Q1. Rex has determined that demand for his product is given by Q=180-5p and cost equation given by C=75+.3Q. Determine the optimal price and quantity for the firm.
Q2. How does Iraq's infant mortality rate correlate with Iraq's GDP per capita?
Q3. In 2009, a nation's real GDP were $250 billion and in 2010 it is $265 billion. Its population was 120 million in 2009 and 125 million in 2010. In 2010, what is its real GDP per capita?
Q4. Winston Churchill once thought that democracy is the nastiest form of government except for all others. In microeconomic terms what did he mean? Would a more practicable democratic system add to or reduce the ability of government to operate more efficiently?