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What are the most significant challenges which economists try to address? What is the role of government in the market based economy? Do the laws of economics still work today?
Derive the Marshalian demand functions and the indirect utility function for the following utility function:u(x1,x2,x3) x11/6 x21/6 x31/6 x1 ≥ 0x2 ≥ 0x3 ≥ 0
Assume the objective is to maintain purchasing power stable. Will utility be maximized.
What was the Neolithic Revolution. Give explanation carefully what essential changes caused this "Revolution" and what essential changes in property rights accompanied it.
Compute the consumer surplus at the equilibrium price. Compute the producer surplus at the equilibrium price. government imposes a tax of $8 per each pound sold, paid by the consumers. In this case,
Name the flows and compute the Aggregate expenditure and Aggregate Income and GDP. Elucidate among their relationships.
What is the difference between contractionary and expansionary monetary policy? What is the intention of each policy under a depression, recession, or robust economy?
Mr. Michael Gordon, Vice President of the operations, asked Controller William Cooper, the Sales Manager Charles Myers, and Dan Tucker the Production Manager to meet with him to discuss the amount o
Calculate and interpret the two cost variances. How are the variances related?
How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absorbed by seller.
Write an equation for the firm’s total cost function. Write an equation for firm’s total revenue function (in terms of Q).
Draw supply/demand diagram of the US Treasury bond market to illustrate the effects on it of the developments cited in part A. (Note: you do not have to include the exact numerical price before and
Using a graph of the compensated and uncompensated demand curves, show how the magnitudes of the CV, EV, and CS will be related to each other when there is a ceteris paribus increase in the price of
A brewery produces two types of beer, stout and IPA. Each batch of stout sells for $60 per unit while every batch of IPA sells for $108.
Suppose that a country can manufacture just two things: goods and services. Suppose that over a given period it could produce any of the subsequent combinations.
Use the IS/LM model (including the goods and asset market graphs when appropriate) and Foreign exchange graph to fully explain the effects of each country’s policy on dollar/Yuan exchange rate
The demand for and supply of crude oil from Alberta oil sands are given by P = 120 - 0:5QD and P = 1:5QS + 10. Although these equations express the private marginal benefits and private marginal costs
How does price elasticity of demand affect how much of a tax is passed on to the consumer and how much is absorbed by the seller. Show the effect with graphs.
Draw a reasonable production possibilities frontier for the economy. Elucidate why you drew it as you did.
Use concepts of marginal cost and marginal revenue to derive an optimal capital budget for Company X, which has identified seven probable investment projects and determined its cost of capital as gi
The Federal government has decided to directly offer a new advantage to citizens but to fund this new program, they have decided to enforce an excise tax on employers of $t per hour of hired work.
Company Case Study and Industry Analysis, Market Demand & Supply Analysis and Industry Concentration analysis.
Consider the following equation relating percent share of the vote that the incumbent candidate gets in an election to campaign spending in an election cycle.
Assume that Betsy’s utility function is given by equation U=Y0.3 where Y is measured in thousands of dollars. Betsy’s current job pays her $20,000 (Y=20) per year and she can earn this a
Estimate the unemployment trend equation by deseasonalizing the data. Interpret the statistical significance of your regression results at 5% level of significance.