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July 23, 2014

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Recent Homework Questions About Economics

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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

Economics
If all company in a certain industry are earning economic profits now, in long run what will happen?
Saturday, February 25, 2012 at 2:29am

Economics
B. Suppose there are two goods, Cloth and Food, and two factors of production, labour and capital. Suppose that the production function for each good is "homothetic". Put capital K in the vertical axis and labour L in the horizontal axis. For Cloth production, for ...
Thursday, February 23, 2012 at 4:15pm

economics
Complete the following table for the firm below which is selling its product in a perfectly competitive market and hiring labor in a perfectly competitive labor market. MARGINAL WORKERS TOTAL MARGINAL PRODUCT REVENUE HIRED PRODUCT PRODUCT PRICE PRODUCT 1 12 ______ $10 ______ 2...
Wednesday, February 22, 2012 at 11:22pm

ECONOMICS
Grocery stores and gasoline stations in a large city would appear to be examples of competitive markets: There are numerous relatively small sellers, each seller is a price-taker, and the products are quite similar. a. How could we argue that these markets are not competitive?
Wednesday, February 22, 2012 at 9:45am

Economics
Consider an economy with the following aggregate demand(AD) and aggregate supply(AS) schedules. These schedules reflect the fact that, prior to the period we're examining, decisions makers entered into contracts and made choices anticipating that the price level would be ...
Wednesday, February 22, 2012 at 1:16am

Economics
Consider an economy with the following aggregate demand(AD) and aggregate supply(AS) schedules. These schedules reflect the fact that, prior to the period we're examining, decisions makers entered into contracts and made choices anticipating that the price level would be ...
Wednesday, February 22, 2012 at 1:15am

economics
An article in Business Week warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to “ export its way out of trouble” by oversupplying everything from automobiles to semiconductors. Evidence that ...
Tuesday, February 21, 2012 at 6:05pm

math
Business and Economics: For a business to make a profit it is clear that revenue R must be greater than cost C; in short, a profit will result only if R>C. if a company manufactures records and its cost equation for a week is C = 300 + 1.5x and its revenue equation is R = ...
Tuesday, February 21, 2012 at 1:26pm

Economics
3.The Theory of the Firm document, the Friedman article, and the information in chapter 4 argue that the main goal of a firm in a market economy is to maximize profit (shareholder wealth) over the long term. However, SEC regulations require U.S. corporations to publish ...
Monday, February 20, 2012 at 8:50pm

managerial economics
Exercise 1 The marketing manager has estimated the company’s demand curve with the equation P=3000 – 40Q. To develop a deeper understanding of pricing and quantity to be produced, complete the following analyses: 1. Draw the demand curve (use a range of Q values from...
Monday, February 20, 2012 at 5:49pm

economics
what is the relationship between investment and interest rates
Monday, February 20, 2012 at 4:08am

Economics
Wilpen Company, a price- setting firm, produces nearly 80 percent of all tennis balls purchased in the United States. Wilpen estimates the U. S. demand for its tennis balls by using the following linear specification: where Q is the number of cans of tennis balls sold ...
Sunday, February 19, 2012 at 11:10pm

Economics
Grocery stores and gasoline stations in a large city would appear to be examples of competitive markets: There are numerous relatively small sellers, each seller is a price taker, and the products are quite similar. a. How could we argue that these markets are not competitive...
Sunday, February 19, 2012 at 1:56pm

History
(So, I have to agree or disagree with regards to the statement provided.. please comment on how I can make my answer better) Confirming Max Weber’s thoughts on the dynamics between religion, economics, and culture--Protestantism and urbanization had a mutual reinforcing ...
Sunday, February 19, 2012 at 11:24am

Economics
what are some economic problems with welfare?
Sunday, February 19, 2012 at 11:24am

history
Can anyone explain to me how Max Weber’s thoughts on the dynamics between religion, economics, and culture can be related to Protestantism and urbanization in Western Europe? I know that according to Max Weber--religion, economics, and culture are intertwined with each ...
Sunday, February 19, 2012 at 10:53am

help
Human Race A. Philosophy B. Sociology C. Humanities D. Economics d
Saturday, February 18, 2012 at 9:41pm

Economics
what is a good economic problem with welfare? I searched a lot, but i can't find anything.
Saturday, February 18, 2012 at 8:41pm

Economics
what is an economic problem with welfare in canada and how can it be solved? I basically need a thesis.
Saturday, February 18, 2012 at 8:23pm

