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However elasticity value for years 2008-2009 and 2009-2010 are postive. Does it mean that demand curve becomes upward sloping during these years? If needed use graphs for the explanation of your answe
Explain whether price elasticity of demand is likely to be elastic or inelastic. Base your answer on three determinants of elasticity: Determine the approximate proportion of income spent on the Toyo
What is the impact of world oil prices increase on the demand for Toyota cars? Explain and illustrate your answer. Imagine that Toyota Company developed a new production technic which reduces costs
How has the recent natural disaster in Japan influenced the supply of Toyota automobiles? Illustrate the effect using the demand and supply model.
Calculate a four-period moving average forecast for September. Also evaluate the quality of the four-period moving average forecasting model by calculating the root-mean-square error for the data se
You are the manager of a monopolistically competitive firm, and your demand and cost functions are givrn by Q=20-2P and C(Q)=104-14Q+Q^2. What long-run adjustments should you expect? Explain?
Given these observations, is the pizza industry most likely a monopoly, perfectly competitive, monopolistically competitive, or an oligopoly industry?
What are the monetary policies required to fight unemployment? What about those required to fight inflation? What are some of the downside risks and potential problems involved when using monetary
The Rothschild index is significantly greater than zero. based on this information, which market structure best characterizes the industry in which Forey competes? Explain.
ABC US marks up the widgets leaving the US for Cayman by 35%, and Cayman applies a mark-up of 35%. From the profit ABC US generates, it must pay 20% in taxes. What does ABC Cayman pay for the shipme
When there is an increase in optimism regarding the future and a concomitant increase in autonomous investment. Specifically, what happens to output, aggregate demand, labor, price and interest.
Contrast two or three key economic factors for your country with the U.S. economy, and comment. For example, if per capita GDP is significantly lower in your country than in the United States, what
What is the relationship between the MPC and the MPS? If the MPC increases, what must happen to the MPS? How is the MPC related to the consumption function? How is the MPS related to the saving func
What price and quantity of computers should you produce to maximize your firm's profits? What long-run adjustments should you anticipate? Explain in 2-4 sentences.
Explain how a trade can benefit both of them. Illustrate the trade by using an Edgeworth box diagram, showing that both consumers can reach higher indifference curves.
Which of the following would be most likely to cause the demand for Miller beer to increase? A. an increase in the price of Budweiser beer.
the government wants to stimulate the economy. By how much will aggregate demand at current prices shift initially (before multiplier effects) with A $50 billion increase in government purchases?
The base production control level is 20. Derive the effect of EPAA on the supply decision of a domestic supplier of crude oil when its marginal-cost curve is represented by?
Monetary neutrality means that a change in the money supply does change real GDP. Most economists think this is a good description of the economy in the long run but not the short run.
Several years to acquire approval of drugs. Should the lie of drug patents be extended to 20 years after the approval? What would be the costs and benefits of this extension?
With demands Q1=800-0.2p, Q2=400-p and Q3=700-0.4p respectively. Find the optimal price-quantity if the firm is not able to price discriminate.
What is the deadweight loss in both markets if the price of a crate of fresh oranges is raised to $200 and the price floor is sustained in the processed market at p obtained in (i)?
The mundell-fleming model takes the world interest rate r* as an exogenous variable. Let's consider what happens when this variable changes. what might cause the world interest rate to rise?
Which model, the supplier-induced demand (SID) or the McGuire quantity-setting model, is better to explain the defensive medicine? Explain your answer briefly.
Find the derivatives of each of the following functions, and their points of maximization or minimization if possible. TC = 1500 - 100 Q + 2Q2, ATC = 1500/Q - 100 + 2Q.