To: Economyst - Can you please help?
First, lets re-write the demand equations, to be P=f(Q). First class: Pa = 4200 - 2Qa MRa = 4200 - 4Qa Excursion: Pb = 2200 - .25*Qb MRb = 2200 - .5*Qb a) set MC = MR in each equation, then solve for Qa and Qb. I get Qa=1000, Qb=4000. Ergo, Pa=2200, Pb=1200. b) Undoubtedly, th...
Advantages. 1) You get to ask exactly what you want, 2) you can control measurement error, 3) you have proprietary ownership. disadvantages, 1) Its a whole lot of work; a good survey design is lot more difficult than it looks. 2) unless you have a reputation for survey work, y...
I presume that AE means aggregrate expenditure. I gotta go with a). If net exports is always zero, the aggregate expenditure should not change a bit.
Hiring a printer for $20 means getting 20 more books, or $1 per book. Adding a press for $5000 means getting 1000 books or $5 per book. Hmmmmm, What do you think the publisher should do??
What is their basic economic questions??
a) could be short run, could be long run. Not enough information to tell. b) MC is the first derivitive of the Total Cost. So, MC = 2*Q c) Fixed cost are cost that the firm incurs, regardless of the level of production. In your problem, FC=100. d) maximize where MC=MR. Here 2*...
OK, lets start with the conventional shapes of the MC and AVC curves. The AVC curve has a U shape to it. At low levels of production, the firm can enjoy some returns to scale. But after a while, the law of diminishing returns kicks in, and costs begin to rise. This latter effe...
take a shot, what do you think. Hint: true, true, true
Take a shot, what do you think? query. By Q2, do you really mean Q^2?
Try here for US banks in the Federal banking system: http://www.federalreserve.gov/monetarypolicy/reservereq.htm State-chartered banks have their own requirements, which vary by state -- good luck with that
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