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Give two other bundles that, with this utility function, the provide the same utility as bundle (3,2). What is the MRS for this utility function? Explain in 2-5 sentences.
If the Bank of Canada sells $100 million worth of bonds to the public in an open market operation, what is the change in quantity of money that will eventually result?
Use indifference analysis to demonstrate the income, substitution, and the total effects if good X is a non-Giffen inferior one.
Why was Mircrosoft investigated for anti-trust behavior? Do you agree or disagree that Microsoft was trying to gain monopoly power in the computer software industry?
Use the elimination of (weakly) dominated strategies to find the solution to the following game. Make a clear statement about each of the four eliminations that you make
Explain the tragedy of the commons, as it relates to pollution. What is the global-warming problem?
The demand for a monopolist's output is 3000/(p + 1)2 where p is her price. What would the equilibrium price and quantity be in a competitive industry?
The Federal Reserve pursues an expansionary monetary policy, how might the expansionary monetary policy affect the extent of crowding out in the short run?
when the unemployment rate equals the natural rate of unemployment, instead of when the unemployment rate equals zero? Elaborate and explain carefully.
The prod level if the producer operates in a monopolistic competitive market where the price of software at each possible qty is also listed above..why?
If the first worker produces five custom picture frames a day, and the second worker produces five additional custom picture frames a day, it is clear that diminishing marginal returns have not yet
What would the point elasticity of demand be at P = 75? How about at P = 100? If your demand changes to Q = 100 Pb, at what value of b would your entire demand curve become unit elastic? Why?
What was the impact on the supply and demand of labor on one sector of the labor market? Explain the factors that affected labor demand and labor supply in the chosen historical example.
Since nominal GDP = P x real GDP, we can convert nominal GDP to real GDP using the formula real GDP = nominal GDP/P. So we have: 260/1.8= 144.44.
Whose interest should be the paramount concern of government trade policy-the interests of producers (business & their employees) or those of consumers?
A substitute good goes up in price, and your costs of production increase. What new decisions will you make regarding production levels and pricing for your Widget facility?
Details: The kinked demand curve in an oligopolistic market is represented by the following: P = 100 - Q and P = 120 - 2*Q
Suppose that Kiribati can produce 1000 tons of breadfruit or 500 tons of fish, and that Tuvalu can produce 750 tons of breadfruit or 1875 tons of fish. What is the opportunity cost of 1 unit of fish
Describe the fiscal policy that will already be automatically operating, as well as the appropriate discretionary fiscal policy that the government should adopt, given the above situation.
Explain what could be done to encourage people to spend more so as to increase aggregate demand and invariably, create employment possibilities?
Using the following table, calculate the 95% confidence intervals for the expected annual return of the four different investments. Assume the data in the table represents the true expected return
What is "Elasticity?" Identify products which have an elastic demand. Identify products which have an inelastic demand. Identify products with a unitarily elastic demand. Explain what this means for
Suppose a firm has a patent on one of its products whose sale generates $32,700/year more revenue than production costs. If the annual interest rate is 20 percent, what is the market value of this p
Do you believe that this could be a realistic solution for an entire country? Discuss the strengths and weaknesses of such an application. In your answer, include a discussion of the three types of
find the firm's optimal quantity, price, and profit (1) by using the profit and marginal profit equations and (2) by setting MR equal to MC.