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Compute level of output which must be produced to maximize short run profits. Find point price elasticity of demand at profit-maximizing level of output.
At the market price of $15 per unit, how many units will be produced and sold? Find the profit per unit? Find total profit?
Find out probability that Cool-Aire will incur the operating loss. Find out probability that Cool-Aire will operate above its breakeven point.
Suppose that all other factors remain unchanged, find out how firm's breakeven point is affected by each of following.
HoldingZ(the plant size) constant at 100,000, find out AVC and MC functions for electricity. Substitute 100,000 for Z in both equations.
Find the market clearing federal funds rate? Suppose that this is the target for federal funds rate. Show all work.
Comment on what would occur to government multiplier under assumption of perfectly flexible prices. Compute the money multiplier.
Assume initial conditions of economy are characterized by given equations. Deduce the expression for consumption function and graph it on exam sheet. Illustrate all work.
Write down the difference between an informative speech and a persuasive speech? Why is speaking to persuade more challenging than speaking to inform?
If you were in charge of hospital, what would you do to recruit skilled nurses? How would this affect shortage of skilled nurses in long run?
How do rent controls today which permit annual rent increase attempt to address problems created by traditional rent freeze discussed in text?
Compute marginal product and marginal revenue product of students, then fill out the last two blank columns.
Where can the entrepreneur go for funding? What type of short-range and long-range planning would be required for success?
Which is better strategy for various countries and for global economy as whole, and whether two approaches are complimentary or contradictory.
Why did airlines which once were regulated by government normally fail to earn the economic profit, even on routes with relatively high fares?
How do you expect changes in microeconomy and macroeconomy to affect future supply of and demand for that good or service?
Describe the process of revenue at NSU, focusing on relationship between increased revenue from students enrolling at NSU despite higher tuition.
Describe the difference between a positive and negative externality. In analysis, ensure to provide the example of each type of externality.
Examine determinants of price elasticity of demand and determine if each of the given products are elastic or inelastic:
Solve for (government) spending multiplier. What would happen to multiplier if mpi rises to .25. Describe the intuition.
If indeed governments spend more, will jobs created be permanent or temporary? Support the thoughts using tools of economic analysis.
The price after externality is included. What problems might exist in determining the new, externality based, price?
Describe what the results of such a move are for graham cracker market. In other words, will there be SHORTAGE, a SURPLUS, or neither created? Why?
Will the increase number of people entering this labor market? Why or why not? Will this increase number of people hired? Why or why not?
Recall law of diminishing marginal utility. What occurs to Marginal Utility of bracelets and Marginal Utility of soda?