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What is Frank's reservation wage (i.e. the wage that makes him indifferent between working and not working)? If the market wage is £5 per hour how many hours will Frank work per week?
A Treasury bond that matures in 10 years has a yield of 6%. A 10-year corporate bond has a yield of 8%. Assume that the liquidity premium on the corporate bond is 0.5%. What is the default risk pre
Find the total revenue and marginal revenue functions for men and women. What level will DryMax set for Qw and Qm? What prices will prevail, and what will the drycleaner's profit be?
A consumer has the utility function U(X,Y) = min(2X,3Y). Initially the price of X is $3 (px=3) and the price of Y is $2 (py=2). Our consumer has an income of $195 (m=195). Now assume that the price
Suppose that demand for a product is Q = 1,200 - 4P and supply is Q = -200 + 2P. Furthermore, suppose that the marginal external damage of this product is $8 per unit. How many more units of this p
Compare and Contrast the pure market and pure command economic system. Where does the United States fit in on this continnum?
Consider the inverse demand function for mangos, which is defined by the equation p = 91 - 5q, where q is the number of crates that are sold. the inverse supply function is defined by p = 3 + 6q. In
Discuss the common allegation that when all firms in an industry are charging the same price, this indicates the absence of competition and the presence of someform of price-setting agreement
Suppose that the discovery of cold fusion implies that the productivity of each worker in the economy doubles. This would cause the
The Grand Movie Theater has one box office clerk, M/G/1. On average, each customer that comes to see a movie can be sold its ticket at the rate of 6 per minute. For the theater's normal offerings o
The demand for or a good is given by the following inverse demand function: P = 110 - 3Q. The supply curve of the same good is given by P = 10 + Q. What is the price that sellers receive after a tax
How does self-interest help achieve society's economic goals? Why is there such a wide variety of desired goods and services in a market system? In what way
Discuss the various phases of business cycle: Are cyclical fluctuations necessary for economic growth?
What are the different methods of measuring national income? Which methods have been followed in India? What do you understand by the investment multiplier? In what way does it defend the policy of
In the short run, finding the optimal amount of variable input involves which relationship?
Complete a one page answer to question below. Include ideas on productivity and savings rates. What changes took place during the Industrial Revolution that made sustained economic growth possible?
A company issued 5-year, 7% bonds with a par value of $100,000. The market rate when the bonds were issued was 6%. The company received $104,265 cash for the bonds. Using the straight-line method,
Describe the source of tension between cooperation and self-interest in a market characterized by oligopoly. Use an example of an actual cartel arrangement to demonstrate why this tension creates i
Also, prepare a document using Microsoft Excel which illustrates the desired effect of the marketing campaign as a shift in market equilibrium with reference to price and quantity adjustments. Also,
The demand function for a cola-type soft drink in general is Q = 20 - 2P, where Q stands for quantity and P stands for price. Calculate point elasticities at prices of 5 and 9. Is the demand curve ela
What is the difference between wants and needs and what are the clasiifications of wants and needs.
Discuss the influence of taxes on the results of the above analyses (i.e. how do taxes influence the before-tax cash flow compared to the after-tax cash flow results? How might this difference influ
The production manager of a clothing manufacturer estimates that the total annual cost of producing men's suit is given by the equation: C = 5,000 + 4,100Q - 8Q^2 + 0.004Q^3. If the market price of