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$6 for the third unit, and so on. Draw the marginal-benefit and marginal cost curves and show the optimum level of pollution abatement.
What is the marginal product of the third worker? Based on your knowledge of marginal analysis, how many workers should you hire? Explain you answer.
Hold some excess reserves, and so begin to hold 25 percent of deposits in the form of reserves. Other things the same, this action will cause the money supply to what?
The people of Aquilonia deposited half of their currency into the banking system. If banks do not hold excess reserves, what is Aquilonia's money supply now?
Its total cost would be $300, and if it produced 500 units per day, its total cost would be $275. What are the firm's ATC per unit at these three levels of production?
Explain an inverse relationship between short-run production and cost functions. Draw various short-run cost curves(i.e. AVC,MC, and ATC)and explain why their shapes are U-shaped.
Wine usually pay the same percentage of the bottle price as diners who order a $100 bottle. why, when the same efforts must be made to uncork and pour both bottles?
In 2008/2009, the United States was in a recession, and reported GDP was shrinking. Knowing not everything is counted, do you think a recession could "look" worse than what it is, due to how GDP is
What impact do you think this plan will have on aggregate demand and supply in the United States over the next 10 years? The answer should have 2 paragraphs.
If I remains constant, what will happen to the equilbrium level of Nurd's domestic product (Y)? What will be the new levels of C and S? How does your answers to prt f differ from ou answer to part e
Assuming zero marginal and Zero fixed costs, what are the firms' best response function, that is best price of firm1 given price of firm2, and best price of firm2 given price of firm1.
Are recessions a necessary fact of macroeconomic life? If not, what would it take to eliminate them? If they are unavoidable, what types of business can benefit from them?
What kind of market structure does trash collection represent? If the city decided to step in and control trash collection for my town, what pricing options might it choose?
$500 in a checking account (Jackie never carries her checkbook, however, because she has a debit card that is connected to the checking account.) What is the dollar value of Jackie's assets that are
Use the concepts of the income and substitution effect to predict whether Sabrina will work more hours, fewer hours, or the same number of hours.
Consumer spending, two-thirds of economic activity, plummeted at a 3.1% rate-the steepest fall since 1980. The overall decline was the worst since the 2001 recession. By what percent did GDP decline
If the town does not have strict anti-trust laws, would it be profitable for one firm to buy out all the others? What problems might arise if only one firm controlled trash collection for my entire
Develop a bargaining situation from which you would conclude that access to market-related information does in fact affect the outcomes. Using specific examples.
Show that if the food stamps could be legally re-sold, the welfare of the household would be increased. Give one reason why food stamps should not be re-sold.
Discuss the three ranges of the aggregate supply (AS) curve. What could cause the AS curve to shift to the left? What impact would a leftward shift of the AS curve have on the economy?
Explain how absolute and comparative advantage were used in your simulation. Describe the influences affecting foreign exchange rates.
What is OPEC's optimal level of production? What is the prevailing price of oil at this level?Many experts contend that maximizing short-run profit is counterproductive for OPEC in the long run.
The applicable marginal income tax rate for the firm is 40%. Assume that the asset qualifies for a seven year MACRS property class. Determine the NPW of this project at MARR= 14%.
Suppose a household receives a grant of $500 of food stamps per month. How will this household's budget line be affected?
Why does the aggegate demand (AD) curve slope downward? What could cause the AD curve to shift to the right? What impact would a rightward shift of the AD curve have on the economy?