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Suppose that Bill has an income of $4000/month and spends his money on housing and food. Housing costs $1.50/sqft per month and food is $1. Suppose that Bill is given a housing voucher equal to $750.
A firm is currently considering plant expansion. There is some question as to what minimum attractive rate of return to use in the economic analysis of the proposed expansion. Banks are currently le
An outer beltway is being planned for a metropolitan area in your state. The initial cost is estimated to be $150M. Benefits are expected to be $8M a year. Annual maintenance costs are expected to b
How to find equilibrium GDP with various tax rates How do put these equations together to figure this outGovernment purchases, taxes and net exports are all zero.
Sarah is awake for 100 hours per week. Using one diagram, show Sarah's budget constraints if she earns $6 per hour, $8 per hour, and $10 per hour. Now draw indifference curves such that Sarah's labo
Mr. Consumer has an income of $100, and his utility is unaffected by the seasons. In January, he spends his whole income on two goods, Food and Clothing. The price of food is $2 and the price of clo
Given PxX + PyY = I and the information in question one above and a point system where px = 2, py = 8 and the number of points available is 450, is the consumer constrained by points If so, what is
Suppose the price elasticity of demand for vanity plates in your state is 0.60. The initial price is $20 and the initial quantity is 1,000 plates per week. Suppose the state increases the prices by
What would be the dollar value of the recessionary gap What would be the potential GDP number corresponding to a natural rate of 7% What would be the value of the expansionary gap
Find Todd's optimal consumption bundle and utility level at that price level, using the Lagrangian multiplier method. Assume the government decides to impose a tax of $5 per unit of x (so that the new
Consider a static, Arrow-Debreu economy with N=2 states. Suppose that the market is complete and let P and 1-P be the price of the two Arrow-Debreu securities, b(1)=(1, 0), and b(2)=(0, 1), respecti
A monopoly faces a market evenly split between high valuation consumers, with demand p= 10- y and low valuation consumers with demand p= 8- 2y. Marginal Cost = 0 arbitrage is impossible and the firm
A decision must be made on which fuel to use. An analysis of costs shows that the installed cost, with all controls, would be at least for natural gas at 30000, for fuel oil it would be 55000, and f
Price of copper plunges 5.6 % after hope for a quick resolution to Europe's debt crisis faded. Investors are concerned that signs of slower growth in Europe, the US and china could weaken for the in
a) In this economy, compute private saving, public saving, and national saving b) Find the equilibrium interest rate. c) Now suppose that G rises to 1,250. Compute private saving, public saving, and n
Suppose velocity is constant, the growth rate of real GDP is 3% per year, and the growth rate of money is 5% per year. Calculate the long- run rate of inflation according to the quantity theory in e
Consider a production function for an economy: Y = 20(L.5K.4N.1) where L is labor, K is capital, and N is land. In this economy the factors of production are in fixed supply
Abby consumes only apples. In year 1, red apples cost $1 each, green apples cost $2 each, and Abby buys 10 red apples. In year 2, red apples cost $2, green apples cost $1, and Abby buys 10 green app
Supposed a firm faces an inverse demand function of p(y)=20-y and a total cost function of c(y) = a + y^2 What would be the economic interpretation of the variable a
hypothesis, critical values, or calculations you used to get your answer to receive full credit. You will have to decide which variable is the dependent variable and which variable is the independen
Charlie Cook was able to determine the activity times for constructing his chemical contaminant tracking machine. A) Cook would like to determine ES, EF, LS, and LF for each activity. Here are the act
Suppose a freeze in Florida wipes out 20% of the apple crop. How will this affect the equilibrium price and quantity of pear Assume that the apple and pear are substitute to each other.
For Nebraska the opportunity cost of producing 1 bushel of corn is 3 bushels of wheat. At present, Iowa produces 20 million bushels of wheat and 120 million bushels of corn, while Nebraska produces
provide a 50 percent tuition reduction for those graduating in the top 10 percent of their high school class, 33 percent reduction for those in the top 20 percent, and 25 percent reduction for those