Hugh, Frank, and Luis are the only three buyers of gold in a small mining town. Their inverse demand functions for gold are as follows: Hugh: p = 288-96QH Frank:p 96 – 32QF %3D - Luis: p = 12- 4QL, where QH. QF and QL are the quantities (in ounces) demanded by Hugh, Frank, and Luis, respectively. Suppose the price of an ounce of gold is p-$3. The total ounces of gold demanded in this market is demanded of gold in this market is 5.33 ounces. Then the market price of an ounce of gold must be (numeric). (Round to the closest integer). (numeric). Suppose the quantity Blank # 1 Blank # 2

You expect to receive bonus of $10000 after 1 years of job. Calculate the present value if the discount rate is 2%.

A79. Which of the following is the most likely consequence of implementing the ‘Unified Payments Interface (UPI)’? (a) Mobile wallets will not be necessary for online payments. (b) Digital currency will totally replace the physical currency in about two decades. (c) FDI inflows will drastically increase. (d) Direct transfer of subsidies to poor people will become very effective.

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3 Calculate the income taxes that a person has to pay considering the table below- If a person's income is $6,500, how much does he pay in taxes? If a person's income is $13,500, how much does she pay in taxes? (a) (b) Taxable Up to $5,000 $5,001-$10,000 $10,001-$15,000 Income Taxes 10% of taxable income 14% of taxable income 16% of taxable income

(8) a.) (4) The United States Postal Service (USPS) charged $0.58 per stamp in 2022. They allow stamps.com to sell a sheet of twenty stamps with personalized photos for $1.20 per stamp. Stamps.com keeps the extra beyond the $0.58 it pays the USPS. If stamps.com is acting as a profit maximizing monopolist, what is their Lerner Index and what is the price elasticity of demand for a customized stamp? b.) (4) Suppose a movie theater determines that the elasticity of demand for movie tickets is -2.0 for senior citizens and –1.5 for adults under age 65, and the marginal cost is $4 per consumer. Use the Lerner index to determine the price senior citizens should be charged and the price adults under age 65 should be charged in order to maximize profits.

Price of X = $2 Income $24 = Price of Y=$4 Qx TUX MUX MUx/Px Qy TUY MUY MUy/Py 1 24 24 2 46 24 24 12 1 40 040 10 2 72 3 20 20 3 100 4 A 9 4 5 dings 5 100 16 5 16 4 6 114 6 144 es The correct value for the blank labeled A is

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