A 65-year-old male with a history of hypertension and smokin…
A 65-year-old male with a history of hypertension and smoking presents to the emergency department with a sudden onset of chest pain that has been worsening over the past 24 hours. The pain is persistent, radiating to his left arm, and is not relieved by rest or nitroglycerin. His ECG shows ST-segment depression and T-wave inversion in multiple leads, and his troponin levels are elevated. Based on these findings, which of the following is the most appropriate diagnosis?
Read DetailsInformation for questions 9-15 The market for paintings (a g…
Information for questions 9-15 The market for paintings (a good with external economies of scale) is shown in the following figure. Note that one horizontal grid space is 20 paintings, and one vertical grid space is $2. Costs The only countries that can make paintings are France and Italy, and their Average Cost curves are shown, labeled ACFR and ACIT, respectively. Demand Two possible demand curves for paintings in France (labeled DFR,1 and DFR,2) are shown. There is no demand at all for paintings in Italy. The world demand for paintings is labeled DWORLD. Initially, all countries of the world are in autarky, therefore: 1) France produces paintings for its domestic market only; 2) Italy has no reason to produce paintings, therefore does not do so; and 3) the rest of the world does not have access to paintings. For the numerical questions, only the exact answers are accepted. Answers can be made exact with the usual convention: if two lines seem to intersect at a grid point, assume that they do so exactly. For example, line DFR,2 and line ACIT intersect exactly at p= 14, and q= 500. Use a ruler if you need to! If a numerical question cannot be answered with the information given, enter 0. Suppose that the Italian industry cannot get started, even though it has lower costs than the French industry at all quantities. The Italian government argues that this situation can be reversed with a temporary subsidy of the full cost of production of paintings into Italy. This would allow Italian producers to start up, and eventually to dominate the world market, at which time the subsidy can be eliminated. This argument is an example of:
Read DetailsInformation for questions 23-25 Consider a monopolistic comp…
Information for questions 23-25 Consider a monopolistic competitive market of a differentiated good, with identical firms. The demand for a single firm is given by p=900-1.5q (where p is the price, and q is the quantity). Note that this is linear demand, that is, p is a straight-line function of q. The total cost for each firm to produce quantity q is Cost=100+30q. That is, the firm has a fixed cost of 100 and a (constant) marginal cost of 30. Total market sales of this good are 21,840 units. For this group, only the exact answer is accepted, so double check your calculations. Suppose the answer to question 23 was 455 (this is not the correct answer). That is, each firm produces and sells 455 units. How many varieties of the differentiated good will be sold in this market?
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