If each unit of capital lasts an average of 25 years, then for an economy with a capital stock worth 5 times the annual GDP, approximately what percentage of output must be set aside to replace depreciation?

Suppose there are 1000 identical wheat farmers. For each, TC = 10 + q2. Derive the market supply curve

What will be an ideal response?

Suppose Cournot duopolist firms operate with each having a cost of 30qi (i = 1,2 ) so that each firm's marginal cost is 30. The inverse market demand curve is P = 120 - Q where Q = q1 + q2. At the Nash-Cournot equilibrium, the market price, P, is

A) 30. B) 45. C) 60. D) 90.