Economics
Suppose George is making $18 an hour installing electronic chips in hand held computers. Would you offer to work for $8 an hour to get you the job? Why might a profit-maximizing employer turn down you offer?
Saturday, February 18, 2012 at 6:45pm

economics
Bubba's Burgers sells hamburgers in a perfectly competitive market at a price of $1.50 each. At the profit-maximizing (cost-minimizing) level of output, average total cost is $1.90 per hamburger and average variable cost is $1.75 per hamburger. Should the firm continue to ...
Saturday, February 18, 2012 at 5:32pm

economics
Before the merger, each of the separate newspapers was losing about 10 million per year. What forecast would you make for the merged firms profits? Explain. b. Before the merger, each newspaper cut advertising rates substantially. What explanation might there be for such a ...
Thursday, February 16, 2012 at 4:27pm

home economics
What is disposal of fullness
Wednesday, February 15, 2012 at 7:55am

economics
Suppose that the company Mama's Pies adds another store to sell its pastries. Supposed that it costs $400,000 to build the new store and assume that the new store will generate revenues of $450,000. What is the rate of return on this investment?
Tuesday, February 14, 2012 at 7:07pm

Economics
If the federal government enacts a tax on a monopoly, how would you expect the additional tax to affect the following: 1. Output produced by the monopoly 2. Prices charged by the monopoly 3. Profits of the monopoly
Tuesday, February 14, 2012 at 3:10am

Economics
-The "Baby Boomers" are in their retirement age. What affect might this have on the productive capacity of a country's labor force? -How does consumer demand and the price mechanism influences demand in the factor market?
Monday, February 13, 2012 at 11:56pm

hsitory
Which of the following is the study of governmental institutions and processes? A. geography B. political science C. sociology D. economics
Monday, February 13, 2012 at 10:43pm

economics
For the total variable cost (TVC), draw a positive total fixed cost (TFC) and total cost (TC) curves. Then derive the associated marginal cost (MC), average total cost (ATC), average variable (AVC) and average fixed cost (AFC) curves. Be sure to capture and explain the ...
Sunday, February 12, 2012 at 5:43pm

Economics
Please check my work! Thanks! 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. They decide to pool their resources to purchase the company. This would be called a ...
Sunday, February 12, 2012 at 1:11pm

Economics
The service of mechanic in fixing the radiator of his car.ist excluded or included gross domestic product and how?
Saturday, February 11, 2012 at 9:59am

economics
Suppose that the resident of vegopia spend all of their income on cauliflower,broccoli and carrots.in 2006 they buy 100 heads of cauliflower for $200,50 bunches of broccoli for $75 and 500 carrots for $50.in 2007 they buy 75 heads of cauliflower for $225,80 bunches of broccoli...
Saturday, February 11, 2012 at 12:21am

economics
Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one parcel. Assume that the parcels are essentially identical and that the minimum selling price of each is $600,000. The table below reflects ...
Friday, February 10, 2012 at 3:18pm

economics
Suppose that there are three beachfront parcels of land available for sale in Asilomar and six people who would each like to purchase one parcel. Assume that the parcels are essentially identical and that the minimum selling price of each is $600,000. The table below reflects ...
Thursday, February 9, 2012 at 1:45pm

Economics
-> In some countries, the role of women is not regarded in the same way as a man. How might this effect production in the country and the consequent effect on standard of living? -> The run up to the 2004 election saw the Liberal Coalition stress its economic management...
Thursday, February 9, 2012 at 7:02am

About Economics
-> In some countries, the role of women is not regarded in the same way as a man. How might this effect production in the country and the consequent effect on standard of living? -> The run up to the 2004 election saw the Liberal Coalition stress its economic management...
Thursday, February 9, 2012 at 12:39am

Economics
If someone said "My personal economic theory is live below my means..." what does this mean and what implications does this have for that person's economic future?
Wednesday, February 8, 2012 at 6:29am

