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Will more people be able to attend the games? Explain your answer. Will certain teams and events be affected more than others? Provide examples.
Determine whether the federal minimum wage of $7.25 an hour provides enough income for a single full- time worker to escape poverty
If the demand for blueberries increases, what will happen to the size of the consumer and producer surplus?
Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.
Why do most economists oppose attempts to control prices? Why does the government attempt to control prices anyway, in a number of markets?
Does a binding price ceiling cause a shortage or a surplus? Provide an example to support your answer.
Explain how consumer surplus is derived from the difference between the willingness to pay and the market-equilibrium price.
What are consumer surplus and producer surplus? When is a market efficient? What effects do price ceilings have on economic activity?
How is monopolistic competition like competitive markets? How is monopolistic competition like monopoly?
Explain why a monopoly is a price maker but a perfectly competitive firm is a price taker.
What are the necessary conditions for a perfectly competitive market to exist? Why do competitive firms earn zero economic profit in the long run?
How much do monopolies charge, and how much do they produce? What are the problems with monopoly? What are monopolistic competition and oligopoly?
If a one-day pass costs $40 but the two-day pass costs $50, what is the average cost for the two-day pass? What is the marginal cost of the two-day pass?
What role does diminishing marginal product play in determining the ideal mix of labor and capital a firm should use?
How do profits and loss act as signals that guide producers to use resources to make what society wants most? What is equation used to calculate firm's profit?
Do you think this plan will work to raise the response rate on teaching evaluations? What would traditional economic theory predict?
If Danny Ocean plays roulette and wins big, is Danny risk averse or a risk taker? Explain.
You decide to take the $40,000 job. On the basis of this decision, can we tell if you are risk averse or a risk taker? Explain your response.
How is game theory relevant to oligopoly? Does it help to explain monopoly? Give reasons for your response. What is a Nash equilibrium?
How does the status quo bias reduce the potential benefits that consumers might enjoy as the result of a change?
Create an economic model modeled after the expectancy model you can use in buying a new car, the expectancy model can be helpful.
What deposit must be made each month until the man retires so that he can make annual withdrawals of $20000 in terms of today's dollars, over the 15 years.
Discuss what will happen to unemployment using both classical and Keynesian reasoning?
Why would forecasting cost and output be important and how would it serve managers in their decision making?
What is the estimation process? What is the rationale behind it and how would it be different in estimating the cost in estimating the output?