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Some states have had laws restricting the sale of most goods on Sunday. Consumers, by and large, oppose such laws because they find Sunday afternoon a convenient time to shop. Paradoxically, retail tr
Sometimes, a bidder on a work contract may bid lower than what would maximize his/her profit from the contract and the reason for that is to create goodwill to increase expected future business from t
The following is a cost function for clinic visits in a small inner city clinic: Quantity of Visits Total Cost per Week 0 $10 1 15 2 25 3 45 4 75 5 115 6 165&nb
For each event explain how the event would affect price, supply and demand of the product listed: Two days before Thanksgiving the market has many unsold turkeys. Drought forces ranchers to
What information did you have or obtain that helped make your decision a well-informed one? Was there something you didn't know beforehand that you wish you had?
Which sentence best tells the effect of scarcity on economics? A. Scarcity shapes decisions about how to distribute goods. B. Because resources are scarce consumers buy fewer goods. C.
You are the manager of a firm that receives revenues of $40,000 per year from product X and $90,000 per year from product Y. The own price elasticity of demand for product X is -1.5, and the cross-pri
Why might harriet tubman have felt like a different person after she crossed the border to a free state? describe how enslaved people were veiwed or treated by southerners and northerners. support y
Illustrate the following using demand and supply graphs. a) The market price of a basic digital cell phone fell due to increased production. b) In 2002, unusually bad weather caused a reduct
Suppose the demand curve for a monopolist is QD = 500 − P, and the marginal revenue function is MR = 500 − 2Q. The monopolist has a constant marginal and average t
According to the permanent income hypothesis, households will tend to react to a temporary tax cut by? A) assuming the new tax level will be permanent. B) saving most of the additional dispo
A museum increases its admission price by 10 percent. As a result, total revenues increase by 10 percent. This implies that, ignoring the sign, the price elasticity of demand for admission is:
RedBall Productions is a new company based in Orem, Utah. RedBall supplies stock images of still photography. Utah's state corporate income tax consists of a flat tax rate of 5% on all corporate incom
Which of the following is an example of how economics can affect science? A. Limited funding may lead scientists to research one topic instead of another. B. Legislators may create new laws
The purpose of advertising & other forms of non-price competition by a firm is to shift the Demand curve to the A)Right B)Left & A)Make it more elastic B)Make it more
The market equilibrium price for coffee beans in Ecuador is $2.75/pound, a price at which growers are unable to make a profit. Due to the lack of profits, many growers have stopped production and the
The owner of a flower shop needs a short-term loan to tide her business over until she completes the sale of some unused property. She asks the bank for a $25,000 six-month loan. The bank agrees to gi
Is it true that the underlying trend of growth in the economy is determined by the growth in the number of workers, the growth in the savings and investment rate, and the growth in productivity ?
Which of the following statements best describes the idea of a “consumption vocabulary.” A. People who have a larger vocabulary consume more B. Consumption of a vocabulary falls prey
The following paragraph is a description of which of the following terms? Suppose a group of participants were given a large number of products to evaluate. The products are formed by fully crossing
“Dependency” theorists believe that moving surplus labor from agriculture to industry where that labor will earn profits that can be reinvested for further growth is the key to o
An online store that has been successfully growing on its initial angel investment and revenues wants to invest $5 million to expand the business. The bank is willing to lend the business this money a
The question is explain the authors opinion of economic cooperation between the u.s. and canada and information from the article that support explanation.
An investor sells a stock short for $36 a share. A year later the investor cover the position at $30 a share. If the margin requirement is 60% what is the percentage return earned on the investment?
A speculator sells a stock short for $50 a share. The company pays a $2 annual cash dividend. After a year has passed the seller cover a short position of $42. What is the percentage return on the p