History
What caused Republicans to abandon their defense of black rights? Discuss economics as well as political reasoons.
Tuesday, February 7, 2012 at 9:44pm

economics
what is the theory of inflation
Tuesday, February 7, 2012 at 10:28am

economics
A prolonged economic contraction is called ?
Wednesday, February 1, 2012 at 2:52pm

economics
How do economists determine the real GDP per capita?
Wednesday, February 1, 2012 at 2:48pm

economics
Which banking service provides easy access to money, monthly statements, easier bill payment, and more security than carrying cash?
Wednesday, February 1, 2012 at 12:28pm

economics
Which banking service provides easy access to money, monthly statements, easier bill payment, and more security than carrying cash?
Wednesday, February 1, 2012 at 12:25pm

economics
Picabo borrows $1,000. To repay the amount she makes 12 equal monthly payments of $90.30. Determine the following: (a) The effective monthly interest rate (b) The nominal annual interest rate (c) The effective annual interest rate
Wednesday, February 1, 2012 at 12:30am

economics
i need to write an editioral in a newsletter format regarding the rights and responsibilites of us citzens- i don't know how are where to start
Tuesday, January 31, 2012 at 11:15pm

economics
Which of the following is a FALSE statement? A. Changes in the price of inputs can cause a shift in supply. B. If the price of other goods change, it can cause a shift in supply. C. Government involvement in the economy will not cause a shift in supply. D. Certain advancements...
Tuesday, January 31, 2012 at 5:57pm

economics
What is the main difference between macroeconomics and microeconomics?
Tuesday, January 31, 2012 at 5:51pm

home economics
Suppose the City of Klamath is considering plans to build a dam on the Klamath River. There are currently social benefits to the recreational fishermen who use the river to catch salmon. The dam would be source of revenue, as it would create hydroelectric power that the ...
Monday, January 30, 2012 at 8:43pm

business managment
1. In a _______, consumers ultimately decide what should be produced. A. macroeconomic system C. free market system B. socialist economy D. command economy 2. Efficiency can best be defined as A. the amount of output generated in a given amount of time. B. producing items ...
Monday, January 30, 2012 at 4:22pm

Business management class
here is all my questions with answers.. just to double check my work.. Sue can u please check!! thanks u for all the help!! 1. In a _______, consumers ultimately decide what should be produced. A. macroeconomic system C. free market system B. socialist economy D. command ...
Monday, January 30, 2012 at 12:23pm

Economics
One year ago, you bought a bond for $10,000.00. You received interest of $400.00 at the end of the year, as well as your $10,000.00 principal. If the inflation rate over the last year was five percent, calculate the real return. Show your work.
Saturday, January 28, 2012 at 4:55pm

Managerial Economics
The demand function for a cola-type soft drink in general is Q = 20-2P, where Q stands for quantity and P stands for price. At which price would a change in price and quantity result in approximately no change in total revenue? Why?
Saturday, January 28, 2012 at 4:19pm

economics
An economist for a bicycle company predicts that, other things equal, a rise in consumer incomes will increase the demand for bicycles. This prediction is based on the assumption that:
Friday, January 27, 2012 at 11:10am

economics
Suppose that the free market labour supply and labour demand equations are given by Qs = 5W and Qd = 30 - 5W. If the minimum wage were set at $2.50 an hour, how many people would not be able to find work?
Friday, January 27, 2012 at 11:09am

Economics
What is labour?
Wednesday, January 25, 2012 at 10:42am

Economics
2. Explain how an economist could use the slope of the yield curve to analyze the probability that a recession will occur and why the spread may matter
Tuesday, January 24, 2012 at 10:41am

Business
Learning economics is like having you own crystal ball. The more you understand it as a social science, the more you understand how our economy and political system works. I say like a crystal ball, because you will be able to see things that other people without the same ...
Monday, January 23, 2012 at 1:18pm

Economics
21. The EU is an example of a trading bloc, or _______, that has a common external tariff and no internal tariffs, and that coordinates laws to facilitate trade between member countries. A. strategic alliance B. joint venture C. common market D. multinational export assistance...
Monday, January 23, 2012 at 12:50pm

Economics
11. Often, the _______ the risk, the _______ the rewards. A. higher; higher C. higher; lower B. lower; higher D. faster; quicker 12. When the government of Indonesia imposes a tax on imported electronics products to help its young electronics industry compete in the global ...
Monday, January 23, 2012 at 12:47pm

Economics
6. The idea that countries should produce and sell goods that they produce most effectively and efficiently, and buy goods that other countries produce most effectively and efficiently, is known as A. absolute advantage theory. C. efficiency balanced trade. B. free trade. D. ...
Monday, January 23, 2012 at 11:37am

economics
label a point f inside the curve. why is this an inefficient point? label a point g outside the curve. why is this point unattainable? why are pointS A THROUGH E ALL EFFICIENT POINTS?
Sunday, January 22, 2012 at 2:32pm

economics
label a point f inside the curve. why is this an inefficient point? label a point g outside the curve. why is this point unattainable? why are pointS A THROUGH E ALL EDDICIENT POINTS?
Sunday, January 22, 2012 at 2:24pm

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