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A rich graduates of engineering program at your University wishes to start an endowment that will provide scholarship money of $40,000 per year beginning in year 5 and continuing indefinitely.
Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following• 1 loan balances and APRs: Card 1, $4,500, 2
At the end of 5 years, the compactor will be replaced by another identical compactor (Cynthia hopes to be so lucky.) Assuming that the City will own and operate a landfill for perpetuity and that th
1. What was the growth rate of nominal GDP between 1999 and 2009 2. What was the growth rate of the GDP deflator from 1999 to 2009 3. What was real GDP in 1999 measured in 2005 prices
Revenue at a major cellular telephone manufacturer was $1.4 billion for the nine months ending March 2, up 97 percent over revenues for the same period last year. Management attributes the increase
Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25. Calculate your price elasticity of demand of widgets. What can one say about the pric
a. What price and quantity will the monopolist produce at if the marginal cost is a constant $4 b. Calculate the deadweight loss from having the monopolist produce, rather than a perfect competitor.
A furniture manufacturer is considering moving its production to India. Its production function is: Q = 1.52L.6K.4. In Canada, w = $24 & r = $4. In India, w = $4 & r = $24. a. What is the K/
1. Income is $2.00, the price of soda is $0.25, and the price of chips is $0.50. Construct Adam's budget line. 2. What is the utility maximizing combination of soda and chips Indicate this combination
in short run total cost,variable cost,and fixed cost curves and in the other,the short run marginal cost,average total cost,average variable cost,and average fixed cost.
Suppose that a country has no public debt in year 1 but experiences a budget deficit of $40 billion in year 2, a budget deficit of $20 billion in year 3, a budget surplus of $10 billion in year 3, a
Suppose that in the domestic market for computer chips the demand is Pd = 110 Qd . The domestic supply is Ps = 10 + Qs . Foreign suppliers would be willing to supply any number of chips at a price o
Suppose that velocity is constant and the economy's output of good and services rised by 5% each year, what will happen to nominal GPD and the price level next year if the Fed keeps the money supply
Consider a monopolist facing a demand curve given by P = 20 - q, where P is the market price and q is the quantity sold. The monopolist's marginal costs are MC = 2 per unit; there are no other costs
Suppose that the production of crayons (q) is conducted at two locations and uses only labor as an input.The production function in location 1 by Q1=10Lx^0.5 and in location 2 by Q2=50Ly^0.5
A farmer believes there is a 50-50 chance that the next growing season will be abnormally rainy.His expected utility function has the form Expected utility=1/2lnYnr+1/2lnYr, where Ynr and Yr represe
The Third National Bank has reserves of $20,000 and checkable depositts of $100,000. The reserve ration is 20%. Households deposit $5,000 in currency into the bank that is added to reserves
E-loan,an online lending service,recently offered 48month auto loan at 4.8% compounded monthly to applicants with good credit rating. If you havae a good credit rating and can afford monthly payment
if an ammonia plant that produces 500,000 pounds per year cost $2,500,000 to construct eight years ago, what would a 1,500,000 pound per year plant cost now Suppose that the construction cost index
The scores of students on the ACT college entrance examination in a recent year had a normal distribution with a mean of 18.6 and a standard deviation of 5.9. A simple random sample of 60 students w
Find the general expression for the consumer's expected utility maximization problem for investing x dollars in the risky asst.Let u(w) represent the general utility function.Characterize the soluti
To demonstrate that a utility function that is a monotonic transformation of another utility function gives that same first-order conditions and hence the same demand functions, multiply the utility
a. Set up the constrained maximization problem and derive the first-order conditions. b. Derive the consumer's demand for X and Y in terms of parameters. c. Derive the own-prices of elasticiites of de
Let a linear demand function be expressed as Q = a + bP, where b < 0. a. Express the point elasticity of demand as a function of Q and a only. b. Take the dericated dE/dQ adn verify that demand bec
Suppose production utilizes capital (K) and labor (L) and that production technology is summarized by the following function:q=KL a)find the cost minimizing input demands when prices of capital and l