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Explain the concept of opportunity cost with example. Discuss what would be your opportunity cost of taking on-line classes to obtain a degree at your University as compared to taking the classes a
Two firms sell identical products, compete by choosing the price at which they sell their product, and choose their prices at the same time in the market for widgets.
Suppose you have just purchased a municipal bond with a $10,000 par value for $9,500. You purchased it instantly after the previous owner received a semiannual interest payment. The bond rate is 6.6
Two firms, A and B, which is having a marginal cost of $50 (each), form an oligopoly whose market demand is P = 650? 10Q. what quantity wills they produce and what price will they charge if
The market inverse demand curve is P = 90 - Q, where Q is the total market output comprised of Firm 1's output, q1, and Firm 2's output, q2.
Assume that the inverse market demand for pumpkins is given by the P = $10 ? 0.05Q. Pumpkins can be developed by anybody at a constant marginal cost of $1.
The market inverse demand curve is P = 20 - 2(q1+ q2), where q1 and q2 are Firm 1's and Firm 2's output measured in hundreds of units in the Stackelberg competition.
Suppose you borrow the $25,000 from your local credit union at the 12 percent compounded monthly. You repay the loan by making equal monthly payments over the next four years. Discuss how m
A large company in the publishing and communication industry has quantified the relationship among the price of one of its products and the demand for this product as the Price = 150- 0.01 x Demand
Given the short-run cost curve in the chart above for a firm in a perfectly competitive market, identify the firm's best output level and total profits when the market price is: a) $18, b) $13 c) $5
Italian energy concern Eni SpA agreed to annually purchase the two billion cubic meters of LNG from the Nigeria LNG Ltd. for resale to the United States.
Discuss how would you describe the macroeconomic "worldview" of David Ricardo, Karl Marx, and John Stuart Mill?
If Jim is putting money into a savings account. He puts in $100 monthly. At the end of each year he gets a $500 bonus from work that he also deposits.
If a minimum wage law is passed that needs the monopolist to pay at least $5.50 per hour, discuss how will these affect employments?
What is the probability that exactly 7 people from this sample are unemployed by using the normal approximation to the binomial distribution?
Describe what you would rather maximize your total or marginal utility? Discuss how do you think you would estimate when to stop consuming if you were at an all you can eat buffet?
Explain what part of the business cycle is the U. S. economy currently in? Estimate your answer by using the three economic indicators.
Assume that the inventories fall by $2 billion, consumption increases by the $8 billion, unemployment insurance payments decline by $4 billion, and imports rise by the $1 billion. By how mu
The Commerce Department revised its estimation of real GDP to $3.877 trillion, up from the earlier estimate of $3.835 trillion. Before adjusting for inflation, GDP was $4.603 trillion, up from $4.52
Micromedia offer computer training seminars on a variety of topics, where each student works at a personal computer, practicing the particular activity that the trainer is presenting.
Consequently, bridge traffic decreased 40 percent and revenues rose 170 percent in 2008 tolls were raised on Bridge X. Calculate the price elasticity of the demand for access to Bridge X.
Sketch the Lorenz curves for the urban and rural populations for 1998 and 2010. Be sure to carefully label your axes. Explain what do they tell you about changes in inequality over time in the Mexico?
Why would Kenyan government take 10% tax off the employee's paycheck because it is given the importance of the M-Pesa to the rising economic growth of the Kenyan economy?
A sum of money Q will be received six years from now. The present worth of Q is $60 at 5% annual interest. What would be the value of Q in 10 years at the same interest rate?
A consultant has told the city that traffic is expected to grow at a continuous rate of 4% per year. Traffic at a certain intersection is 2000 cars per day. Discuss how much traffic will be expecte