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September 15, 2014

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Recent Homework Questions About Economics

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economics
Suppose that for the firm below, the goods market is perfectly competitive. The market price of the product the firm produces is $4 at each quantity supplied by the firm. What is the amount of labor that this profit-maximizing firm will hire, and what wage rate will it pay? ...
Monday, April 16, 2012 at 9:08am

Economics
5. A firm's marginal cost of production is constant at $5 per unit, and its fixed costs are $20. Draw its total, average variable and average costs. Marginal Cost (MC): $5 per unit Fixed Cost (FC): $20 Total Cost (TC): $25 Average Variable Cost (AVC): $5 FC is always going...
Sunday, April 15, 2012 at 10:49pm

economics
one of the things that works to make sure consumers keep getting better products at better prices is
Sunday, April 15, 2012 at 8:46pm

Economics
1. The employees of Abs "R" Us, which includes 12 fitness parlors in and around the metro area, feel they can improve the performance of the company. This would be called a ______ buyout. A. Leveraged C. Negotiated B. hostile D. Management Answer: A 2. According to ...
Sunday, April 15, 2012 at 12:52pm

Economics
1. The employees of Abs "R" Us, which includes 12 fitness parlors in and around the metro area, feel they can improve the performance of the company. This would be called a ______ buyout. A. Leveraged C. Negotiated B. hostile D. Management Answer: A 2. According to ...
Sunday, April 15, 2012 at 11:16am

principles of economics
four companies produce virtually all breakfast cereal. how might this concentation of market power affect market outcomes? what should the government do, if anything?
Friday, April 13, 2012 at 9:36pm

Economics
Can someone help me find good links to statistics of welfare in Canada such as the number of people who are dependent on it, how much it is abused, and the reduced labour output?
Thursday, April 12, 2012 at 6:46pm

Economics
An increasein governemtn expenditure in increasing GDP when it is financed by: a) rasing taxes b) slling governemtn bonds to the general public c) selling governemtn bonds to the central bank d) selling government bonds to the commercial banks e) both c and d The right answer ...
Thursday, April 12, 2012 at 1:43pm

Economics
The price of cranberry juice suddenly increases. As a result, Glenda begins drinking more grape juice, which is less expensive, but tastes just as good to her. In this case, Glenda’s elastic demand is due to A. availability of substitutes. B. relative importance. C. ...
Thursday, April 12, 2012 at 10:45am

Economics
Due to an increase in her rent, Isa needs to cut back her spending on other items. Which of the following types of goods will Isa consume less of? A. substitutes B. normal goods C. inferior goods D. complements
Thursday, April 12, 2012 at 10:45am

Economics
How does an increase in an excise tax on cars affect the supply of cars? A. More cars will be made. B. Fewer cars will be made. C. Supply will stay the same. D. Supply will increase.
Thursday, April 12, 2012 at 10:36am

Economics
Which is a fixed cost? A. rent B. labor C. raw materials D. heating fuel
Thursday, April 12, 2012 at 10:35am

Economics
A music store holds a half-price sale on all CDs. During the sale, people buy more CDs than usual. What does this event show? A. inelasticity of demand B. the substitution effect C. the law of demand D. the income effect
Thursday, April 12, 2012 at 10:35am

Intermediate Micro economics
A firm with a kinked demand curve experiences an increase fixed costs. Explain how the firm's price, output and profit change.
Wednesday, April 11, 2012 at 11:00am

economics
Suppose that a business has developed a very high-quality product and operates more efficiently in producing that product than any other potential competitor. As a consequence, at present it is the only seller of this product, for which there are few close substitutes. Is this...
Tuesday, April 10, 2012 at 10:16am

economics
A firm that sells e-books – books in digital form downloadable from the Internet – sells all e-books relating to do-it-yourself topics (home plumbing, gardening, and so on) at the same price. At present, the company can earn a maximum annual profit of $25,000 when it...
Tuesday, April 10, 2012 at 7:10am

Economics
Introduction to Economics: Explain why scarcity and choice are basic problems of economics?
Monday, April 9, 2012 at 5:16pm

