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Sketch the two marginal benefit schedules and the aggregate marginal benefit schedule. Draw in the marginal cost schedule, and find the efficient level of provision for snowplowing services.
Question 1: At what level of the control variable are net benefits maximized? Question 2: What is the relation between marginal benefit and marginal cost at this level of the control variable?
With reference to the isocost curve and isoquant below, and the knowledge that labor costs $150 per unit, answer the following questions: a. What is the price of capital? b. What is the equation of
1) Find the nominal GDP in both years? What is the growth in nominal GDP? 2) Find the real GDP in both years? What is the growth of the real GDP?
Consider the following demand schedule. Does it apply to a perfectly competitive firm? Compute marginal and average revenue.
A. Using the firm's marginal cost curve, calculate the profit-maximizing long-run supply from a typical retailer B. Calculate the average total cost curve for a typical gasoline retailer.
1) Use the following to calculate profit at each quantity of output. 2) Use the table in exercise A to calculate marginal revenue and marginal cost
Question 1. Calculate the expected market price. Question 2. What output should you produce in order to maximize expected profits?
If Zildjian wants to make another brand extension other than microphones... let's say, drum sticks or something you think is cooler like an amp or clothing... *how* should they do it successfully? O
Explain how to use invoicing and payroll periods to remove discrepancies in the timing of taking cost and revenue decisions
Demonstrate analytically and show graphically that, in the Keynesian consumption function, the average propensity of consumption is always bigger that the marginal propensity when the autonomous com
Keynes said that "Jevons saw the kettle boil and cried out with the delighted voice of a child; Marshall too had seen the kettle boil and sat down silently to build an engine". Explain and discuss.
Compare the rationale of the Reagan administration for the 1981 tax reductions with the rationale behind the Kennedy-Johnson tax cut of 1964, the Bush tax cut of 2001, and the Bush tax cut of 2003.
Develop an economic analysis and recommendation, on the current state of the U.S. economy in the areas of unemployment, interest rates, expectations and consumer income from a Keynesian perspective.
Derive graphically IS curve. Explain the following statement by using the tools of analysis that you have learned in the class:
Assignment: Suppose the NJ government decides to impose a $1,000 per student tax on colleges--each college has to pay $1,000 for each student enrolled. The supply curve of college education (before
a. Obtain an equation for firm’s short run total cost function. b. Does the firm have any fixed costs? Explain?
Identify and explain approches to measurement of national Income (NI) and Highlight major drawbacks associated with each aproach. Why is it difficult to compare NI statistics internationaly?
What's the value of a typical firm's long run marginal cost at equilibrium? Show the calculation of its value. How many firms are in the widget industry in the long run?
Two would-be wine makers (Mr. Ripple and Poor Richard) are contemplating entering the low end wine market in the country of Zuba. Two types of wine are being considered by both—Brown Bag
Q1. Determine the equilibrium market price and quantity. Q2. At the equilibrium price computed in (a) above, what is the quantity produced by a typical firm?
Are there any Nash equilibria here? Explain and show how the equilibrium might be supported. Which outcome would Sony prefer, and why? Be sure to discuss cooperative vs. non-cooperative
How effective is this monetary policy if the demand for loans is shrinking, even at a very low interest rate? Why would demand for loans decline if interest rates are declining?
Can you illustrate by using supply and demand graphs what happens to the equilibrium price and quantity in each of the following situations. Please dont forget to label the graphs.
Explain the concept of consumer surplus and utilize it along with a well-labeled diagram to show how disk drive consumers can benefit from the excess capacity in the disk drive market.