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A bulldozer can be purchased for $380,000 and used for 6 years, when its salvage value is 15% of the first cost. Alternatively, it can be leased for $60,000 a year. Remember that lease payments occu
Find the solution to the firm's short-run cost-minimization problem when capital is fixed at a quantity of 5 units (i.e., K = 5), and w = 1 and r = 1. Derive the equation for the firm's short-run to
MPS= 40 with no government and no foreign trade a 10 billion dollar increase in investment will enventually result in an increase in consumption or spending and how much
If velocity and aggregate output remain constant at 10 and 2,000, respectively, what happens to the price level if the money supply declines from $800 billion to $600 billion
The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2010, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50
Suppose the Federal Reserve's trading desk buys $500,000 in T-bills from a securities dealer who then deposits the Fed's check in Best National Bank. Use a balance sheet to show the impact on the ba
data from the land of milk and honey: year price of milk quantity of milk price of honey quantity of honey 2010 $1 100 quarts $2 50 quarts 2011 $1 200 quarts $2 100 quarts
consider the maximization problem u(c,l) subject to pc + wl = wT + Y, where c is consumption, l is leisure time, T is total time endowment, and Y is non-wage income. prove that if leisure is an infe
A few years ago, a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment acco
Suppose that 500 identical firms face have total costs given by C(q)=0.25q^2+30q+1600 and the market demand is given by D(p)=120,000-250p. In short run competitive equilibrium, what is the market pric
Suppose Carl's wage-schooling locus is given by Years of Schooling Earnings Derive the marginal rate of return schedule. When will Carl quit school if his discount rate is 4 percent What if the disco
Jane has three years of college, Pam has two, and Mary has one. Jane earns $21 per hour, Pam earns $19, and Mary earns $16. The difference in educational attainment is due completely to different di
Peter lives for three periods. He is currently considering three alternative education work options. He can start working immediately, earning $100,000 in period 1, $110,000 in period 2 (as his work
Debbie is about to choose a career path. She has narrowed her options to two alternatives. She can become either a marine biologist or a concert pianist. Debbie lives two periods. In the first, she
Suppose a perfectly competitive firm can produce 20,000 bushels of corn a year at an output at which marginal cost equals marginal revenue. The market price of corn per bushel is $2.00. The firm's t
The postwar U.S. economy data shows that the long-run annual growth rate of output is 3.2%, the long-run annual growth rate of money stock is 5.3%, and the nominal interest is 5.8 (a) Find the infla
Fin the this combination using the information below and given that the prices of labor and capita are $1 and $3 pert unit repectively. Q= 0 1 2 3 4 5 6 7 8 TPI=0 11 20 28 35 41 45 46 46.5
Fin the levels of employment that define stage two in the production process. If the market determined real wage rate is $20 determine the amount of labor a cost minimizing firm would hire in
Suppose a cost minimizing firm wihses to change its scale of production and needs to know the combination of labor and capita to employ. If the firs's total cost outlay is $14. Fin the this combinat
you are a newspaper publisher. You are in the middle of a one year rental contract for your factory that requires you to pay $600,000 per month, and you have contractual labor obligation of $1.25 mi
The annual percentage salary increases for the chief executive officers of all midsize corporations are normally distributed with mean 12.2% and standard deviation 3.6%. A random sample of 81 of the
Consider an industry that has eight firms, with the following market share percentage: 30, 20, 12, 10, 10, 8, 7, and 3. Calculate the four-firm concentration ratio and the (eight-firm) HHI for this
A firm in a purely competitive industry is currently producing 1000 units per day at a total cost of $450. If the firm produced 800 units per day, its total cost would be $300, and if it produced 50
Also suppose that in 1984 each bucket of chicken was priced at $10.00. Finally, assume in 2005 the price per chicken was $16.00 and 22,000 buckets were produced. Determine the GDP price index for 19