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What is the real value of output (Q)? Now assume that the Fed increases the money supply by 10% and velocity remains unchanged. By how much would V have to fall to offset the increase in M?
After a long wait, she finally received one offer to purchase her license for $66,000. What is your opinion of the restaurateur's decisions? Would you recommend that she accept the $66,000 offer?
When ATC is calculated at Q=6, it comes out to C(Q=6)=100/6+2+3*6=36.67. Since cost is minimum at Q=6, the ATC is minimized at Q=6. What is the total cost of an output of 500?
Assuming output occurs in whole units, i.e. 1, 2,3,... at what output does the low point of ATC occur and what is the ATC at that output? Show your calculations.
Estimate that your total cost function is C(Q) = 100 + 2Q + 3.5Q2. Using this equation, answer the following and show your logic and calculations. How much is your firm's profit or loss at an output
Is the owner of Pat's Pizza Restaurant minimizing cost? Should he rent more ovens and hire fewer workers or rent fewer ovens and hire more workers? Explain.
Explain the relationship between the price elasticity of demand and total revenue. Is the price elasticity of gasoline more elastic over a shorter or a longer period of time?
What would happen to consumer and producer surplus? How much money would the government collect due to the tax? What would be the size of the resulting deadweight loss relative to the comepetitive o
Does the production function exhibit diminishing returns? If so, when does the law of diminishing returns begin to operate? Could we ever get negative returns?
Explain how an increase in the minimum wage affects the employment of unskilled workers. Ms. Smith should hire workers as long as their marginal revenue product.
(a) Forecast the index of housing starts in the United States in 1998 by exponential smoothing with w = 0.3, and w = 0.7.
Do some research on ideagoras, InnoCentive, and similar sites, and then write an analysis that shows how they impact or modify a manager's usage of the production process. 500 word minimum.
What are equations for IS and LM curves? What is equilibrium level of income and interest rate? What if mix of fiscal and monetary policies is changed.
The right decision compensatory and non-compensatory. Define them and show how does the later help the consumer in recommending a car among three brands?
As businesses downsize in a recession, they lay off a lot of people. Which of the 4 types of unemployment will then occur? Can you describe how unemployment and inflation are interrelated?
A perfectly competitive firm facing a price of $10 decides to produce 100 widgets. If its marginal cost of producing the last widget is $12 and it is seeking to maximize profit, the firm should?
Analyze the following statement, and show what would happen in the long run if such advice were followed by the Fed: "The increase in the stock market has increased people's wealth.
what would happen in the very short run to output and the real interest rate? What must happen to the LM curve and the price level to restore general equilibrium? Draw and label the graphs.
what are the short-run effects on the real interest rate and output? Assume that, when the economy is in disequilibrium, only the labor market is out of equilibrium.
How are corporate profits taxed in the United States. Earnings are taxed first as personal income then as corporate profits at the federal level.
Will their combined output of cashews be too little, too much, or just right to achieve allocative efficiency? In the long run, what will happen to the supply of cashews and the price of cashews?
Economists from the Conference Board predict that income will be rising 3% over the next year, and AB's management is planning to raise prices 2%. You expect that the number of AB motor control devi
What was the size difference between the two - the negative GDP gap? If the multiplier was 2 in that period, what was the size of the economy's recessionary gap?
Create a table showing both the origional values and the new values you have calculated. Which of the changes, (a) through (d), cause the greatest change in GDP in absolute dollars?
Suppose the government decides to increase taxes by $50 billion and to increase transfer payments by $50 billion. What effect would there be on aggregate demand?