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By law, the public transportation authority must take steps to eliminate its operating deficit. (a) is asking should the transportation authority increase or decrease the price per ride based upon t
What will be your rough forecast? How will you consider the structure of the fresh salmon industry to calculate the forecast? Will you advise the firm to enter the industry?
Cyclical unemployment of 2 percent, what is the natural rate of unemployment? Where is the economy operating relative to its potential GDP?
Would you purchase the painkiller if headache relief provides you with $50 of actual benefits because of an important job interview? Why or why not?
Production function concepts. indicate whether each of the following statements are true or false. explain your answers decreasing returns to scale and increasing average costs are indicated when EQ&l
How (to whom) do prices ration goods and services? (Who gets the goods and who does not?) On what other bases can goods and services be distributed?
Bob takes 40 minutes to fry a chicken and 2 minutes to toast a slice of bread. His brother Ed takes 20 minutes to fry a chicken and 5 minutes to toast a slice of bread. Will the brothers gain if the
What are the opportunity costs of going to summer school that you don't pay explicitly? Explain. What is your total opportunity cost of going to school this summer? Explain your answer.
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Mexico does not have an absolute advantage in producing sugar over all of the other sugar producing countries. Does this fact mean that Mexico should import its sugar from the other countries?
Draw a diagram to illustrate the business cycle and in words explain what the business cycle is. Illustrate on your graph and in words all important points and areas on the business cycle.
Did you consider size, location, price, reputation, Internet services/access, library services, sports, job placement, and/or selection of courses offered? What factors were most important to your c
Calculate the dominant firm's output (X) and price (P) at its profit-maximizing equilibrium. [In case you have no calculus: MR = (120 - 6X )/4 ]
Which of the following is NOT correct? That is, which is false? The willingness of a firm to spend a large amount of money on advertising can signal the quality of the product.
Analyze the various ways in which property rights encourage economic development and make at least one recommendation for improving current laws.
The inflation rate to be 3% and actual inflation is 5%.Calculate the expected real interest rate and the actual real interest rate.
Give an example of an organization or business in your area that performs the "place" function, and explain why you picked this organization/business.
Determine whether the stock market should be regulated to the extent allowed by the Act. Include the potential impact of such regulation, or the possible need for even more regulation.
Suppose you elasticity of demand for your parking lot spaces is -0.5, and price is $20 per day. If your MC is zero, and your capacity at 9 A.M. is 96% full over the last month, are you optimizing?
What is the difference between the short-run and the long-run for a perfectly competitive firm in terms of costs and profits?
The expected value estimate is 1.5 million. The price distribution is believed to be approximately normal. What is the probability of receiving a price less than 1.2 million?
Explain how it is possible for one of two people in a two-good economy to have an absolute advantage in producing both goods, but trade can still benefit both people.
Jake takes 40 minutes to fry a chicken and 2 minutes to toast a slice of bread. Calculate each brother's opportunity cost for one hour of work. Who has a comparative advantage frying chicken?
Corporate profitability declined by 20 percent from 2008 to 2009. What performance percentage would you use to trigger executive bonuses for that year? Why?
Explain several dimensions of the shareholder-principal conflict with manageragents known as the principal-agent problem.