The demand for pocket calculators is given by the functions: p=72-1/2Qd and the supply is given by the function 120=Qs-p where Qd= quantity demanded Qs= quantity supplied and p=price. what is...

The demand for pocket calculators is given by the functions: p=72-1/2Qd and the supply is given by the function 120=Qs-p where Qd= quantity demanded Qs= quantity supplied and p=price. what is...

Analyze gasoline price hike statistics in the following scenario. In June 2008, the U.S. retail gas price jumped from $3 to $4 a gallon. This is a 33% increase in price from January 2008...

What is the effective marginal tax rate of a government antipoverty program that guarantees every family a minimum income? Explain. Why might trying several antipoverty benefits to income level lead...

I need help with microeconomics

I will be appearing for class Xll boards in 2017. Please help me with this question, so that I can move forward on the topic

In terms of purchasing power, a fifty percent tax on the price of goods X and Y is equivalent to a fifty percent reduction in income

I know that the answers are x2 = (1-a)m/p2 and x1 = am/p1 but how would one derive these answers? (Economics and Politics student.)

Central Crude Oil is a crude oil monopoly in a market. The following table shows the liner demand schedule of this firm which cannot apply price discrimination. The firm's fixed cost is $2000 per...

She argues that our right to breathe and the future of our planet require real regulation instead of this type of government policy Which of the following describes why most economists would disagree...

I am really stuck on this problem, and I would greatly appreciate some help so I can learn how the right answers are achieved!! Consider a lake found in the town of Center Barnstead,...

Need help solving problems referring to calculating the price elasticity of demand being given a price and quantity amount.

Consumer demand for skateboards if fairly inelastic. Supply, on the other hand, is relatively elastic. If the government imposes a tax on skateboards suppliers will pay the larger portion of the tax...

Suppose road traffic behaves similar to an efficient market where the objective of each driver is to get to his or her destination as fast as possible. In a traffic jam, what should be the relative...

I am not fulling understanding this question. Does anyone have any suggestions? Each of 10 firms in a given industry has the costs given in the top table, below. The market demand schedule is...

I am not fulling understanding this question. Does anyone have any suggestions? Each of 10 firms in a given industry has the costs given in the top table, below. The market demand schedule is...

maximize U= e(x1+ In x2)^1/3

if the relative price of one unit of good x is 5 units of good y, then it follows that the absolute price of good x can be _ and the absolute price of good y can be _ Its economics...

A. A given amount of inputs will yeild more outputs B. The short run production function will rotate upward C. Total variable cost and average variable cost will be reduced at...

lIST SOME OF THE FIXED INPUTS AND VARIABLE INPUTS YOU WOULD USE IN OPERATING THE STORE.

Consider the simple optimal resource allocation model with one state variable (resource stock - St) and one control variable (extraction rate - Rt). The utility is drawn from the extracted resource...

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