Strange Coin futures have a price of 1 Strange Coin at 5000…

Strange Coin futures have a price of 1 Strange Coin at 5000 Glimmer for delivery in one month. Cayde-6 just entered a contract to buy 10 Strange Coins from Ikora in one month at this price. If the actual price of a Strange Coin in one month is 7500 Glimmer, how much do Cayde-6 and Ikora each make or lose?

Figure: Market for Cigarettes A highly effective book on qui…

Figure: Market for Cigarettes A highly effective book on quitting smoking has become a best-seller, making it much easier for smokers to quit. As a result, the market demand for cigarettes has shifted.  Using the graph provided, answer the following: Which curve represents the new market demand for cigarettes? With a $1.50 per-unit tax on cigarettes in place, how much of the tax is borne by consumers before and after the shift in demand? What is the change in total government tax revenue due to this demand shift? ​

Princess Peach of the Mushroom Kingdom has decided to centra…

Princess Peach of the Mushroom Kingdom has decided to centrally manage the economy to ensure that resources are allocated “fairly.” A council of advisors determines where power-ups, coins, and extra lives should be distributed, believing they can direct them to the areas of greatest need. However, problems arise—some regions have an abundance of Super Mushrooms but no Fire Flowers, while others have plenty of coins but no 1-Ups. Meanwhile, the kingdom’s fastest runners complain that warp pipes are being placed inefficiently, slowing travel between regions. What fundamental problem of central planning does this scenario best illustrate? ​

Suppose the government is considering two policies to suppor…

Suppose the government is considering two policies to support low-income workers: (1) implementing a binding minimum wage above the equilibrium wage, or (2) providing a wage subsidy to employers for each low-wage worker they hire. From an economic perspective, which of the following statements is most accurate?