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- 111:23 Friday Assignment for November 8.... Friday Assignment for October 8 A village has six residents, each of whom has accumulated savings of $100. Each villager can use this money either to by a government bond that pays 15% interest per year or to buy a year-old llama, send it on to the commons to graze, and sell it after one year. The price the villager gets for the 2-year-old llama depends on the quality of the fleece it grows while grazing on the commons. That in turn depends on the animal's access to grazing, which depends on the number of llamas sent to the commons, as shown in the following table: Number of llamas on Price per 2-year-old llama (S) the commons 112 2 118 116 4. 114 5 112 6 109 The villages make their investment decision one after another and their decisionss or public. 1. If each villager decides individually how to invest, how many llamas will be sent to the commons, and what will be the resulting village income? 2. What is the socially optimal number of…7. (Ad Valorem) What is the effect of an ad valorem tax of v (the share of the price that goes to the government) on a competitive firm's profit-maximizing output given the marketprice is unaffected?
- The board of your company discusses a possible future price increase of 20% for one of the products. The argument against the increase is a decrease in sales due to the increased price. With how many units (pieces), sales can fall, without changing the total gross margin, with the following data for your company.Current sales price per piece SEK 600Variable costs per piece SEK 450Current sales volume 10,000 pieces4.17 ) (F/P,i,3) * (F/P,i,5) = ------------------------------------- Select one: a. (F/P,i,8) b. (F/P,i,12) c. (F/P,i,4) d. (F/P,i,15)
- A2) Economics Assuming that the government intends to adopt a ride-sharing scheme to solve the problem of rush hour traffic congestion, the ride-sharing scheme is therefore evaluated. Known: B0 = 0, Bt = 60, t = 1, 2,… (for a perpetual gain); C0 = 1,000, Ct = 0, t = 1, 2,…. Among them, t represents the year, and Bi and Ci are divided into the benefit and cost of the i-th year. Assuming that inflation and government taxation are not considered, if the discount rate is 5%, try to use the present value criterion, the internal rate of return and the profit-to-price ratio method to evaluate whether this multiplication plan is feasible?5.(a) What important policy debates provide the background for Malthus’ work? (b) Explain Malthus’ population theory. What policy implications did Malthus draw from this analysis?3. (True, False, or Uncertain) The satisficing procedure is unlikely to perform well in an environment where the decision maker is learning about the options as she samples them.
- (1d) To measure a real increase in wages, the changes would have to be averaged. the wages would have to be adjusted for inflation overtime. (my guess) the increase would have to be compared to the growth in GDP. (1e) Jerusha lives in a country with a large amount of protection under the law for conducting business or bringing her ideas to the market with patten production. Because of the economic conditions what will Jerusha most likely do with her rainwater collecting invention? Keep her ideas in a notebook and sell them to the highest bidder. Find a country where she can develop her idea away from strong patent laws. Develop her invention and bring it to market with ease and minimal cost. (my guess) (1f) Over the past 50 years, which component of consumer spending has steadily gained as a percentage of the total? durable goods nondurable goods services (my guess) (1g) The distinction between real GDP and nominal GDP is important to determine which of the following? The…21. (Advanced Material) If airlines found that the number of no-shows starts to increase, then its policy for optimal overbooking would tend to: a. make them reduce the amount of overbooking. b. cause them to increase the amount of overbooking. c. let them keep the same amount of overbooking. ANS: B PROBLEM 1. Consolidated Salt Company sells table salt to both retail grocery chains and commercial users (e.g., bakeries, snack food makers, etc.). The demand function for each of these markets is: Retail grocery chains P1 = 180 - 8Q1 Commercial users P2 = 100 - 4Q2 where P1 and P2 are the prices charged and Q1 and Q2 are the quantities sold in the respective markets. Consolidated's total cost function (which includes a "normal" return to the owners) for salt is: TC = 50 + 20(Q1 + Q2) (a) Determine Consolidated' s total profit function. (b) Assuming that Consolidated is effectively able to Icharge different prices in the two markets, what are Ithe profit-maximizing price and output levels…U.S. utility-scale electricity generation by source, amount, and share of total in 20211 Preliminary data as of February 2022 Energy source Billion kWh Share of total Total - all sources 4,116 Fossil fuels (total) 2,504 60.8% Natural gas 1,575 38.3% Coal 899 21.8% Petroleum (total) 19 0.5% Petroleum liquids 11 0.3% Petroleum coke 0.2% Other gases 11 0.3% Nuclear 778 18.9% Renewables (total) 826 20.1% Wind 380 9.2% Hydropower 260 6.3% Solar (total) 115 2.8% Photovoltaic 112 2.8% Solar thermal 0.1% Based on the table above, electricity generated by resources other than fossil fuels is closest to Source of data: https://www.eia.gov/tools/faqs/faq.-php?id%3D427&t3D3 60% O 20% O 40% O 30%