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Suppose that firms are NOT owned by consumers. Let s denote the size of the per-unit subsidy/tax given to the firms. Let positive values of s denote subsidies, and negative values of s denote tax
Consider an economy in which a monopolistic firm serves two identical, but separate markets, called A and B. The aggregate inverse demand in each market is given by 1000−q. The cost fu
Consider a market in which aggregate demand is given by 1000−10p, and aggregate supply is given by 10p, where p denotes the market price. What is the maximum amount of revenue that the gove
Consider the problem of a competitive firm which has fixed costs of $1000, semi-fixed-costs of $1000, and variable costs given by q^2. What is the maximum market price at which the firm decides t
A clinic has $1 million in revenues and $950,000 in costs. What is its operating margin? If the clinic invested $400,000. What is the return on investment and is it adequate.
Suppose Bill is on a low-carbohydrate diet. He can eat only three foods: Rice Krispies, cottage cheese, and popcorn. The marginal utilities for each food are tabulated below. Bill is allowed only 167
For the most recent seven years, the U.S. Department of Education reported the following number of bachelor's degrees awarded in computer science: 4,033; 5,652; 6,407; 7,201; 8,719; 11,154; 15,121. Wh
Consider a market in which consumption of the good being traded generates a positive externality. There are 100 identical consumers, each with a utility function given by 1/2√q+m+√G,
Consider an oligopolistic market with two firms. Each of them produces using a cost function given by c(q)=q2. The aggregate demand in the market is given by 1000−p. Suppose that, in o
Consider a market in which consumption of the good being traded generates a positive externality. There are 100 identical consumers, each with a utility function given by 1/2 √q+m+√G,
The Law of Large Numbers explains why it is unlikely that the actuarially fair premium for an insurance policy will be the same for a small start-up firm as it will be for a large employer such as a u
Assume that the following data describe the condition of the banking system: Total reserves $200 billion Transactions deposits $800 billion Cash held by public $400 billion Reserve
Which statement best describes the economics of Caribbean South America? A. Venezuela benefits from oil resources while other nations rely on cash crops. B. The entire region largely depends
If Alisha Maintenance manufacturing has: total maintenance cost of $2,785,000 total fixed maintenance cost of $310,000 total variable maintenance cost of $2,475,000 total mai
Suppose a random sample of size 40 is selected from a population with = 9. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor
According to the Sleep Foundation, the average night's sleep is 6.8 hours. Assume the standard deviation is .7 hours and that the probability distribution is normal. a. What is the probability th
What would be the present value of an item that has a salvage value of $25,000 at the end of four years? Assume a discount rate of 3.8% for an end-of-year factor. $25,950 $24,085 $20,
what aspects of your decison-making process fit the description of a rational choice? did you consider costs and benifits? did you pay attention to both monentary and non-monetary factors? did yo
Which of these is most likely favored by both management and labor? A. An increase in wages B. Cutbacks in health coverage due to rising health care costs C. Establishment of a profit s
Assume that a $1,000 bond issued in 2012 pays $100 in interest each year. What is the current yield on the bond if it can be purchased for (a) $1,200? Yield on $1,200 bond is = ?% (b) $1,0
The 2003 Statistical Abstract of the United States reported the percentage of people 18 years of age and older who smoke. Suppose that a study designed to collect new data on smokers and nonsmokers us
Consumption of alcoholic beverages by young women of drinking age has been increasing in the United Kingdom, the United States, and Europe. Data (annual consumption in liters) consistent with the find
For borrowers with good credit scores, the mean debt for revolving and installment accounts is $15,015 (BusinessWeek, March 20, 2006). Assume the standard deviation is $3,730 and that debt amounts are
An automobile company is building a new factory in your town. What may be a positive externality of this event? A. Noise produced by the workers and factory machines. B. Better schools from
People are more likely to clean up waste in their homes than at a community park because.. A. people expect the community park to be dirty. B. hiring a person to clean the home is expensive.