Economics
Introduction to Economics: Explain why scarcity and choice are basic problems of economics?
Monday, April 9, 2012 at 4:17pm

business
Revise sentence for better understanding/communication 1.Business has an inordinate influence on governmental operations. 2. Our expectaions are that there will be increasement in commodity value. 3. Can we assertain the types of customers that have a predisposition to utilize...
Monday, April 9, 2012 at 1:26am

Economics: Am I right?
I am completely stuck on these two questions. I have read my chapter, but I am still doubting that I got the answers correct. 1.A decrease in aggregate demand causes a decrease in ______ only in the short run, but causes a decrease in ______ in both the short run and the long ...
Sunday, April 8, 2012 at 5:08pm

economics
am completely stuck on these three questions. I have read my chapter, but I am still doubting that I got the answers correct. 1.A decrease in aggregate demand causes a decrease in ______ only in the short run, but causes a decrease in ______ in both the short run and the long...
Saturday, April 7, 2012 at 6:43pm

economics
1) What is the key theory for understanding the politics of information?
Saturday, April 7, 2012 at 12:42am

economics
What is one advantage of a centrally planned economy? A. low unemployment due to guaranteed jobs B. high levels of consumer satisfaction C. quick adjustment to changing conditions D. incentives for workers have new ideas Can someone please help me!!!
Friday, April 6, 2012 at 10:49pm

economics
In what kind of an economy does the government make all the decisions? A. mixed B. laissez-faire C. centrally planned D. free enterprise I say D am I right?
Friday, April 6, 2012 at 10:47pm

economics
I am completely stuck on these two questions. I have read my chapter, but I am still doubting that I got the answers correct. 1.A decrease in aggregate demand causes a decrease in ______ only in the short run, but causes a decrease in ______ in both the short run and the long ...
Friday, April 6, 2012 at 7:14pm

economics
I am completely stuck on these two questions. I have read my chapter, but I am still doubting that I got the answers correct. 1.A decrease in aggregate demand causes a decrease in ______ only in the short run, but causes a decrease in ______ in both the short run and the long ...
Thursday, April 5, 2012 at 8:49pm

micro economics
Frank owns a soda fountain and sells milkshakes. he sells 50 milkshakes per day for $5 each. his daily cost is $290, of which $30 is fixed cost. what can you say about Franks short run decision regarding shut down and his long run decision regarding exit? please help me out !
Thursday, April 5, 2012 at 2:17am

micro economics
1) Assume that the gold-mining industry is competitive. a) Illustrate a long-run equilibrium using diagrams for the gold market and for the a representative gold mine. b) Suppose that an increase in jewellery demand induces a a surge for in the demand for gold. Using your ...
Thursday, April 5, 2012 at 2:14am

Economics
How might expectations of a fiscal policy being temporary weaken the effects of the policy?
Wednesday, April 4, 2012 at 10:04pm

Economics
How could “politics” complicate fiscal policy?
Wednesday, April 4, 2012 at 10:03pm

Economics
Can you please explain the problem of time lags in enacting and applying fiscal policy?
Wednesday, April 4, 2012 at 10:03pm

Economics
Jean-Baptiste Say argued that entrepreneurs should be called the fourth factor of production because they A. organize the other factors and make things happen. B. have historically been successful. C. are motivated by the desire to make a profit. D. can overcome scarcity by ...
Wednesday, April 4, 2012 at 7:52pm

Economics
Which of the following is a summary of the three key economic questions? A. Who will buy which goods and services,and how much will they pay? B. How, when, and from whom should consumers get what they want? C. When, where, and by whom should goods and services be produced? D. ...
Wednesday, April 4, 2012 at 7:49pm

Finance (Engineering Economics)
You wish to retire at 60 and, at the end of each month thereafter for 25 years, to receive $6,000. Assume that you begin making monthly payments into an account at age 23 and continue these payments until age 60. If the annual interest rate is constant at 12 percent, how much ...
Wednesday, April 4, 2012 at 11:06am

