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How would you conclusion change for the winter months, if bad weather makes it likely for traffic jams on the highway to increase to 6 days per month?
Suppose a commercial banking system has $100,000 of outstanding checkable deposits and actual reserves of $50,000. If the reserve ratio is 20 percent, the banking system can expand the supply of money
Explain the process of revenue at NSU, focusing on the relationship between the increased revenue from students enrolling at NSU despite the higher tuition and the lost revenue from possible lower enr
Explain four problems with the argument that trade protection is needed to protect American jobs. b) Describe the economic reasons why businesses use offshoring.
Which definition(s) of the money supply include(s) only items which are directly and immediately usable as a medium of exchange?
A purely competitive firm's output is such that its marginal cost is $4 and marginal revenue is $5. Hint: remember that MR = P for Pure Competition and the Profit Maximizing rule. Assuming profit maxi
Besides your pricing decisions, what are your suggested nonpricing strategies? What nonpricing strategies will you use to increase barriers to entry?
Does this change in the value of the dollar make imports cheaper or more expensive for Americans? Are American exports cheaper or more expensive for importers of U.S. goods in Japan? Illustrate by sho
Suppose that Rob and Big both raise animals and sell them. Because Rob and Big have different talents, they have varying abilities to raise these animals.
The unemployment rate in October 2008 reached a 14 year high at 6.5%. As of the end of 2008, the recession did not appear to be ending any time soon.
How did the policies for manufacturers of automobiles evolve? For example, what influences do the following organizations have on business owners, and what is their history?
Compare a collusive oligopoly market structure with perfect competition in terms of price, output, allocative efficiency and consumer and producer surplus. Support your analysis with economic theory
Redraw the Demand curve (only) in a new diagram. Demonstrate the Total Revenue change geometrically and indicate the Loss and Gain areas between the prices of $6 and $2 (Price has moved UP from $2 to
Although the U.S. does not have the highest saving rate in the world, Americans save more money than citizens of every other country
If the income elasticity of a particular good is negative 0.2, it would be considered 1) a superior good 2) a normal good 3) an inferior good 4) an elastic good
Suppose that the market for coffee is initially in equilibrium. Suppose that a technological improvement lowers the cost of producing coffee. At the same time, consumers' preferences for coffee increa
The plant will cost $10,000,000 to build, has an annual operating expense of $600,000, and must be renovated every 20 years at a cost of $1,000,000. The trust fund earns 6% interest. What amount must
On December 29, the cost of a skiing trip to Finse, Norway, was 6,500 krone. Two weeks later, the American dollar appreciated against the Norwegian krone. If the price of the trip in Norway remains th
The company currently has 95,000 subscribers and proposes to raise its monthly fees to $39.95 to cover add-on features such as text messaging, song downloads, game playing, and video watching. What is
Consider the following production function for combination of capital and labor, Q=f(L,K)=L^0.4*K^0.5. Is this function homogeneous in K and L?In the long-run, does it exhibit increasing, constant, or
A food chain charges higher prices for its products in poorer neighborhoods compared to the ones in affluent communities. Give your opinion on why this occurs. Provide support for your response.
The price mechanism would be least important under which kind of economic system? a) capitalism b) socialism c) communism d) fascism
Cool-Aire Corporation manufactures a line of room air conditioners. Its break- even sales level is 33,000 units. Sales are approximately normally distributed.
Are better than budget deficits over the long run because unlike budget deficits, they increase saving and investment.
The market demand is given by Q=320-8P. Monopolist's MC=10. a. Calculate the profit maximizing monopoly output and price. b. What is the Lerner-Index of market power for this monopoly