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Distinguish between Federal funds rate and the prime interest rate. Why is one higher than the other? Why do changes in the two rates closely track one another?
Using the utility -maximation rule as your point of reference explain the income and substitution effects of an increase in the price of a product with no change in the other product?
Discuss a situation in which both parties entering into a contract could benefit from slightly ambiguous language contained in the contract.
Determine the point price elasticity of demand for Tweetie Sweeties. Determine the point advertising elasticity of demand. What interpretation would you give to the exponent of N?
Writers' Pleasure, Inc. produces gold-plated pen and pencil sets. It has a fixed annual cost of $50,000, and the average variable cost is $20. In order to just break even, how much will the company h
The OPEC Cartel has had periods of success as well as failure. Of the following factors, which does not contribute to success in a cartel?
Analyze the various ways in which property rights encourage economic development and make at least one recommendation for improving current laws.
Find the equilibrium price and quantity as a function of the constants a,b,c and d. Impose a tax of $u per unit on this good. Show that the total amount paid by consumers will be the same regardless
What is the maximum price the country with the comparative advantage in ballistic missiles is willing to pay for a microprocessor in terms of ballistic missiles?
Explain the impact of the minimum wage on macro outcomes. Ensure your answer includes how an increase in the minimum wage might impact a business's hiring practices.
Why do firms experience diseconomies of scale as they increase production volume? How might firms "avoid" experiencing diseconomies of scale.
Identify and explain one advantage and one disadvantage in using supply-side policy tools rather than demand-side tools to combat the effects of a recession on a national economy.
The book value of the building before the structural repairs is $400,000. What has the amount of annual depreciation been in past years?
What is the specific market-failure justification for government spending on (a) public universities, (b) health care, (c) trash pickup, (d) highways, (e) police? would a purely private economy pro
Fill out a Schedule 8 form for Revenue Canada showing the CCAs for each year. Determine the total CCA over all classes for each year of the business.
Suppose a production function is given by F(k,l,)=KL^2; the price of Capital is $10 and the price of labor &15 .What combination of labor and capital minimizes the cost of production given outp
How are consumers affected in this particular market? If the government relaxed its oversight of the industry, what would be the consequences and economic impacts?
List the independent variables (up to 5) and explain why they are included. In addition, define the impact of each independent variable on the STVC?
Explore how firms in monopoly take advantage of the existing barriers to entry in their industry. Please describe and assess one barrier by using a real world example.
In 2006 they buy 75 heads of cauliflower for $225, 80 bunches of broccoli for $120, and 500 carrots for $100. If the base year is 2005, what is the CPI in both years? What is the inflation rate in 200
The Ottawa Citizen cost $0.10 in 1970 and $0.50 in 1990. The average wage in manufacturing was $3.01 per hour in 1970 and $14.19 in 1990. In each year, how many minutes does a worker have to work to
Assume that the value of g is 0.035 (3.5%). What will the value of GDP be in 2036? What does this say about the importance of policies that promote even slightly higher rates of growth in GDP?
Suppose now that 60 firms organize themselves into a monopoly. What is the equilibrium price and quantity? (The MR derived from the above demand function is MR = 20 - 2/5Q. What is the profit of the
At the end of each year you receive a $500 bonus which you place directly into your retirement fund. How much is in this account after 40 years?
Find the market equilibrium price and quantity. Explain. Calculate the profit of a firm at the point of equilibrium. Is this longrun equilibrium? Explain.