Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Compare and contrast how monopolistic and perfect competition market structure respond over the long run if subnormal profit are been made in the short run
If a structure had 4 inches of insulation, and the temperature was 62 degrees what is the estimated KWH and what is the interval that would contain 95 percent of such estimates.
What is the concept of sustainable income? Can you describe in your own words. Can you give an example of what this number may look like by using the income statement of a real-life company?
Assume these prices remain unchanged between 2001 and 2006. Calculate the U.S. dollar price of a hotel room in Brazil and in Mexico for June 2001.
Calculate marginal utilities. What combination of the two should he produce (acquire with his income) to maximize utility?
Use the plotting tool to place an orange square at the point on the total cost curve that corresponds to average variable cost = $10. (Hint: This is the lowest value of average variable cost for Mam
Suppose that a firm is currently employing 10 workers, the only variable input, at a wage rate of $100. The average physical product of labor is 25, the last worker added 10 units to total output, a
Based on the estimated demand equation we can conclude: The demand for video recorders are neither inferior nor inelastic and video recorder film is not a substitute for video recorders.
The U.S. Postal Service is facing increased competition from firms providing overnight delivery of packages and letters. Additional competition has emerged because messages can be sent via computer
In 2008, India experienced a surge inflation exceeding 11 percent, large government deficits. Distinguish between the crowding-out effect and the Ricardo-Barro effect. How are the two effects related?
Describe the basic way that the modern banking industry work(namely, fractional reserve banking). What impact can this type of banking system have on the supply of money and possibly on inflstion an
Suppose A's WTP is 20 and B's is 40. Ties are broken by coin flip and assume they are risk neutral. Consider the first price auction. Write down the payoff matrix and find all Nash equilibrium.
Raise wages than do industrial unions (automobile workers, steel workers, etc.) How would you explain this phenomenon in terms of demand elasticity?
What is the average fixed cost of producing 4 units of output? What is the marginal cost of producing the third unit of output? At what level of output does the firm encounter diminishing marginal ret
At the beginning of the course we asked the question, "Why are some countries rich and other countries poor?" Write a 1-2 page answer to this question now that you have finished the course.
The loss to consumers can be decomposed into three pieces: a transfer to domestic producers, a transfer to the government, and a deadweight loss. Use your diagram to identify these three pieces.
What is the value of the nominal money supply? (iii)What are the nominal values of deposits, currency, and reserves? (iv)What is the value of the real interest rate in long-run equilibrium?
If your uncle is maximizing his profit, what is the value of the marginal product of the last worker he hired? What is that worker's marginal product?
If the incumbent continues to produce 10 units of output, which of the following equations best summarizes the potential entrant's residual demand curve?
Consider a competitive market served by many domestic and foreign firms. The domestic demand for these firms' product is Qd = 500-1.5P. Determine the equilibrium price and quantity under free trade.
Compute the inflation rate for each year 1999-2002 and determine which years were years of inflation. In which years did deflation occur?
A number of economists are opposing the repeal of tolls on the grounds that they serve to internalize externalities. Explain this argument and discuss why the government often gets involved when findi
What is the current labor cost per car sold? Suppose that when the dealer raises the price of labor to $30 per hour, the average number of cars sold by a salesperson increases to two per day.
There are a few upcoming decisions that the Mapple Board wants your input on: a) opening new retail stores domestically, b) US pricing decisions relative to future inflation expectations.
Redraw your diagrams showing the situation at conclusion of your answer to part (a). Use these new diagrams to explain the long-run adjustments that will take place in this industry.