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How does the Federal Government finance this deficit spending?(that is, where does it get the money to spend when it runs a deficit?)
Find the optimal price-quantity if the firm is not able to price discriminate. Find the optimal price-quantity if the firm can price discriminate but cannot charge a two part tariff.
Suppose you are part of a research team evaluating a proposal to clean up a hazardous waste site. You are in charge of assessing the incremental benefits which methods would you choose to derive th
Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies? At what production level are scale economies exh
If all firms will only earn a normal profit in the long run, why would any firms bother to develop new products or lower-cost production methods? Explain.
Discuss the concept of a pure public good with a few examples, the Pareto optimality in a perfectly competitive world of two individuals, A and B, and two goods.
Calculate exponential smoothing forecasts for each month and for July. Use a coefficient of 0.5 and assume that the forecast for January was 8. Also evaluate the quality of the exponential smoothing
He returns to that vendor later in the morning to find that the vendor has increased her price to $3.90 per cup. Chad buys a second cup. Which of the following statements is correct?
Suppose the market demand curve for a good passes through the point (quantity demanded = 100, price = $25). If there are five buyers in the market, then?
Using marginal productivity theory, explain how an increase in the minimum wage affects the employment of unskilled workers.
Explain the impact of each of the following upon chartered bank reserves: (1) the Bank of Canada sells government bonds in the open market to private buyers.
Which of the following statements is TRUE regarding the loss in consumer surplus from a tariff? Lost consumer surplus becomes producer and government welfare gain with no inefficiency.
A monopolist faces demand given by: P = 100 - 0.2QD , and has marginal costs given by:MC = 4 + 0.4Q. How much would be produced if this was a perfectly competitive market? What would be the price?
Explain the effect this policy would have on the nation's real risk-free interest rate, nominal interest rates, real and nominal GDP, gross private domestic investment, unemployment rate.
If unregulated competitive markets promote "efficient" patterns of resource use, why has unregulated competition led to such serious over allocation of resources to fishing?
Explain why competitive markets normally lead profit maximizing firms to make choices about resource use that lead to an "efficient" allocation of resources to the market?
Does the country have an inflationary gap or a recessionary gap and what is its magnitude? Explain the effects of an increase in consumer spending on the short-run macroeconomic equilibrium.
Interest costs of $250,000, material costs of $500,000, and pays rent for structures of $250,000. Calculate the corporation's total accounting profit.
What is the real value of output (Q)? Now assume that the Fed increases the money supply by 10% and velocity remains unchanged. By how much would V have to fall to offset the increase in M?
After a long wait, she finally received one offer to purchase her license for $66,000. What is your opinion of the restaurateur's decisions? Would you recommend that she accept the $66,000 offer?
When ATC is calculated at Q=6, it comes out to C(Q=6)=100/6+2+3*6=36.67. Since cost is minimum at Q=6, the ATC is minimized at Q=6. What is the total cost of an output of 500?
Assuming output occurs in whole units, i.e. 1, 2,3,... at what output does the low point of ATC occur and what is the ATC at that output? Show your calculations.
Estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following and show your logic and calculations. How much is your firm's profit or loss at an output
Is the owner of Pat's Pizza Restaurant minimizing cost? Should he rent more ovens and hire fewer workers or rent fewer ovens and hire more workers? Explain.
Explain the relationship between the price elasticity of demand and total revenue. Is the price elasticity of gasoline more elastic over a shorter or a longer period of time?