Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
CPI has estimaed its marginal cost function to be as follows MC=.006Q. The board would like to know how many caded of toothpaste should be produced in order to maximize profits.
Assume he's right, and that such measures would make visitors feel more welcome without any negative effect on available security outcomes. Shift the curve in the graph to show the effects of such a
A company has an investment project that would cost $10 million today and yield a payoff of $15 million in 4 years. Can you figure out the exact cutoff for the interest rate between profitability and
They argue that this tax would both raise tax revenue for the state government and raise employment in the Washington State wine industry. Do you agree with these claims? Is it a good policy?
Can management reduce the cost of assembling 5,400 units per day by purchasing a textile machine and using less labor? Why or why not?
Assume the Fed does not change the money supply. According to the theory of liquidity preference, what happens to the interest rate? What happens to aggregate demand?
Does the country face an increasing opportunity cost of food? What feature of a PPF illustrates increasing opportunity cost and why does your PPF not have this feature?
Deter one person from using drugs and the cost that one drug user imposes on society is $897. Based on this information alone, should the government spend the money on drug control?
If you were to draw the two nations' PPF's on the same graph, which would be farther to the right? (i.e., which country's PPF would lie farther out from the origin)?
Calculate the (point) price elasticity of demand when price is $700. Is demand elastic or inelastic? Find the point at which point elasticity is equal to -1.
What factors would you consider in making the choice of how you will allocate your time between work and leisure? Would these factors change as your earnings increased? As you aged?
What is a budget constraint? How does a budget constraint explain consumer choices when used in conjunction with indifference curves?
By what percentage did the price level, as measured by this index, rise between 1984 and 2005? What were the amounts of real GDP in 1984 and 2005?
Micro economic factors of demand, production cost and profitability. Drawing on current business publications, find some updated facts that support this theme.
Derive average and marginal cost for all integer outputs less than or equal to 7. What are average and marginal cost for all outputs above 7?
Compute the price elasticity of demand for paint and show your calculations. Decide whether the demand for paint is elastic, unitary elastic, or inelastiv. Explain your rresults.
Explain how resource scarcity influences this market and describe choices stakeholders must make. Describe economic flows that affect the health care market.
Find the level of newspaper and magazine advertising that maximizes the firm's sales. Calculate the firm's sales at the optimal values of newspaper and magazine advertising determined in part (a).
Determine the output level (Q) that minimizes average variable cost. How does one know that the value of Q determined in part (a) minimizes rather than maximizes AVC?
What was the percentage change in real GDP from 1981 to 1982? What do economists call the percentage change in real GDP from one year to the next?
Tax Freedom Day answers the basic question, "What price is the nation paying for government?" An official government figure for total tax collections is divided by the nation's total income.
Its fixed costs- over a considerable range of volume - are $350,000 per month, and the variable costs are $0.50 per dollar of sales. What is the annual breakeven point volume (D)?
As an economist interested in incentives rather than coercion, what kind of policy would you recommend to slow population growth?
Why is marginal analysis important in economics? How do the tutorials Basics of Marginal Analysis. How can any firm find the right production level which guarantees maximum profit?
Assume that the price elasticity of demand for corn is 0.6 and that farmers have a record harvest-corn production is highter than ever. What will happen to the total revenue received by farmers?