Economics
Does this thesis on a solution for welfare sound good?: "For the betterment of Canada, the welfare system needs to undergo a serious change in the rules for applying to welfare." I plan on listing each problem (one subtopic each) of welfare and than the solution and ...
Tuesday, April 3, 2012 at 5:58pm

Economics/English
How do you structure a policy essay? Like I have an economic problem (welfare) and my thesis is a solution to is. I have to write a policy/essay on my solution/problem.
Tuesday, April 3, 2012 at 4:48pm

economics
suppose the demand curve for a product is given by Q=10-2P+Ps1,where P is the price of the product and Ps is the price of a substitute good. the price of the substitute good is $2.00. a)suppose P=$1.00, what is the price elasticity of demand?what is the cross- price elasticity...
Monday, April 2, 2012 at 2:59pm

economics
suppose15 percent increase in the price of airlines causes a 10 percent decline in the quantity demanded, what is the elasticity of demand for airlines?
Monday, April 2, 2012 at 2:49pm

economics
a firm with a kinked demand curve experiences an increased fixed cost explain how the firm's price, output and profit change
Monday, April 2, 2012 at 10:42am

general
What are the various long-term and short-term impacts of food wastage? Please give answers from multiple area eg. cultural,social,economics etc. Global warming I have found out about it so please give a more insightful answe
Monday, April 2, 2012 at 10:14am

Economics(Please help)
Given the wage in dollar per day and the CPI for years 1 and 2 how do you calculate the nominal % increase in wage and the real % increase in wage? I am not sure what to do for this or what the formula is if any. Thank you for your help.
Sunday, April 1, 2012 at 12:26pm

Economics
I've been doing research all day but I can't find out anything about this: Why is the number of people on welfare in Canada higher than the number of people on welfare in the US?
Saturday, March 31, 2012 at 6:37pm

Economics(Please help)
Given the wage in dollar per day and the CPI for years 1 and 2 how do you calculate the nominal % increase in wage and the real % increase in wage? I am not sure what to do for this or what the formula is if any. Thank you for your help.
Saturday, March 31, 2012 at 12:17am

Economics(Please respond, thank you)
Given the wage in dollar per day and the CPI for years 1 and 2 how do you calculate the nominal % increase in wage and the real % increase in wage? I am not sure what to do for this or what the formula is if any. Thank you for your help.
Friday, March 30, 2012 at 10:00pm

Economics
what are some advantages and disadvantages of welfare?
Thursday, March 29, 2012 at 1:41pm

Economics
Why has welfare been decreasing in Canada over the years?
Thursday, March 29, 2012 at 10:31am

Economics
How does government intervene to move an economy out of a recession?
Wednesday, March 28, 2012 at 11:57pm

Economics
What does the term “recession” mean and how do we know when one occurs?
Wednesday, March 28, 2012 at 11:56pm

Economics
What is “Gross Domestic Product” (G.D.P.)
Wednesday, March 28, 2012 at 11:55pm

Economics
How might earning a college degree increase lifetime earnings and employability?
Wednesday, March 28, 2012 at 10:36pm

Economics
Why might an increase of the minimum wage in the United States impact unemployment rates?
Wednesday, March 28, 2012 at 10:32pm

Economics
Aside from humanitarian concerns, which of the following is one reason on nation is motivated to provivde foreign aid to a less developed country? A. Foreign aid is tax deductible B. The nation providing foreign aid decreases its unemployment. C. The nation providing foreign ...
Wednesday, March 28, 2012 at 2:12pm

Economics
In 1973, Members of the Oraganization of Oil-Exporting Countries (OPEC) reduced oild exports, which more than quadrupled oil prices. what effect did that have on less developed nations? a. Their development increase rapidly because if the profits they made form oil, and some ...
Wednesday, March 28, 2012 at 1:50pm

Economics
what two methods can a less developed country use to finance its economic development? A.internal financing & debt rescheduling B.Interal financing & foreign investment C.Foreign investment & debt rescheduling D.Infrastructure & foreign banks
Wednesday, March 28, 2012 at 1:40pm

