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Under what elasticity conditions would the following be true: "Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage"?
Qs= 80,000 + 5,000P, where Qs is the quantity of widgets supplied per month and P is the price of a widget. What is the new equilibrium price and output in the short run for both the industry and each
Suppose that there is only 1 firm producing TVs which are durable goods and which have 0 marginal production costs. Calculate the prices the selling monopoly charges for TV sets in periods 1 and 2.
Describe how a developing/emerging economy can benefit from trade with a wealthy country even if it has no absolute advantages.
When the product is produced in foreign country, and lead negative external cost to the foreigners, should we consider the external cost a cost or transfer if the affect people in foreign country ha
Provide the RBC explanation as to why money is leading and pro-cyclical. Be sure to include a money market diagram, an IS-LM diagram, and an AS/AD diagram.
Calculate the marginal revenue product at each level of labor input if output sells for $4 per unit. If the wage rate is $15 per hour, how much labor will be hired?
What would happen if CPI decided to raise prices unilaterally in this toothpaste market? Could CPI benefit by advertising in this perfectly competitive market?
How would a downward change in the money supply affect you personally? How would it affect your career? What impact would rational expectations have on your decisions in this situation?
Estimated its marginal cost function to be as follows: MC=.006Q. What would happen to the profit maximizing level of output if the market price suddenly rose to $54 per case.
Identify at least one important Entrepreneur that you would consider an "Entrepreneurial Legend" and state why you consider the person to be (or have been) exemplary.
Discuss the positive and negative effects of either a sudden increase or decrease in the number of competitors on prices in the long run.
Prepare five-year revenue and return on sales objectives. Justify your objectives. You should be able to derive an estimated initial revenue position from the case.
What is the demand function and hence the demand curve for crime? (Hint: From the utility function we know that the marginal benefit of a crime to the criminal is b while the corresponding marginal
Do you think the net effects of trade blocs are good or bad for world trade? Why? How do the efforts of the WTO relate to these trade blocs?
How did each social group in that society fair during that time (how do you know)? What happened to that society (what made it go away and why)?
Why would firms care so much about these regulations? Can we expect to see the NYSE and NASDAQ try to buy or merge with other foreign stock exchanges in the near future?
Assume the demand for Coke is a linear line. Would the elasticity of demand be elastic or inelastic at 75 cents a can? c. At $2.00 a can?
How responsive to demand is each in the market period? Describe what a manufacturer of each product might do in the short run to increase production. c. How does the long run differ for these produc
He proposed an increase in ethanol produced from corn and the stalks and leaves from corn and other grasses. What is the likely impact of these two events on food prices in the United States?
Describe what will happen in this market as it moves to a new equilibrium. If a hard freeze eliminates Brazil's premium coffee crop, what will happen to the price of premium coffee?
If the total fertility rate is 1.25 and the only way people die is of old age, how big will the fourth generation (the great-grandchildren) be?
Identify a particular tax of your choosing to post, then concisely defend your view on whether that tax meets Adam Smith's criteria of a "good tax" and whether it is both efficient and equitable.
If the product price is $65 at its optimal output, exactly how many units should be produced to maximize profits or minimize losses? How much will the profit or loss be? Show all calculations.
The finance department predicts dropping the price by $1.00 will increase sales by 15,000 to 60,000 units next year. Which action should you take next year (increase advertising or drop price)?