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Consider the Slutzky equation with endowments.
Calculate the labor force participation rate and the unemployment rate.
Identify a firm which operates in monopolistic competitive environment and a firm which operates in an oligopoly environment.
Money is said to have four functions: a medium of exchange and a unit of accounting. Why could you think of any other economic function of money?
Using an interest rate of 10% per year, determine the present worth of the savings due to the reconfiguration.
Cost functions, a part of the definition of profit, are useful to gauge the performance of the business. Define and compute the marginal cost when Q = 3.
What are the correctly calculated taxes due on a corporate taxable income of $13,000,000?
How much monthly revenue must the 635E generate per month to offset the costs? Assume the lease has a 6% interest rate that is compounded monthly.
Not having had a contract or a hit during the last 12 months, Itchy Fingers Valachi, the Mafia's chief executioner. What kind of pal is Hammerhead?
Explain what could have caused this event. Along with the verbal explanation, apply the concept of autonomous consumption.
Calculate both the business buyers consumer surplus and family members consumer surplus given your answers to questions 1 and 2a.
illustrate the income and substitution effects of the welfare program and how a fixed subsidy could lead that individual to same level of utility at lower cost.
Determine how many units of each good towns A and B produce and consume before trade opens up.
What is the expected net present value (NPV) of the project if the firm's discount rate is 5% (or 0.05)?
If the software is not protected, so that piracy is an option for consumers, what is the firm's (single) profit-maximizing price?
If the software is protected, so that piracy is not an option for consumers, what is the firm's (single) profit-maximizing price?
Why might education exhibit positive externalities? Describe a government policy to internalize the positive externality of education.
What is the level of production in the market equilibrium? What is the socially optimal level of production? Determine Pigou tax that achieves social optimum.
The price of the output is $2 per unit and the price of the variable factor is $10 per unit. In the short run, how many units of x should the firm use?
A competitive firm's production function is f(x1, x2) = 12x1/21 + 4x1/22. The price of factor 1 is $1. What is the profit-maximizing quantity of output?
What is the firms average variable cost function? What is the firms average cost function? What is the firms average fixed cost function?
Use the tools provided to draw the Average Product (AP) and Marginal Product (MP) curves. Locate the AP values to the nearest whole number.
How does the concept Think global, act local have an effect in adapting the marketing mix for local markets?
How could you make a riskless profit without any money tied up assuming that there are no transaction costs in buying and or selling foreign exchange?
Graph the aggregate demand for air quality along with individual demands. What is the efficient amount of air quality?