Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
A firm uses two inputs, labor and capital. The price of capital is $5 per unit; the price of labor is $7 per unit; and the marginal product of capital is $15.
Suppose a gardener produces both green beans and corn in her garden. If the opportunity cost of one bushel of corn is 3/5 bushel of green beans, then the opportunity cost of 1 bushel of green beans
Based on your own Internet research, identify one example each of a direct government spending, taxation, and transfer initiative in the 2009 Stimulus package.
Which of the following is the most correct statement about the relationship between inflation and unemployment?
If you go to Florida, the airfare, hotel, food, and miscellaneous expenses will total about $700. Whats your opportunity cost of going to Florida?
Determine the individual firm's Marginal Cost, Averaged Cost and Average Variable Cost functions, and use this to calculate industry supply.
When discussing the maximization of utility, regardless if whether you chose to work more hours or fewer when offered a higher hourly wage, you could not be worse off than you were at a lower hourl
Explain the concepts of "Nash equilibrium" and the "dominant strategy" in Game Theory from the perspective of Prisoner's dilemma game. Cite 1 or 2 examples.
Explain how managers can use price elasticity to discriminate or charge different prices among different groups of customers.
An oligopolist, the Bramwell Corporation has estimated its demand function and total cost functions to be as follows: Determine the maximum revenue and the maximum profit for the oligopolist &n
Explain why the incomes of these farmers were likely to rise as transportation costs fell. Use the concept of comparative advantage in your answer.
Suppose a teenager has $20 and likes both rap music (R) and country music (C) with a set of preferences so that U = C1/2R1/2. Suppose that the iTunes price of a rap music song is and the price of a
Label the points representing choice C and choice D. If you are at choice C, what is your opportunity cost of increasing your chemistry score?
If the market is made up of 100 individuals with demand curves identical to Mr. Smith's, what will be the point and arc elasticity for the conditions specified in parts a and b?
What is the effect on the market for an hour of babysitting services in Middling today, during this increased birthrate? Explain the change, if any in the price of babysitting, and in both the amoun
Find the equation for the linear demand curve that fits this information. Find the equation for the linear supply curve that fits this information. What would the new equilibrium price and quantity be
How much would the price have to be to sell 1,800 caps? Suppose ABC were to use the caps as a promotion. How many caps could ABC give away free?
What is the FOMC doing? and What is the current Federal Funds Rate? This only needs 80 words or less for discussion!
Compare and comment on the differences you see for your two countries: What factors seem to be most important in determining development and why?
What is the effect on labor demand and labor supply, choosing 1 topic from the following list: (1) Minimum wage, (2) outsourcing, (3) immigration, or (4) technological advances? Select a specific i
What is the expected effect on your food consumption as a whole? Is this an example of the income effect, the substitution effect, or both? Why?
Provide specific examples of how to go about making the difficult decisions you must make in the near future as well as an overall blueprint of action.
Normal people are willing to pay $250, and their desire to purchase does not vary with time. Ignore the time value of money and compute the optimal pricing scheme of the iphone, Assume that there ar
Locate recent articles in the New York Times or Wall Street Journal in which economists are quoted using positive and normative statements. Provide one quote and its context for both a positive and
If that price ends up being the market price and if the normal rate of profit is 10 percent, then how big will each firm's accounting profit per unit be?