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The fourth student added 50 newspapers to total output. The capital cost is fixed at $50 per shift. Calculate the total fixed, total variable, and total costs of folding and bagging 300 newspapers.
Which of the following factors cause a movement along the demand curve?
Evaluate how the following situations will affect the demand curve for iPods. Income statistics show that income of 18-25-year-olds have increased by 10 percent over the last year.
Derive the necessary conditions for consumer equilibrium by both (1)Cardinal and (2)Ordinal approaches. Reconcile (3) the apparent differences in the two approaches.
A tariff on imports of a product hurts domestic consumers of this product more than it benefits domestic producers of the product. Do you agree or disagree with this statement, and why?
Imagine that there are two people who own houses on a lake and that cleanliness of the lake is a public good from which they share benefits. What is the optimal number of levels of improvement?
In the New Orleans metropolitan area in August 2005, the labor force was 634,512 and 35,222 people were unemployed. In September 2005 following Hurricane Katrina, the labor force fell by 156,518 and
Discussion on game theory (concept, basic application for planning)and how game theory is used to model behavior; types of games and how they are played.
Find the optimal crude oil allocation in the proceeding example if the profit associated with fiber were cut in half, that is, fell to $0.375 per square foot.
Draw a simple T-account for First National Bank which has $5,000 of deposits, a required reserve ratio of 10 percent, and excess reserves of $300. Make sure you balance sheet balances.
Discuss the issues related to the problems facing Native American youth who leave the reservation. In contrast, discuss the problems of Native Americans who choose NOT to leave the reservations.
First, draw a simple diagram depicting the effect of this influx of workers from the military. (iii) the size of civilian employment in comparison to this flood from the military, graph these events
If the net benefits of a particular environmental program were found to be regressively distributed among different income groups, would this be sufficient grounds to oppose the program?
What was the yield-to-maturity (YTM) of the bond if the investor bought it on January 1, 1991? On July 1, 1998, the investor bought the bonds for $922.38. What was the YTM at that date? What was the
Consider a linear industry demand equation: P=20-2Q, where P is the unit price in dollars and Q is quantity in million units. The cost structure in the industry is given by the constant unit and mar
Using aggregate demand, short-run aggregate supplies, and long-run aggregate supply curves, explain the process and causes by which each of the following economic events will move the economy from o
What are some factors that might affect the opportunity cost of homemade lunches? How would changes in the opportunity cost affect the strength of the income effect vs. the substitution effect?
In the year, 2005 Janice Quinn sells a five-year-old car to Used Car, Inc. for $3,000. In the same year, Used Car, Inc. resells the car to Ima Goner for $3,500. What is the contribution of this tra
Provide additional examples of health care products or services that have similar variation in their price elasticity of demand-or no variation in their price elasticity of demand.
Which group of economic decision makers plays the leading role in the Economic System? Mention two types of resources and how are they paid for in the economy.
Since the 1980s, China's output per person has increased tremendously. Which of these possible contributors to economic growth in China is a good example of a positive supply shock?
Suppose that a firm's only variable input is labor. When 50 workers are used, the labor is 50, and the marginal product of the 50th worker is 75. The wage rate is $80, and the total cost of the fix
The size of the labor force in a community is 500, and 400 of these folks are gainfully employed. In this community, 100 people over the age of 16 do not have a job, and are not looking for work. In
Suppose that, 2 years after the issue, the going interest rate had risen to 13%. At what price would an investor buy the Ford bonds? Today, the closing price of this bond is $783.58. What is the curr
In 2007, the 2500 units of F produced sold for $7 per unit, and the 6,000 units of C produced sold for $3 per unit. Calculate Real GDP for 2007, assuming that 2006 is the base year.