Could you please send me the solution to the following problem? Thank you Suppose there are two producers of silver in the world: Mexico and Peru. In 2014, total production was 280 (millions of ounces), whereas price was $18 per ounce. Marginal cost is constant at the level of $10 per ounce (Mexico) and $12 per ounce (Peru). Finally, suppose that firms compete according to […]
Suppose you are employed as a waiter at a restaurant at Broadway making $8 per hour. You have to take two hours off work to go to the doctor, who charges $75 for your checkup. What is the total explicit cost of your visit to the doctor? a. $16 b. $75 c. $91 d. None of the above
Monopoly Your pharmaceutical company has developed a gene therapy that addresses a rare life threatening condition. The inverse demand function for this therapy is given as: P=$2,000,000 – 10,000Qd is the annual quantity demanded. While development costs were substantial, your marginal costs are just $20,000 per treatment (one treatment needed). 1 If you set a single price to maximize profits, what quantity will you supply […]
What’s the role of enterprise in the modern economy?
Jake Green estimates the cost of future projects for a large contracting firm. Jake uses precisely the same techniques to estimate the costs of every potential job and formulates bids by adding a standard profit markup. For some companies, to which the firm offers its services, there are no competitors also seeking their business, so Jake’s company is almost certain to get these companies as […]
Hong Kong has a fixed exchange rate policy while Singapore has a managed floating exchange rate policy. Compare their different approaches both as small and open economies in terms of their relative exchange rate stances (with appropriate diagrams) and in warding off externally induced financial crises (such as the Asian financial crisis in 1997).
all of the following are included in GDP except:a.income earned for engineering services.b.income earned by an airline pilot.c.tips earned but not reported by a waitress at an upscale restaurant.d.the purchase of a new automobile by a school.e.the purchase of a new home by a retired couple.
Refer to the above diagrams. Suppose that government undertakes fiscal policy designed to increase aggregate demand from AD 1 to AD 2 and thereby to increase GDP from X to Z . In terms of graph B, which of the following might explain why GDP increasRefer to the above diagrams. Suppose that government undertakes fiscal policy designed to increase aggregate demand from AD1 to AD2 […]
reply with over 150 words, citation and reference How does the financial strength of an organization influence decision making and outcomes? Provide examples that support your rationale.
Write down demand & supply equations for smartphones, include two exogenous variables in each equation. Draw a supply – demand graph for smartphones Use your graph to show how a change in one of your exogenous variables affects the model’s endogenous variables.
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