MICROeconomics - Monopoly
a) I disagree with your MC. Constant returns to scale (and no fixed costs) implies AC=MC. So, I think MC=10000 b) I disagree. Always Always Always, maximize by setting MC=MR. So, for the domestic 20000-40Yd = 10000. Solve for Yd. I get Yd=250. (As a check, plug 250 into the de...
Income (I) elasticity is (%change Q)/(% change I). So, you have (%change Q)/(10%) = 2.0 So, (%change Q) must be......
Money and Banking
Do a little research, and then take a shot. What do you think? Hint: broadly speaking, what are the Fed's monetary goals? and how does the Fed achieve it's goals? and are there unintended consequences?
Did you mean 10 principles of economics by Mankiw? Hint: Virtually every economic current- events article can relate to trade-offs and opportunity costs; two of Mankiw's principals. I suggest you start there.
What exactly do you need help on?
Eric: do you have a question? Aklove: Do a little research, then take a shot. What do you think? I or other will be glad to critique your answers.
A fascinating question. Do a little research, then take a shot. What do you think. Hint: Think trade and barriers to trade, who holds the wealth, and what does the wealthy person do with his wealth.
The formula is MV=PQ, where PQ is the price level time output of goods and services. PQ is nominal GNP. So if M is fixed and V is fixed and Q is 5% higher, what must happen to P. That is MV = PQ = (zP)*)*(1.05*Q) -- solve for z
Without a zero, there must be 9^8 number of possible digits. Further there must be 8^8 possible digits that exclude both zero and 7. So, the probability at at least one seven appears is 1.-((8^8)/(9^8))
I dont think I fully understand your question. My answer would be "as efficiently as possible, like everything else that is produced."
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