Question: Consider again the New York taxi market, where demand is given by Q = 10 - .5P, each taxi's cost is C = 980 + 3Q, and ACMIN = $10 at 140 trips per week. a. Suppose that, instead of limiting medallions, the comm ...
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Question: For linear demand and constant marginal cost, explain in commonsense terms why the deadweight loss of monopoly is greater the flatter (more elastic) the demand curve. The response must be typed, single spaced, ...
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Question: If you want to have $500,000 in today's dollars in account after 10 years, how much do you need to put into this account today assuming 3% annual inflation and a 4% nominal annual bank rate compounded monthly? ...
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Question: A treasury bond pays 9% coupon p.a. On June 12, the bond has 63 days to the next coupon payment and there are 297 days since the last coupon payment (assume that there are 360 days in a year). Since the last co ...
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Question: Suppose that there are only three types of fruit sold in the United States. Annual sales are 1,200,000 tons of blueberries, 5,400,000 tons of strawberries, and 11,000,000 tons of bananas. Suppose that of those ...
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Question: Suppose that the demand function for carrots is Q D = 200 - 2 p, and the supply function is Q S = 16 p. find the: equilibrium price, equilibrium quantity, consumer surplus, producer surplus, and govt revenue fo ...
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Question: What economic factors would affect a firm's desire to enter and exit a market? What are the market signals that would tell a firm that it is profitable to enter or exit? If possible, use a real-world example fr ...
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Question - Suppose the demand curve for a product is given by Q = 11 - 2P + 3Ps Where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.80. Suppose P = 1.20. W ...
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Question: Assume that Sunshine Realty Co. borrowed $300,000 from Columbia First Bank and Trust. In recording the transaction, Sunshine erroneously recorded the receipt as a debit to Cash, $300,000, and a credit to Fees E ...
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Question: Write in about 3 paragraphs regarding your impression of the market model (pure competition, pure monopoly, oligopoly, or monopolistic)you feel the newly formed company fits into.(Black and Decker and Stanley W ...
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