Suppose 100 cars will be oered on the used-car market.Let 30 ofthem be good cars, each worth $8, 000 to a buyer, and let 70 be lemons,each worth only…

nQ1:Suppose 100 cars will be oxefxacx80ered on the used-car market.Let 30 ofthem be good cars, each worth $8,xc2xa0000 to a buyer, and let 70 be lemons,each worth only $2,xc2xa0000 to a buyer.1.1Compute a buyerxe2x80x99s maximum willingness to pay for a car if he or shecannot observe the carxe2x80x99s quality.1.2 Suppose that sellers value lemons at […]

discuss why it is often asserted that that exporters suffer when their home currencies appreciate in real terms against foreign currencies and

discuss why it is often asserted that that exporters suffer when their home currencies appreciate in real terms against foreign currencies and prosper when their home currencies depreciate in real terms

hanges in demand – baby diapers and retirement villages. Other things equal, an increase in the number of buyers for a product or service will…

hanges in demand – baby diapers and retirement villages. Other things equal, an increase in the number of buyers for a product or service will increase demand. Baby diapers and retirement villages are two products designed for different population groups. The U.S. Census Bureau web site, http://www.census.gov/ipc/www/idb/pyramids.html, provides population pyramids (graphs that show the distribution […]

Draw the market, show the shift that will occur in the market, and identify what happens to the equilibrium price and quantity (increase/decrease) in…

Draw the market, show the shift that will occur in the market, and identify what happens to the equilibrium price and quantity (increase/decrease) in the market. Make sure that your graphs are labeled properly. 5. What happens to the equilibrium interest rate and quantity of loanable funds in the market of loanable funds if the budget […]

In this rare, but important market structure, products are non differentiated, there are many suppliers, and no entry barriers to prevent competition….

In this rare, but important market structure, products are non differentiated, there are many suppliers, and no entry barriers to prevent competition. Can you think of a good or service that is produced in perfect competition? Explain.

What will Diane”s total costs be if she sells 2,500 donuts in one week and then goes out of business?

What will Diane”s total costs be if she sells 2,500 donuts in one week and then goes out of business? A) $4,400.00 B) $4,525.00 C) $209.62 D) $125.00 E) There is not enough information to answer the question. 14. Refer to Situation 8-l. What will Diane”s average variable costs be if she sells 2,500 donuts? […]

Explain the concept of Consumer Equilibrium. How does it relate to utility maximization?

Explain the concept of Consumer Equilibrium.  How does it relate to utility maximization?  Draw a graph and show where consumer equilibrium occurs.  Write down the equation that holds at the consumer equilibrium.

What is the exact price where the market is at equilibrium.

What is the exact price where the market is at equilibrium. the highest price at which you have consumers willing to pay for something meets the lowest price at which producers are willing to make it available

Routines are an important explanatory element of evolutionary economics. Nelson and Winter note that the roles played by routines include:

Routines are an important explanatory element of evolutionary economics. Nelson and Winter note that the roles played by routines include:a.     Routines are one of the reasons firms can be expected to act in the future much as they have in the pastb.    Routines are important to the storing and accessing of knowledge in contrast to the neoclassical […]

Continuing with the story of Wyoff Resources from the previous question. The cost of extraction depends on the amount remaining in the reservoir.

Continuing with the story of Wyoff Resources from the previous question…The cost of extraction depends on the amount remaining in the reservoir. The cost of extracting Y t units of oil in period t is C(Yt | St)=Yt2/St2 where S t is the amount in the reservoir at the beginning of period t.The government of […]