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Determine a firm's production decision in both the short-run and long-run. Discuss what type of input costs might be fixed in the short-run and which might be variable in the short-run. Provide one
Calculate the demand equation using a log-linear regression of the form Q=kPb. Determine the price elasticity of demand? Does this equation fit the data better than the part a equation? Explain?
Assume the money supply increases to 2800. Identify the equilibrium values of the real interest rate, investment, consumption, and the price level. Suppose that the expected inflation rate is&n
Provide the list of five major variables that influence the market structure, and give a brief statement indicating why they are important to decision-making by business managers.
The market for health insurance and the market for health care are two markets which are plagued with two source of market failure. This discussion will help you explain the difference in these mark
The chair-making industry currently consists of the 90 producers, all of whom operate with the identical short-run total cost curve STC(Q)=500+3Q2, where the Q is the annual output of a firm.
Determine a perfectly competitive market where market demand is given by Qd=30-P and market supply is given by Qs=2P. In this market, the government has imposed a production quota of 10.
Explain what would the price of labor have to be in order for the firm to choose to use both capital and the labor as inputs?
In "The Social Responsibility of Business Is to Increase its Profits," explain what economic idea is the author alluding to by stating that the social responsibility of business is to increase profi
How well does paper currency serve the functions of money if we have an inflation rate of 50-percent per year? Paper currency is the most easily recognized form of money.
Give a summary of each of the following theories about race. Perform an internet search to find more information. a) Structural-functional analysis: the importance of culture.
What level of output should be produced in each market and what price will prevail in each market if the monopolist can maintain the separation between the two markets? What are the total profits in
Explain the expected effects that college scholarships based on: student ability student need are likely to have on the distribution of income.
Levitt Inc. operates in an industry that has a Rothschild index of 0.78. The firm gained access to a government report that revealed the own-price elasticity of market demand within the industry to
Many automotive dealerships, such as BMW, sell low mileage late model used cars, with warranties on defects and repairs that offer more coverage for longer periods of time than the warranties on the
Individuals, governments, firms, and the countries are faced with choices because all resources are scarce. A production possibility curve measures the maximum combination of outputs that can be ach
If a firm makes a loss in the short run, should it shut down? If no, discuss. If yes, discuss. Offer examples. Do think discussion forum is a useful learning tool for online classes.
An airline ticket costs the same from Wyoming, Casper, to Denver, Colorado and from the Denver to Orlando, Florida. Does this make economic sense?
The Ford Motor Company sold 500,000 Model T Fords at a price of $440 each in 1916. Henry Ford believed that he could increase sales of the Model T by 1,000 cars for every dollar he cut the price.
Should they choose an expansionary or contractionary policy? What would be the consequences of doing so? Should the Congress and president engage in discretionary fiscal policy if a recession
Assume the government is running a surplus and aggregate demand is so high that any further increases in spending will cause only inflation, with no increases in production. Explain what should the
Assume the Fed decides to increase the nominal money supply using an open market purchase. The end result of the money creation sequence of events shows a decrease in the federal funds rate.
Explain what does the Fisher Effect say about the relationship among the nominal interest rate (e.g., the federal funds rate) and the inflation rate?
Find out at least one important Entrepreneur that you would consider an "Entrepreneurial Legend" and state why you consider the person to be exemplary.
Amacon is a bicycle manufacturer that produces approximately 5,000 bikes each month. In order to meet that demand, Amacon requires the 10,000 rubber tires at its assembly plant on the last Thursday