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  1. Hi Thanks for the explanations. I worked through the example and it seems question number 2 is incorrect

    I don't have an idea but a feedback and not sure where to include it. After watching Office Hours: Calculating Monopoly Profit I went to answer the 3 questions you gave in this video it seems question number 2 is incorrect.

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    • Solow Model

      Examples of all the different stages the Solow model is used to calculate, in addition to GDP and steady state.

      2 votes
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      • What role did private savings and investment have in making capital funding available for innovators and business enterprises during the Ind

        What conditoins provided a favorable environment for private savings and investment to take place at a substantial rate, making more capital funding available for innovators, entrepreneurs, and business projects in the early Industrial Revolution?

        1 vote
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        • Liquidity Trap

          Is the USA in one? What are the solutions?

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          • Prof Peate, So a monopoly firm is a price fixer. It isn't what the left fears about a monopoly; limited only by good will which greedy peopl

            Prof Peate, So a monopoly firm is a price fixer. It isn't what the left fears about a monopoly; limited only by good will which greedy people don’t have much of. In reality there is always something in the market place that can sort of compete. Is there an economic term for the “sort of compete-ness”? Shouldn't that term be in the math for how easily other things can substitute? Time between haircuts competes somewhat with the cost of cheese burgers but what competes with a particular lithium polymer battery that only one company sells? There may be many sources…

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            • Calculating equilibrium price and shortages?

              Can you go over the example on coats from this video: "Price Ceilings: Lines and Search Costs" ? All three of the questions would be helpful (calculating equilibrium, shortages, and waiting in line).

              11 votes
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              • External cost vs. external benefit

                In the practice questions for the External Benefit video, you give us two scenarios. I think I understand how to calculate the size of the externality but can you go over how to decide whether a tax or subsidy is best to address each scenario?

                I saw a similar question on a quiz I took recently in class and want to make sure I have this down before my final.

                2 votes
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                • Please go over calculating average cost

                  In your microeconomics course, there is a video about maximizing profit and the average cost curve. I'm not sure I understand how to answer this question -

                  Given the cost function for Simon, a housepainter in a competitive local market, below, answer the questions that follow. (You may want to calculate average cost.) What is the minimum price per room at which Simon would be earning positive economic profit?

                  Hope you can help!

                  2 votes
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                  • Question on elasticity of demand for apartments.

                    Hi! I'm confused by this question, which is from the "Calculating the Elasticity of Demand" video:
                    https://www.youtube.com/watch?v=lrGiZ7aTlQo

                    In your college town, real estate developers are building thousands of new student-friendly apartments close to campus. If you want to pay the lowest rent possible, should you hope that demand for apartments is elastic or inelastic?

                    Can you explain how think through this problem?

                    6 votes
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