Economics
What is Foreign investment?
Wednesday, March 28, 2012 at 11:24am

Economics
Foreign aid from developed countries to underdeveloped countries is typically used for what?
Wednesday, March 28, 2012 at 11:16am

Economics
What does this sentence mean? "Economies of scale are experienced when average costs per unit of production fall as the size of output grows"
Monday, March 26, 2012 at 7:36am

economics
Young Saul, a budding mctaemhtiaian and printer, is making himself a fake ID. He needs it to say he’s 21. The problem is he’s not using a computer, but rather he has some symbols he’s bought from the store, and thatâ...
Friday, March 23, 2012 at 10:43pm

Economics
I've been picked to ask a presenter in our class about his presentation on Kyoto Protocol. What are some good questions I can ask? One question I think I'll be asking is "Do you think the Protocol is a success? (is it effective)
Thursday, March 22, 2012 at 7:21pm

economics
A monopoly firm is different from a competitive firm in that A. there are many substitutes for a monopolist's product while there are no substitutes for a competitive firm's product B. a monopolist's demand curve is perfectly inelastic while a competitive firm'...
Wednesday, March 21, 2012 at 2:02pm

Economics
The market demand in a Bertrand duopoly is P = 15 - 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true? a.P = $3. b.P = $10. c. P = $15. d. None of the statements associated with this question are correct. I...
Wednesday, March 21, 2012 at 1:53pm

Economics
The spirit of equating marginal cost with marginal revenue is not held by a.perfectly competitive firms. b.oligopolistic firms. c.perfectly competitive firms and oligopolistic firms. d.none of the statements associated with this question are correct.
Tuesday, March 20, 2012 at 11:11pm

Economics
Two identical firms compete as a Cournot duopoly. The demand they face is P = 100 - 2Q. The cost function for each firm is C(Q) = 4Q. The equilibrium output of each firm is: A. 8 B. 16 C. 32 D. 36
Tuesday, March 20, 2012 at 11:10pm

Mangerial Economics
Consider a Cournot duopoly with the following inverse demand function: P = 50 - 0.2Q1 - 0.2Q2. The firms' marginal cost are identical and given by MCi(Qi) = 2. Based on this information firm 1 and 2's reaction functions are A) r1(Q2) = 4.8 - 0.5Q1 and r2(Q1) = 4.8 - 0....
Tuesday, March 20, 2012 at 11:09pm

Economics
The market demand in a Bertrand duopoly is P = 15 - 4Q, and the marginal costs are $3. Fixed costs are zero for both firms. Which of the following statement(s) is/are true? a.P = $3. b.P = $10. c.P = $15. d.None of the statements associated with this question are correct.
Tuesday, March 20, 2012 at 11:07pm

Economics
Two firms compete as a Stackelberg duopoly. The inverse market demand they face is P = 62 - 4.5Q. The cost function for each firm is C(Q) = 8Q. The outputs of the two firms are: A. QL = 48; QF = 24. B. QL = 35; QF = 6. C. QL = 6; QF = 3. D. None of the statements associated ...
Tuesday, March 20, 2012 at 11:07pm

Managerial Economics
The demand for health club services is Q = 350 − 2P and the marginal cost of providing these services is MC = 110 + 2Q. If a two-part tariff pricing system is used, what is the optimal price and quantity combination? a.P = 52 and Q = 240 b.P = 199 and Q = 52 c.P = 26 ...
Tuesday, March 20, 2012 at 10:59pm

Economics
A local video store estimates their average customer's demand per year is Q = 7 - 2P, and knows the marginal cost of each rental is $0.5. How much should the store charge for each rental if it engages in optimal two-part pricing? Answer A. $0.35 B. $0.5. C. $0.7. D. $1.00.
Tuesday, March 20, 2012 at 10:57pm

Economics
Suppose a manager is interested in implementing third-degree price discrimination. The manager knows that the price elasticity of demand for Group 1 is -2 and the price elasticity of demand for Group 2 is -1.2. Based on this information alone we can conclude that the price ...
Tuesday, March 20, 2012 at 10:53pm

