Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
What price-quantity combination maximizes your firm's profits. Calculate the maximum profits. Is demand elastic, inelastic, or unit elastic at the profit-maximizing price quantity combination?
When we draw an investment demand curve we hold constant all of the following except:
What percentage change in the price of each of the three goods? Using a method similar to the consumer price index, compute the percentage change in the overall price level.
Jeng-Mei Chen, Inc., an upscale Manhattan restaurant, would like to generate a sales forecast based on the assumption that next year sales are a function of current income, advertising, and advertis
The largest component of private investment expenditure is
Define economics of regulation. Explain why economics regulation exists. Explain how economics regulation affects the market of telecommuniciation.
A monopolist can sell 15,000 units at a price of $20 per unit. Lowering price by $1 raises the quantity demanded by 2,000 units. What is the marginal revenue of this price change?
Nimbus Inc., makes brooms and then sells them door to door. (a) Fill in the column of Marginal Products. What pattern do you see? When does diminishing returns set in? (b) A worker costs $8.00 a day
Two firms compete as a Stackelberg duopoly. The demand they face is P = 100 - 3Q. The cost function for each firm is C(Q) = 4Q. The outputs of the two firms are:
Write down the utility function. What is the ideal price index? What is the Laspeyres price index?
When a cold snap hits florida, the price of orange juice rises in super markets through out the country. explain the statement using supply and demand diagrams
Suppose consumer has to choose between the composite good Y (PY=$1 /unit) and gasoline, G. Assume the consumer utility function is: U (G, Y) = and his income is $210/mo.
Explain why the general level of wages is higher in the United States and other industrially advanced countries. What is the single most important factor underlying the long-run increase in average
Suppose that consumer spending is 200, and spending on food, transport and leisure is 60, 20 and 10 respectively. Suppose that after five years consumer spending doubles to 400. How much do you bel
Describe and explain the modern consumption theory. What is investment expenditure? Why is it so important for an economy? Describe the relationship between investment expenditure and interest rate.
Briefly describe the model of aggregate demand and aggregate supply. Which macroeconomic variables does it explain? Which factors determine aggregate demand?
Describe and explain the modern consumption theory. What is investment expenditure? Why is it so important for an economy?
"The short-run elasticity of demand for gasoline is estimated to be about $15.00, but the long-run elasticity is about 0.9. Explain, based on the determinants of elasticity, why the short-run elasti
A health club sells 50 memberships when the monthly price is $60 and 70 memberships when the monthly price is $40. The price elasticity of demand for memberships at this health club is (using the av
State the basic difference between accounting and economic profit. Which profit is more useful far making effective managerial decisions?
Describe how international trade affects our economy. How the concept of comparative advantage was relevant to the trade negotiations? You may use the following scenarios in your discussions. Imagi
Disuss the qualitative effects on the demand for money in the increase in the use of the credit cards
Explain how the wage can adjust to balance the supply and demand for labor while simultaneously equaling the value of the marginal product of labor.
Explain how inflation can have redistributive effects in the economy. Do you think the Federal Reserve over-emphasizes inflation as a policy concern? Why, or why not?
To model the individual's choice of the number of medical goods to consumer, carefully describe two important differences between Frossman's model of health consumption and the standard model of co