Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
Caroline eats two bananas during a particular day. The marginal benefit she enjoys from eating the second banana determines Caroline's marginal cost of the first and second bananas.
If taco Bell and KFC share facilities, they reduce fixed costs by 30%; however, sales in joint facilities are lower than sales in two separate facilities. What do these numbers imply for the decisio
Discuss why some long-run average cost curves are steeper on the downward side than others. Discuss fully. Explain the rationale and the implications of the new guidelines used by the Department of
Denise decides to spend three hours working overtime rather than watching a video with her friends. She earns $10 an hour. Her opportunity cost of working is?
What are the advantages of using capital in the production process? What is meant by the term "division of labor"? What are the advantages of specialization in the use of human and material resource
Suppose that a firm incurs a total cost of $974 when it produces 10 units and a total cost of $1,060 when it produces 11 units. It can be concluded that the marginal cost of producing the eleventh u
Predict the effect on the price of at least one related product of each of the following events: The French grape harvest is the smallest in 20 years.
Suppose that a change in the expected inflation rate leads supply and demand to adjust so that the expected real interest rate is unchanged at 3.0 percent. The tax rate is 30 percent. Initially, the
Classify the effect of each of the following as (i) a decrease in the demand for fish or (ii) a decrease in the quantity of fish demanded. Illustrate each diagrammatically.
What is the difference between moving and shifting on Aggregate supply curve curve?
The cost of production is rising and forign demand for Canadian crops is increasing. "The classic pattern of supply and demand won't work this time," the economist says. Discuss his observation.
What appears to be the major constraint that the central banks used to determine the limits of the monetary injections into the economy? Did the United States use the same or different criteria?
Consider the political argument for free trade. Which of the following BEST explains how economists feel about politics and international trade policy?
How supply has increased more rapidly than demand? In which of the two cases, if any, do you think that demand has increased more rapidly than supply? Explain your reasoning. Write your answer in es
What do you think would be the impact of Wal-Mart opening a new "Super store" in a small town in Iowa, for example? Would you defend Wal-Mart's decision?
Select a non-monopolized product or service with which you are familiar and determine how the consumption of that product or service would differ if it were controlled by a monopoly.
What is meant by the term "natural monopoly" and what are the key characteristics? Provide your own example of a natural monopoly and discuss whether or not it is fair for a natural monopoly to exis
Write a complete sentence that describes the North American Free Trade Agreement for each letter in the acrostic. Then draw and color a picture that represents the meaning of NAFTA.
Assume that each of them has only two $1 bills on hand, leaving three possiblebids, $0, $1 or $2. Write out the payoff matrix for this game , and then find its Nash equilibrium.
What is the theoretical differences between ordinary demand functions and compensated demand functions?
Explain whether each of the following events will increase, decrease, or have no effect on long-run aggregate supply. 1. The United States experiences a wave of immigration.
Calculate output, marginal cost, average cost, price, and profit at the average cost-minimizing activity level. Calculate these values at the profit-maximizing activity level.
Evaluate and explain the following statements: "The market system is a profit-and-loss system." "Competition is the disciplinarian of the market system."
In 2001, Bob's Burgers charged $1.50 for a quarter-pound hamburger with all the fixin's, and sold 7,500 of them. In 2002, although Bob raised the price to $1.75, sales of quarter-pound burgers rose
Railroad expansion in the latter half of the nineteenth century changed everything in America. Discuss how these railroads were financed. Who were the people behind the expansion?