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Briefly explain the demand curve for eskom as well as the implications of the curve with regards to market power.
Explain what the results of such a move are for the milk market. In other words, will there be a SHORTAGE, a SURPLUS, or neither created?
Describe the likely effect on demand curves for office visits to a physician as a result. What do you suppose will be the intended and unintended consequences?
Using graph, explain the pricing decision of a monopolist and the deadweight loss of monopoly.
Using the supply and demand model explain how a tax could reduce the sales of cigarettes. Explain whether the demand for cigarettes is elastic or inelastic.
What is the impact you would expect such a policy to have on the term structure of interest rates?
Find the profit-maximizing sustainable equilibrium for this model when the tuna are not common property.
Draw the Production Possibilities Curve. Determine the opportunity costs for a move from A to B; B to C; and C to D.
Discuss the opportunity cost you incur for some activity in your life. Additionally, what activity do you feel you have a comparative advantage in?
What happens to consumption today and in the future? Explain in a few sentences. Think and answer using economic terms.
Do hidden fees actually make the economy less efficient? If so, how? When answering, ensure you first clearly define the concept of efficiency.
Can you provide an alternative explanation? What implications does your explanation have for the long run viability of the cartel?
Write down the definition of heteroscedasticity. What problem doesthe presence of it cause for the OLS estimator?
Briefly explain whether you agree or disagree with the following statement: ‘Sulphur dioxide emissions cause breathing difficulties for people with respiratory
Assuming no legal restrictions on price, use supply and demand analysis to show the expected effect of the flood on the price of bottle water.
What are the total revenues, total costs, and economic profits experienced by this firm? Is this firm more likely in short- or long-run equilibrium? Explain.
A worker who is typical in all respects, works for a wage of $20,000 per year. What is the implied value of the life of a worker with these characteristics?
What is your take on this issue and what do you think about the War on Poverty which has been ongoing since the 1960's?
What is the relationship between a Lorenz curve and a Gini coefficient? Give some examples of how Lorenz curves and Gini coefficients can be used?
How technology changes production function and cost curves, and thus, firm decisions and market outcomes in the short run.
Predict the independent variable for a given value of dependent variablec. Estimate how large future samples should bed. Determine the correlation coefficiente.
Determine the price elasticity of demand at the monopolist's profit-maximizing price. Also calculate marginal cost at the monopolist's profit-maximizing output.
With trade, what will the price for commercial jet airplanes be? Will the United States import or export airplanes? How many?
Explain what is meant by depreciation Describe the methods of depreciation and give a numerical 30 examples for each method.
You should demonstrate your critical skills of picking up economic idea.s You should show your ability to identify economic principles and their applications.