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There are 6 tokens on the table. Two players alternate removing some of the tokens. In each move any player can either remove exactly one or exactly two tokens. Whoever removes the last token is the
Suppose that a firm's production function is given by the Cobb-Douglas function q= (K^a)(L^ß) and that the firm can purchase all the K and L it wants in competitive input markets at rental rat
A firm is currently producing in the elastic portion of its demand curve. What course of action do you recommend for it assuming it wants to raise revenue Continue producing at the current output le
Assume that labor supply is perfectly inelastic. If the demand for labor is inversely related to the real wage, what would the effect of a minimum wage be if it was an effective price flor in the la
What are some of the considerations and concepts behind planet-wide laws In your opinion, is this a healthy step forward for humankind. In terms of technological but also social development, what do
How many states had an increase in the poverty rate compared to last year Why did this happen What new programs have been initiated to combat poverty at the state or federal levels
Below is the entire assignment. I have most of the answers but I do not know how to respond to the final question in the first part "What does your anticipated adjustment process imply about the CR
In the article, several people in this industry complain about thinner profit margins. Can the retail market survive with the current level of profits Do you expect there will be entry of more firms
One additional advantage Microsoft has is its ability to create a variety of Vista products, some of which have more features than others. Does it make sense for Microsoft to differentiate its produ
Firms have tried a number of different strategies to reduce the negative effects of competition on their ability to earn economic profits. What is the strategy is most desirable from the economic e
Assume that demand for a commodity is represented by the equation P = 10 - 0.2 Q d, and supply by the equation P = 2 + 0.2 Qs where Qd and Q s are quantity demanded and quantity supplied, respective
Assume the firms in an oligopoly produce a differentiated product and are initially colluding. If each firm begins to cheat (to increase sales) by underpricing the other firms, as the amount of chea
Discuss the characteristics of monopolistic competitive market in detail. Name five different companies that belongs to this market. Compare and contrast monopolistic competitive market with Oligopo
Immigration is a major topic of concern in today's economy. What are the possible problems and solutions for these concerns and what could happen to the U.S. labor markets if immigration is not cont
A customer quit her job and now runs her own business. Her business an accounting profit of $33,700 and an opportunity cost of $36,700. There is an economic loss of -$3,000. Factoring ceteris paribu
Many factors determine the supply and demand for labor. Identify and explain two factors that would increase or decrease the demand for labor. Identify and explain two factors that would increase or
Assume that we have Ricardian equivalence. This implies that consumption depends on expected life- time incomes and that individuals understand the government's intertemporal budget restriction.
Discuss, with the help of Krugman-Obstfeld-Melitz' AA- and DD-curves, the effects of a contractive fiscal policy (a decrease in government spending) on the interest rate, the nominal and real exchan
Using an indifference curve, illustrate Lorne's decision if he decides to work 10 hours per day. Calculate, and in your diagram, identify, Lorne's quantity of leisure, supply of labour, and consumpt
1. How do you know that the firm represented in the graph above is a purely competitive firm 2. To maximize profits, this firm will produce at what output level (one letter) 3. Explain why this MR=MC
If the price ceiling were removed, what would happen to the price of gasoline in the near term Is it fair that the available gasoline would only go to those people who are willing and able to pay the
In the 1970s, the United States experienced periods of severe gasoline shortages due to OPEC policy and unrest in the Middle East. The price of gasoline increased as a result of these shortages.
Assume the government sets a price ceiling below the Pe. Plot this price ceiling price on your diagram. What is the new market situation How will it be decided who can buy the quantity supplied of g
In the late 1990s, several East Asian economies had their currencies pegged to the U. S. dollar. Suppose there is an economic boom in the United States that leads to an increase in U. S. interest rat
It is sometimes suggested that the federal reserve should try to achieve zero inflation. If we assume that velocity is constant, does this zero-inflation goal require that the rate of money growth e