Economics
If a firm supplies separable markets with price elasticities h1 = -3 and h2 = -2, it should set prices P1 and P2 so that: a.2/3P1 = 1/2P2 b.3P1 = 2P2 c.2P1 = 3P2 d.P1 = P2 e.2P1 = 2/3P2
Tuesday, March 20, 2012 at 10:52pm

Economics
The price elasticity of demand for senior citizens purchasing coffee from McDonald's is -5 while non senior citizens have a price elasticity of demand equal to -1.25. If is cost McDonald's $0.02 to produce a coffee, the optimal price for a cup of coffee for non senior...
Tuesday, March 20, 2012 at 10:50pm

Economics
Suppose you are the marketing manager for the Fruit of the Loom. An individuals' inverse demand for Fruit of the Loom women's underwear is estimated to be P = 25 - 3Q (in cents). If cost to Fruit of the Loom to producing women's underwear is C(Q) = 1 + 4Q (in ...
Tuesday, March 20, 2012 at 10:49pm

Economics
A monopoly produces widgets at a marginal cost of $8 per unit and zero fixed costs. It faces an inverse demand function given by P = 38 - Q. Suppose fixed costs rise to $200. What will happen in the market? A.The firm will decrease its output and lower its price. B. The firm ...
Tuesday, March 20, 2012 at 10:47pm

Economics
If a firm supplies separable markets with price elasticities h1 and h2, it should set prices P1 and P2 so that: a.P1 /h1 = P2 /h2 b.P1/(1 - 1 /h1) = P2 / (1 - 1/h2) c.P1(1 + 1/h1) = P2 (1 + 1/h2) d.P1 = 1 - 1/h1 and P2 = 1 - 1/h2 e.P1h1 = P2h2
Tuesday, March 20, 2012 at 10:45pm

Math/Economics
If one kilogram of flour costs $2 in Canada, and 100 shillings in Kenya, what would Purchasing Power Parity predict the Kenyan shilling to be worth in Canadian dollars?
Monday, March 19, 2012 at 4:41pm

Economics
Consider an economy with a constant nominal money supply, a constant level of real output Y = 100, and a constant real interest rate, r = 0.10. Suppose that the income elasticity of demand is 0.5 and the interest elasticity of money demand is –0.1. By what percentage ...
Monday, March 19, 2012 at 11:26am

Economics
what is the kyoto protocol?
Sunday, March 18, 2012 at 7:45pm

Economics
If one kilogram of flour costs $2 in Canada, and 100 shillings in Kenya, what would Purchasing Power Parity predict the Kenyan shilling to be worth in Canadian dollars
Sunday, March 18, 2012 at 4:42pm

Economics(Please respond, thank you)
The table below shows the market basket quantities and prices for the base year (year 1) Base year 1 Price in price Quantity base year yr 2 Product Pizza 15 $3 $3.75 t-shirts 4 $10 $9 rent 1 $500 $550 In year 1 the CPI was? In year 2 the CPI was? I know that cpi= (expenditures...
Sunday, March 18, 2012 at 12:59pm

Economics
How does a laissez faire economy make the decision about what goods and services will be produced? a.) Lawmakers in government vote on what will be produced b.) Producing firms decide what they choose to produce, cusumers will follow c.) What will be produced is determined by ...
Thursday, March 15, 2012 at 2:22am

Economics
I have a few questions, for my test coming up. Which of the following is most necessary for specialization among producers to take place? Free trade Monetary policy Competition Scarcity Which of the following best states the purpose of an import quota? To reduce competition ...
Tuesday, March 13, 2012 at 9:00pm

microeconomic
Suppose you consume three pounds of beef and five pounds of pork per month. The price of beef is $ 1.50 per pound, and pork is $ 2.00 per pound. Assuming you have studied economics and achieved consumer equilibrium, what is the ratio of the marginal utility of beef to the ...
Sunday, March 11, 2012 at 11:18am

managerial economics
4. The equation for a demand curve has been estimated to be Q = 100 – 10P + 0.5Y where Q is quantity, P is price, and Y is income. Assume that P = 7 and Y = 50. a. Interpret the equation. b. What is price elasticity at P = 7 and arc elasticity at the interval between P = ...
Sunday, March 11, 2012 at 10:28am

