Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
How many workers are needed to produce this output of cakes and shirts? What percentage of the 100 worker labour force is unemployed?
Illustrate graphically how this impacts the aggregate PPF and compute the three new sets of coordinates.
In a new diagram draw the PPF for each individual. Draw the new PPF for the whole economy, labelling the intercepts and kink point coordinates.
If they decide to specialize in the tasks, who should cut the grass and who should wash cars?
What is the opportunity cost of one hour of leisure for you? What is the opportunity cost of one hour of leisure for your partner?
What percentage of average growth per worker is explained by growth in capital, and what percentage by productivity growth?
Why might price collusion occur in oligopolistic industries? Assess the economic desirability of collusive pricing. What are the main obstacles to collusion?
Why do oligopolies exist? List five or six oligopolists whose product you own or regularly purchase. What distinguishes oligopoly from monopolistic competition?
What was Microsoft's market share of Intel-compatible PC operating systems? Of all operating systems, including those of Apple computers?
How was De Beers able to control the world price of diamonds over the past several decades even though it produced only 45 percent of the diamonds?
Explain verbally and graphically how price (rate) regulation may improve the performance of monopolies.
How does monopolistic competition differ from pure competition in its basic characteristics? Explain fully what product differentiation may involve.
Explain the economics of the substitution of ATMs for human tellers. What are these banks trying to accomplish?
What is the significance of resource pricing? Explain how the factors determining resource demand differ from those determining product demand.
Your opponent picks first. What number do you expect her to choose? Why? What number would you then pick? Why are the two numbers so close?
Construct game-theory matrix involving two firms and their decisions on high versus low advertising. Why won't they unilaterally cut their advertising budgets?
Explain why the firm will not hire a larger or smaller number of units of labor at each of these wage rates.
Why didn't GM reduce employment by more than 30,000 workers? By fewer than 30,000 workers?
Has the dollar appreciated or depreciated against the yen? What was the least amount in dollars that your box lunch cost? The most?
If the former, when and where was the latest ministerial meeting? If the latter, what are the main features of the agreement?
What effect would a rule stating that university students must live in university dormitories have on the price elasticity of demand for dormitory space?
What can you conclude about how products A and B are related? Products C and D? What does it mean if an income elasticity coefficient is negative?
What was the highest price during the last 12 months? The lowest price? Assume the price fluctuations observed resulted exclusively from changes in demand.
What is the effect of cigarette taxes on the consumption of alcohol? What does that imply about the cross elasticity of demand between the two?
What are some explicit and implicit costs of attending college? Why does economist classify normal profit as a cost? Is economic profit a cost of production?