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Knowing the current state of the economy, what effect, if any, do you think fiscal policy had on the changes to these line item spending amounts? Explain in 2 paragraphs, cite your source.
Suppose that Chenyu expects his income to be $50,000 per year until she retires. In addition, he has accumulated $250,000 in wealth. Calculate his annual level of consumption.
Explain the relationship between each of the following pairs of concepts: The elasticity of demand for a product and the elasticity of demand for the labor that produces the product
Suppose that permanent income is calculated as the average of income over the past five years; that is Yp=(Y1+Y2+Y3+Y4+Y5)/5. If you have earned $20,000 per year for the past 10 years, what is your pe
How many number 6 screws should Lila order at a time if she wishes to minimize total inventory cost? What would the average inventory be? What would the annual holding cost be?
The quantity demanded will increase to 3 if the seller lowers the price to $14, what is the seller's marginal revenue from selling 3 units of pineapple?
If the firm facing the demand curve P = 10 - Q still has zero marginal costs and is now a perfect price discriminator instead of a single price monopolist, what will profits be if fixed costs are 12
The PPI is often regarded as a warning sign of inflation: because producers are more likely to have monopoly control over prices
The random-walk hypothesis (the permanent-income hypothesis with rational expectations) with no binding borrowing constraint?
The total cost function of firm 1 is T C (q1) = 0 and the total cost function of firm 2 is T C (q2) = 0. Solve for the Reaction Functions of firms 1 and 2.
Find the equilibrium price and quantity in the market for potato chips. Compute the consumer and producer surplus (or show what these are in a sketch that represents the situation in the market).
Derive the necessary conditions for an optimum using the Lagrangian. (2) Prove that MP K/ r= MP L /w in the optimum, and explain intuitively why this equation holds.
Draw the initial endowment, as well as a few indifference curves of Arnold and Brigitte in an Edgeworth box. Prove using the Edgeworth box whether or not the initial endowment is Pareto efficient.
Calculate profit for each quantity. How much should the firm produce to maximize profit? Can you tell whether this firm is in a competitive industry? If so, can you tell whether the industry is in a
Denote the number of units produced (and sold) by firm 1 by q1 and the number of units produced (and sold) by firm 2 by q2. Express the inverse demand curve as a function of q1 and q2.
Offered discounts, as shown in the followinf table. which of the two suppliers should be selected if Thaarugo wishes to minimize total annual inventory cost? What would be the annual inventory cost?
How do individual firms in a perfectly competitive industry respond to an increase in the market demand for the product? Would advertising by individual firms in this type of market provide any ben
What happens to the dollar price that a U.S. (a) importer pays and (b) exporter receives if prices are agreed in euros and the dollar then appreciates by 10 percent with respect to the euro?
Jae's construction company has the following short-run cost function: q3 - 10q2 + 36q. What level of output will minimize the average cost? What is the AC at this point?
They sell many finished products abroad. Since they are happy about a low dollar, what must be true about the proportions of Caterpillar's imports and exports?
Determine the aggregate economic effects of the combination of the shock to the economy and the government's response to it."
Congestion cost of cars is E(Q) = 400 + 0.1Q. What is the socially optimal output of cars? At what price would marketable permits to produce that number of cars trade?
However, so that it loses $5,000 over those months, and just breaks even over the year as a whole. Wouldn't the restaurant do better by staying closed out of season?
If the person must pay 20 percent of any capital gain in taxes, which of the following is the after-tax real capital gain (in 2002 dollars) on the land?
In 2003, the money supply was $105 billion, and real GDP did not change from its level in 2002. What was the approximate nominal interest rate in 2003?