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Sam's Auto's faces a strategic managerial decision. The firm can sell cars by simply posting a price. If the customer is willing to buy, clerk's fill-out paperwork and the sale is complete. Alternat
IA staff are paid on salary, which is not dependent upon the volume of patients seen. Clinic supplies are $40 per patient, and the clinic sees 975 patients a month. Use the above information to calc
Q1. Is the firm producing under perfect or imperfect competition? Explain. Q2. What are its fixed costs? Q3. What is the marginal revenue? Q4. Calculate the marginal cost at all output levels.
Using calculus and formulas (but no tables and restricting your use of spreadsheets to implementing the quadratic formula) to find a solution, what is the total profit at the optimal output level?
Problem 1. Factors that affect fixed costs? Problem 2. Make recommendations on how your organization can maximize their profit-making potential and successfully compete in the new market.
Write a short (2 to 3 page, double-spaced, typed) essay identifying and describing the current state of the health care industry using the tools we have studied this semester.
How does the problem of limited and bundled choice relate to economic efficiency? Why are public bureaucracies alleged to be less efficient than private enterprises?
Listed here are example of bad, or at least questionable, decision. Evaluate the decision maker's approach or logic. In which of the six decision steps might the decision maker have gone wrong?
In Metro, there are three types of houses: E (expensive), M (medium), and C (cheap). A recent survey suggest that there are three types of preferences for fire protection: H (high), I (intermediate)
Economists often employ a set of graphical tools to illustrate how individuals make choices ("Theory of Consumer Choice"). Define each one: (a) individual objectives, (b) indifference curves, (c) op
Some analysts explained this outcome by arguing that consumers were behaving in less than rational ways (e.g., they consistently over - estimated the prices or they over-paid due to altruism). In co
Explain how the marginal product for a resource can change. Conclude with an explanation for what can change the demand for a resource.
Explain the calculation and interpretation of the cost of capital.
Question 1: How is economic thinking on government spending and taxation applied within the United States? Question 2: Discuss some of the economic paradigms that influence policy decisions.
Education is often used as an example of a positive externality. Are the external benefits greater for elementary, secondary, or college education? Explain.
How did the Bretton Woods system operate? What caused its collapse? Some think the current system of managed but floating rates is too unstable. What would generate the instability?
Assume that Al is risk neutral and his utility function (U) is just a function of profits (Π) from selling turkeys (at least at this time of the year).
1. Calculate profit-max price (monthly and annually), output, and rate of return levels. 2. What monthly price should commission grant to limit cable co. to a 15% rate of return? (please explain all
How would I determine the market prices in regards to alcohol consumption?
Explain the law of demand. Why does a demand curve slope downwards? Distinguish between a change in demand and a change in quantity demanded.
A firm with “market power” is operating two plants and selling its product in two markets. The demand and cost configurations it faces are:
Problem: What do you think will happen to the price and quantity of DVD players if a. The availability of good movies to play on DVD players increases? b. Personal income increases?
a. What happens to the student's budget line? Illustrate the change with new books on the vertical axis. b. Is the student worse off or better off after the price change. Explain.
You have estimated demand for the Sand Hill Journal Online to be different for Stanford students and venture capitalists on Sand Hill Road. You are proud of having come up with the demand functions
Would this lead to substitution of market time for parental time in childcare? Would higher or lower wage families be more likely to substitute toward market time (assume husbands and wives wages ar