Start Discovering Solved Questions and Your Course Assignments
TextBooks Included
Active Tutors
Asked Questions
Answered Questions
In a well-developed five-to-eight sentence paragraph, discuss the difference between GDP and GNP. Your essay should include a definition of both, specific examples of what could affect each, and a d
a.) What is the relationship between economies of scale and a natural monopoly? b.) Why is the level of output at which marginal revenue equals marginal cost the profit-maximizing output?
Calculate the elasticity of demand when the price of a deluxe cheeseburger raises $2.50 to $3.00 which causes sales to fall from 175 deluxe cheeseburgers each day to 125 deluxe cheeseburgers each da
If a new home can be construed for $150,000, what is the opportunity cost of federal defense spending, measured in terms of private housing? (Assume a defense budget of $600 billion.)
Find an example of a current department store sale in your own local market. Describe the sale, what it involves and explain what the motivation for it.
You have just learned that due to an upturn in the economy, consumer incomes are expected to rise by 5 percent next year. How will this event affect your ordering decision for PVC pipe, which is the
The US in particular has imposed trade embargoes on Vietnam, Iraq, Cuba, North Korea, Libya and others. To what extent do these embargoes work? Are these embargoes more deadly than, say, an outright w
Think about the impact of North America Free Trade Agreement(NAFTA) and Central America Free Trade Agreement(CAFTA) on the US trade. Is US having trade deficits or trade surplus with Canada and Mexi
Develop a linear programming model that will enable HTS to allocate technician time between regular customers and new customers.
If the promotional budget is limited to $18,200, how many commercial messages should be run on each medium to maximize total audience contact?
Consider the total cost function for a multiproduct production function that produces two goods,
What is the price elasticity of demand, income elasticity of demand, advertising elasticity of demand, and what is the optimum level of advertising for the firm.
Suppose that income M = $100, and prices are p 1 = $1 and p 2 = $2, and consider the following utility function: U = (x 1 + 2)(x 2 + 3). Write out the Lagrangian function.
Derive an expression for average cost. Derive an expression for marginal costs. Is there any range of production characterized by scale of economies? At what production level are scale economies exh
Price elasticity demand is? Income elasticity of demand is? Advertising elasticity of demand is? The optimum level of advertising spending for the firm is?
Assume the market demand for wheat may be written as Q = 45 - 2p + 0.3Y + 1pb where Y refers to income and pb refers to the price of barley. Assuming that wheat and barley both sell for $1, and inco
Average sales have been eighty-five cases per week. The demand for week 5 was ninety cases. The company uses α = 0.20 and β = 0.10. Make a forecast including trend for week 6. The smoothi
Suppose a country has a money demand function (M/P)^d = kY, where k is a constant parameter. The money supply grows by 12 per year, and real income grows by 4 percent per year. What is the average i
Suppose that the price of flour used to produce bagels increases. Hence the equilibrium price of a bagel ________ and the equilibrium quantity ________.
What changes in the Ants' resources do we see through the film? Are the Grasshoppers entrepreneurial talent, or are they just annoying?
Suppose the price of apples goes up from $20 to $25 a box. In direct response, Goldsboro Farms supplies 1400 boxes of apples instead of 1000 boxes. Compute the coefficient of price elasticity (midpo
Explain the following almost universal features of late-night infomercials (a $2 billion industry) using reference-dependent preferences by answering our.
A 20 year bond with face value of $5,000 offered for sale at $3,800.The nominal rate of interest on the bond is 7%, paid semi-annually. This bond is now 8 years old (the owner has received 16 semian
Explain the difference between Deflation and Disinflation. Explain why one of the them brings positive effects to the economy and the other negative effects.
Suppose you manage a grocery store. If peanut butter is an inferior good, what do you suppose would happen to the price and quantity of peanut butter as incomes fall during an economic recession?