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Author Archives: Anonymous

Larry purchases a set of pens for $10, and his consumer surp…

Larry purchases a set of pens for $10, and his consumer surplus is $1. How much is Larry willing to pay for the set of pens?

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Figure 5-5 Refer to Figure 5-5. If the price decreased from…

Figure 5-5 Refer to Figure 5-5. If the price decreased from $36 to $12, total revenue would

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Figure 8-2 The vertical distance between points A and B repr…

Figure 8-2 The vertical distance between points A and B represents a tax in the market. ​ ​ ​ ​ ​Refer to Figure 8-2. The loss of producer surplus associated with some sellers dropping out of the market as a result of the tax is

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Figure 8-3 The vertical distance between points A and B repr…

Figure 8-3 The vertical distance between points A and B represents a tax in the market. Refer to Figure 8-3. The deadweight loss associated with this tax amounts to

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The government patent for new pharmaceutical drugs may not b…

The government patent for new pharmaceutical drugs may not be an efficient approach to internalize the externality because 

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Consider an imaginary country of Farma with a population of…

Consider an imaginary country of Farma with a population of 10,000 people. Suppose that a serious disease affects 6% of the population. The treatment costs $7,500 per patient. Given that all citizens are risk-averse, how much is likely to be their insurance payment? 

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Table 7-9 ​ Seller Opportunity Cost for Providing 10 Pia…

Table 7-9 ​ Seller Opportunity Cost for Providing 10 Piano Lessons (Dollars) Marcia 200 Jan 250 Cindy 350 Greg 400 Peter 700 Bobby 800 ​ ​ Refer to Table 7-9. The equilibrium market price for 10 piano lessons is $400. What is the total producer surplus in the market?

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How did ‘Cool Jazz’ function as a form of resistance accordi…

How did ‘Cool Jazz’ function as a form of resistance according to the author?

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What does the author identify as the central ‘paradox’ of th…

What does the author identify as the central ‘paradox’ of the 1950s?

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What was the primary critique offered by William Whyte in *T…

What was the primary critique offered by William Whyte in *The Organization Man*? 

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