer surplus and producer surplus, and show these changes graphically.
Use the data in the preceding problem to answer the following questions. Now suppose that the United States allows no oil imports. What are the equilibrium price and quantity for oil in the United Sta
Graph the consumer's Price consumption curve for prices, PX = 1, PX = 2, and PX = 3. Be sure to label your graph carefully and accurately.
In the first paragraph, discuss the relevant economic theory of your topic. In the second paragraph, you must include outside research to corroborate your thread.
Evaluate Rusal's prediction by using the demand and supply equations to make a prediction about the movement of world aluminum price?
calculate the monthly rate of inventory growth in the global aluminum market using the given demand and supply equations for the world aluminum market.
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?