Catering(Gourmet Essentials)
THURSDAY March 8, 2012 SCHOOL SUBJECTS - Art - Business - Computers - English - Foreign Languages - Health - Home Economics - Math - Music - Physical Education - Science - Social Studies GRADE LEVELS - Preschool - Kindergarten - Elementary School - 1st Grade - 2nd Grade - 3rd...
Thursday, March 8, 2012 at 6:03am

Economics
Why is there such a wide variety of desired goods and services in a market?
Thursday, March 8, 2012 at 4:29am

Economics
Help Please! How does self-interest help achieve society’s economic goals?
Thursday, March 8, 2012 at 4:28am

managerial economics
Explain why the cost structure associated with many kinds of information goods and services might imply a market supplied by a small number of large firms. (At the same time, some internet businesses such as grocery home deliveries have continually suffered steep losses ...
Wednesday, March 7, 2012 at 6:45am

bus 599
A group of economics students gathered to study for a test on the money and banking system in the U.S. During a fast and furious brainstorm session, Jill scribbled down several key phrases she will use to study tomorrow. Unfortunately, in her haste, all the statements in her ...
Monday, March 5, 2012 at 7:52pm

economics
The MidNight Hour, a local nightclub, earned $100,000 in accounting profit last year. This year the owner, who had invested $1 million in the club, decided to close the club. What can you say about economic profit (and the rate of return)in the nightclub business?
Saturday, March 3, 2012 at 4:55pm

Economics
how to calculate Qd=15.0-0.2P
Saturday, March 3, 2012 at 2:50am

Mangerial Economics
Where Q is the number of cans of tennis balls sold quarterly, P is the wholesale price Wilpen charges for a can of tennis balls, M is the consumers average household income, and Pr is the average price of tennis rackets. The regression results are as follows Dependant Variable...
Friday, March 2, 2012 at 7:01pm

home economics
uses of a sleeve
Thursday, March 1, 2012 at 5:09pm

managerial economics
Qd=15.0-0.2P where Qd is annual quantity demanded in millions of units and P is the wholesale price. Incurred cost of $60 million. Production cost is $5/unit. (1) what is wholesale price, (2) production annually, (3) annual profit? Given this is a monopoly with an expiring ...
Wednesday, February 29, 2012 at 11:08pm

business economics
what does fiscal and monetary policies mean
Wednesday, February 29, 2012 at 6:15am

Economics
Hi, I was wondering if you know any good websites were I can review for a grade 12 economics exam?
Monday, February 27, 2012 at 10:11pm

economics
Suppose Caroline is a cinephile and buys only movie tickets. Caroline deposits $3000 in a bank acct that pays an annual interest rate of 20%. You can assume that this interest rate is fixed-that is, it won’t change over time. At the time of her deposit, a movie ticket is ...
Sunday, February 26, 2012 at 2:02pm

economics
If a farmer purchases a new tractor,is it included in the calculating of the GDP?
Sunday, February 26, 2012 at 10:06am

English
Does geography/history/economics/politics play a role in your understanding of the theme of the book "The namesake"? If so, how?
Saturday, February 25, 2012 at 9:48pm

Economics
Can you tell me please if my answer is right to the following question? The question: present Adam Smith's theory of value and limitations. 1. Labor cost: he supported that everyone must produce his own goods using own labor and exchange the surplus with other goods. In ...
Saturday, February 25, 2012 at 3:12pm

Economics
adam smith supported three different views of theory of value (are the followings correct, i will add them to my essay) 1. Labor cost: he supported that everyone must produce his own goods using own labor and exchange the surplus with other goods. In this model of society no ...
Saturday, February 25, 2012 at 2:11pm

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