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He also made the econometrics of travel demand fully acceptable to mainline econometricians. Discuss the household demand for mass transit for a city.
Explain what is a price ceiling and a price floor? How do they affect consumer and producer surplus? What will happen in this market if the government imposes?
If you have 100 feet of General Use Life safety rope, how many feet would you expect this rope to stretch with 10% of its maximum rated load?
With the help of a diagram, explain why prices of pharmaceutical drugs supplied by a monopoly are likely to be higher than in market which are more competitive.
If the government required a monopoly to produce like a perfectly competitive firm, would the firm make a profit or experience losses? Explain your answer.
Consider the following budget line for a combination of goods X and Y: 6x + 5Y = 100 in a two-dimensional space. What is the slope of this budget line?
Explain why the numbers make sense-that is why does a state gain if the other state provides health insurance while it does not.
How much should be Federal Reserve's target federal funds rate? What are the goals of monetary policy? Which goal is the most important or the principal goal?
What is the expected value of the lottery? What is the maximum amount a risk-neutral person would pay to play the lottery?
What should be the role of business in local communities? What CSR issues do supply chains create for global businesses?
What are the rights of corporations to employees? What are corporations' responsibilities to employees? What rights do employees have?
What is the relationship between business and society? What is corporate social responsibility and what are the arguments for and against it?
As a result, retailers would all be better off if they all were closed on Thanksgiving. What does this Back Friday experience illustrate?
How would this change impact the demand for tablet cases? Explain your answer and reconstruct the graph developed in question one to show this change.
Explain three factors that can cause a shift in the demand curve. What is the distinction between the income effect and substitution effect?
What economic factors helped give and maintain Facebook's monopoly power? Consider Facebook's output as data and information, and focus on production and costs.
Lowe's says it will close 34 underperforming stores. Discuss the company plans to move its Canadian information technology platform to the U.S.
Apple and Samsung each has constant marginal cost of 5 for each unit of phone. Suppose they set their prices simultaneously. Find the symmetric Nash equilibrium
There is only one bank that all the people deposit their money in and it holds 12% of the deposits as reserves. What is the money multiplier in this economy?
What are the main reasons for economists to predict that the country can go into recession next year?
Since the year 2000, global trade has doubled due to reduced costs in communication and transportation 21 million jobs in U.S. depend on imports.
Suppose that the (inverse) demand for a good is given by the equation p =100 - 4q. Compute the consumer surplus corresponding to a price of 80.
What is Veblen's Theory also known as Theory of Leisure Class? What are societal impacts of tragedy of the commons, and how can these consequences be prevented?
You are roling a dice and you will get $100 if it gets 6 and you will have to pay $20 in case. What is a mathematical expectation of the result of this game?
What is/are the significance of the issue(s) economically? How will the issue affect the economy ten to twenty years from now?