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Is X an inferior or a normal good? How many units of good X will be purchased when Px=4910, determine the inverse demand function for good x.
During this period, a competitor offered a whopping $52 off their regular $137 price on deluxe garment bags. Calculate the cross price elasticity.
What is the Sharpe ratio of your portfolio? What is the variance of the risk free asset and the variance of the risky asset?
An upward or downward movement along a given demand curve or involves an outward or inward shift in the relevant demand curve for housing. Explain your answers.
The average price was $2.79 per gallon. Based on these numbers, what was the price elasticity of demand for gasoline from May 2010 to May 2011?
Calculate real GDP in each year, and the percentage increase in real GDP from year 1 to year 2 using year 1 as the base year. Next, do the same calculations using the chain-weighting method.
Calculate gross domestic product for the year using (a) the product approach, (b) the expenditure approach, and (c) the income approach.
If this value could be reduced to 50 days, what annual increase in income would your firm realize if the increase in cash could be invested at 7.5 percent?
You can assume any single-peaked preference you want. Characterize the equilibria of the model. Hint: The characterization should be a function of the bliss point of the candidates.
Consequently launched a very successful advertising campaign, aimed at the youth, to turn their preferences towards drinking more coffee. What occurred?
Your argument should use economic theory and empirical evidence, including additional empirical evidence. Identify and highlighting relevant economic theory and concepts. Identify appropriate empirica
However, before taking the job, you accept a surprise offer from a competitor. if you actually earn $2600 during the month, how much producer surplus have you earned? Explain.
How many workers would this firm hire? Hint: be sure that you compare the added benefits and added costs of each worker when the Cobb-Douglas production function is used.
The world market is greater than (P cloth/P machines) in the domestic market. Should it trade? If so, what commodity should it export? Why? Will it gain from trade? How do you know?
Indicate the equilibrium production and consumption point in autarky, using a PPF and a community indifference curve under increasing-opportunity-cost conditions.
What will happen to I equilibrium level of output because of this change in facto prices? What will happen to the relative usage of labor and capital because of the change in factor prices? Explain.
Explain how, with no change in budget size for the firm and with the given factor price ratio, output of the firm can be increased.
The water is identical in the two sizes and John gets no utility from the containers themselves, only from the water. How to define a utility function?
If the price of one hot dog is $3 and the price of one soda is $2, is Dave currently maximizing his utility? If not, how should he reallocate his spending in order to increase his utility?
Compare the consumption levels of workers in both countries. What explains the differences between countries?
Suppose the present price of good X is $25, PY = $50, M = $30,000, and AX = 500 units. What is the own-price elasticity of demand for good X?
Is there any range of production characterized by scale economies? Does the production technology exhibit increasing/decreasing/constant returns to scale?
Do you think the newspaper company trusts you not to get more than one paper? No, they understand the Law of Diminishing Marginal Utility.
Calculate the equilibrium price and quantity in the market for chocolate bars. Show and label the ‘shortage' and ‘surplus' in your graph
How many loans can Dodge City Bank expect to make in the next year? Fully evaluate these regression results, including computation of t-statistics, adjusted R2, and the F-statistic.