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Prove that for the demand function given above price elasticity of the demand equals to one in the middle of the demand curve, is greater than one at higher prices, and is less than one at lower pri
Identify the major differences between federal government outlays and spending by state and local governments. What is the difference between the marginal tax rate and the average tax rate?
A shift of the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case?
Calculate the equilibrium interest rate by setting the demand for central bank money equal to the supply of central bank money.
Is changing the organization's domain a feasible strategy for coping with a threatening environment? Can you think of an organization in the recent news that has changed its domain? Explain.
"In order to maximize profits, it is essential that we operate at the minimum point of our ATC curve". If you were the CEO of the automaker, would you praise or chastise the manager?
Draw the economys production possibilities before and after a natural disaster that lowers the banana harvest but does not affect anchovies.
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.
What is the marginal revenue from selling another book for the author? How does it compare to the marginal revenue of selling another book for the publisher? Briefly explain.
What was Microsoft's market share of Intel-compatible PC operating systems? Of all operating systems, including those of Apple computers? What evidence did the court cite in claiming that Microsoft
Derive the average fixed cost, average variable cost, average total cost, and marginal cost schedules of the firm. (b) Plot all the schedules of part (a).
When reforms were implemented, prices were deregulated and the price of bread rose dramatically. As a result, the quantity of bread demanded fell and the quantity of bread supplied rose sharply.
Now assume the discount rate changes to 5.5%. What "rule of thumb" ratio between land value and annual rental income would you expect? Calculate.
Suppose labor supply is given by w=10+2Ls, where w denotes the wage. Labor demand is given by w= 100-Ld. Calculate the equilibrium labor quantity and the corresponding wage.
Derive the new equation for the aggregate demand curve. Compute the new amount of aggregate demand when the price level equals 2.0, 1.25, 1.0, 0.8, and 0.5. Graph the new aggregate demand curve.
A monopoly has the cost function, TC = 1/3Q^3 - 5Q^2 + 23Q + 25, where TC is the total cost and Q is the output. What is the profit-maximizing level of output, if the market demand is given as Q =
The articles of incorporation nor the corporate by laws authorized this practice. Would the corporation likely have the power to engage in this activity? Explain.
Calculate and compare the profit under each flight. (b) is asking should Airway Express continue providing the flight between Los Angeles and New York? Even Airway Express decides not to fly.
Derive the total fixed cost and total variable cost schedules of the firm, and from them derive the average fixed cost, average variable cost, average total cost, and marginal cost schedules of the
Explain the underlying facts that support free trade and give an example of a good that you purchased recently that is based on resource differences.
However, lower interest rates spark more lending for business growth, home and auto purchases, etc. How has economic policy affected the lending institutions today? If inflation rises how will it af
The quantity of gadgets sold per week. The firm's marginal costs are given by the equation MC = 16Q. When the monopolists maximizes profits the price elasticity of demand for widgets is?
If Argus Corporation produces 8,000 vacuum cleaners per month, what is the estimated average variable cost? Marginal cost? Total variable cost? Total cost?
What is the demand schedule for Belgium cocoa beans now that U.S. consumers can also buy them? Price of Belgium cocoa beans Quantity of Belgium cocoa beans demanded Quantity.
The future direction of the macroeconomy. What websites can help gain a better understanding of where the economy is heading in the next 12 months?