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If the inverse demand function is p=a-bQ and the inverse supply function is given by p=c+dQ, show that the incidence of a specific tax t per unit falling on consumers is b/(b+d)=n/(n-e).
Compute the demand for money for each of the following interest rates when income is equal to $11,940, $12,000, $12,060, $12,120, and $12,1280.
How come a newspaper vending machine can be opened easily (i.e. take as many as you want) but a Coke vending machine is tough to open (i.e. drop one can at a time)?
Expecting that wool prices would remain high, wool producers raised a lot more sheep. Did this result in a shift to the right in the supply curve for wool? Why or why not?
Calculate the contributions to GDP of these transactions, showing that all three approaches give the same answer.
For each of the following cases, calculate the point price elasticity of demand, and state whether demand is elastic, inelastic, or unit elastic. The demand curve is given by QD = 5,000 - 50PX.
Evaluate Rusal's prediction by using the demand and supply equations to make a prediction about the movement of world aluminum price?
calculate the monthly rate of inventory growth in the global aluminum market using the given demand and supply equations for the world aluminum market.
On a secong set of axes, sketch another community indifference curve tangent to the fairly steep portion of another concave production frontier.
A competitive industry hires 1000 worksers. The 1000th worker adds $500.00 a week to their employer's revenue. If a monopoly took over the industry, then the 1000th worker would likely?
Some people claim that the economic way of thinking does not apply to issues such as health care. Explain how economics does apply to this issue by developing a model of an individual's choices.
Why does the saying, "no taxation without representation"make sense for public goods but not for private goods? Explain the mechanisms by which individuals can "protest" against taxes.
The occurence of sun spots has increased, so has the rate of overall inflation. If any of these economist based this observation on a short-term forecast of inflation, he/she would be?
What other suppliers might face a downward-sloping demand curve and what implications does this have for their advertising budget as compared to suppliers with horizontal demand curves?
Organize the above data into the appropriate categories for the current and capital accounts; determine the current account balance, the capital account balance, and the official settlements account
For each of the following draw well labeled graphs that illustrates the likely effect on the MARKET for EGGS. Indicate in each case the impact on equilibrium quantity (Q*) and equilibrium price (P*)
Discuss what the economist intends to teach you about cost using this cost function. The economist for the "Grand Corporation has estimated the company's cost function, using time series data.
In addition to this technological breakthrough, the article indicated that consumer incomes are expected to grow over the next two years as the economy pulls out of recession? Explain.
If the perfectly competitive market supply of pork bellies shifts from QS,93 = 250 + 50P to QS,94 = 400 + 40P, and the market demand is given by QD = -10,000 - 200P, then the change in equilibrium
The creation of wealth all across the socioeconomic spectrum. But what does that mean to the believer from a Biblical worldview?
Wal-Mart is often criticized for importing many of the goods they sell. Why do they buy goods from foreign markets? 4. Critics claim that this practice costs American jobs in the long run. Do you ag
You expect (based on internal forecasts) that the quantity you will be willing and able to provide to your customers will decrease from 150,000 to 138,750 per month. What is the effect on total reve
Suppose that he marries her the following year. Other things equal, which of the following would be true about the reported official GDP the following year?
Strategic advantage for a US firms such as Apple. Define the term opportunity cost. What may be the impact of greatly lower labor costs on opportunity costs for Apple?
Option B matures in 2 years and pays $1,400 two years from today. If the discount rate is 10%, which investment option is the better deal?