Refer to the table below. If the information pertains to the…
Refer to the table below. If the information pertains to the demand curve and the long run average cost curve for an electric company that is a natural monopoly, then what quantity will be produced in this market? Price Quantity Demanded LRAC $12 100 $6.00 $10 200 $5.50 $8 300 $5.33 $7 400 $5.50 $6 500 $6.00
Read DetailsDuring a severe recession, the government issued food stamps…
During a severe recession, the government issued food stamps that could only be used to acquire food to a greater number of families. The budget line graph shows food on the horizontal axis and everything else on the vertical axis. The government expects that issuing the food stamps will cause each family’s budget constraint line to:
Read DetailsA drug company is deciding how much to invest in Research an…
A drug company is deciding how much to invest in Research and Development into finding a cure for diabetes. The table below shows the company’s demand for financial capital for R&D based on its expected rates of return from selling the cure. Every investment provides an additional 4% social return: that is, an investment that pays at least a 5% return to the drug company will create at least a 9% return for society as a whole. Estimated Rate of Return_____________________ Value of R&D Projects That Provide at Least This High a Private Rate of Return to the Drug Company (measured in millions of dollars) 10% $2209% $2288% $2387% $2506% $2645% $2804% $2983% $308 If the opportunity cost of financial capital for the drug company is 7%, the drug company will invest in R&D if it receives only the private benefits of this investment.
Read DetailsJanie works for an accounting firm. Her wage increased from…
Janie works for an accounting firm. Her wage increased from $30 per hour to $40 per hour. She can work up to 50 hours each week. The table below shows her utility from different levels of leisure and income. Before her raise, if Janie decreases her hours of work from 30 to 20 hours per week, the marginal utility gain from having more leisure is: Hours of Leisure Total Utility from Leisure Income Total Utility from Income 0 0 0 0 10 29 300 40 20 54 400 72 30 75 600 96 40 86 800 108 50 92 900 116 1200 120 1500 122 1600 124 2000 125
Read DetailsA freighter carrying a cargo of uranium hexafluoride sank in…
A freighter carrying a cargo of uranium hexafluoride sank in the English Channel in late August 1984. The cargo of uranium hexafluoride weighed 2.249 × 108 kg and was contained in 30 drums, each containing 4.41×107 L of UF6. What is the density (g/mL) of uranium hexafluoride?
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