Recent Homework Questions About Economics
Economics/ Free Enterprise
What is "Guns or Butter"? Also what is a Production Possibilities curve? I'm a bit confused. Thank you so much whoever is answering this question (:
Wednesday, August 17, 2011 at 7:08pm
Suppose two competitors, Coa, Inc., and Han, Inc., are locked in a bitter pricing struggle in the aluminum industry. In the limit pricing payoff matrix, Coa can choose a given row of outcomes by offering a limit price ("up") or monopoly price ("down"). Han ...
Monday, August 15, 2011 at 11:51pm
Explain why the cost structure associated with many kinds of information good 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 ...
Saturday, August 13, 2011 at 2:13pm
Samantha Jones has a job as a pharmacist earning $30,000 per year, and she is deciding whether to take another job as the manager of another pharmacy for $40,000 per year or to purchase a pharmacy that generates revenue of $200,000 per year. To purchase the pharmacy, Samantha ...
Monday, August 8, 2011 at 5:49am
I need help with my economics with calculating the NPV of the cash flows expected in 2006-2010 using only the 2005 Cost of Capital (dont worry about increasing costs of capital). Calculate the NPV of the cash flows using the CASH FLOW figures at the bottom of the ...
Monday, August 1, 2011 at 8:18pm
Finance and Economics
Calculate the NPV of the cash flows expected in 2006-2010 using only the 2005 Cost of Capital (dont worry about increasing costs of capital). Calculate the NPV of the cash flows using the CASH FLOW figures at the bottom of the spreadsheet, these are the future values ...
Sunday, July 31, 2011 at 7:27pm
1. When McDonalds Corp. reduced the price of its Big Mac by 75 percent if customers also purchased french fries and a soft drink, The Wall Street Journal reported that the company was hoping the novel promotion would revive its U.S. sales growth. It didnt. Within ...
Sunday, July 31, 2011 at 6:20pm
If all the assumptions of perfect competition hold, why would firms in such an industry have little incentive to carry out technological change or much research and development? What condition would encourage research and development in competitive industries?
Friday, July 29, 2011 at 12:27am
For each event, illustrate the impact on the relevant market and determine what will happen to the equilibrium price and quantity in that market. (40 points 10 points per line item) Event Market for: Show which curve shifts Equilibrium price rise or fall? Equilibrium ...
Thursday, July 28, 2011 at 9:52pm
Assuming the inverse demand function for good Z can be written as P = 90 - 3Q, when Q is equal to 5, average revenue and marginal revenue are equal to ________ and ________. Choose one answer. a. $75; $75. b. $75; $60. c. $60; $60. d. $85; $85.
Thursday, July 28, 2011 at 6:25pm
Unable to find any info to answer my question I recently posted about.. role of economic theory in the way economics are run today & no clue found as to concrete examples of same...went thru all your sites you suggested and looked many, many sites involving economic theory......
Wednesday, July 27, 2011 at 11:47pm
A village has n fishermen who exploit the sea nearby and sell their catch at market price (assumed constant). The extraction technology displays decreasing returns to scale and is a=e^-1/2 where e is the total effort. 1) What is the optimal behavior for the village? 2) What is...
Wednesday, July 27, 2011 at 9:24pm
What are the main questions that the Commanding Heights series is posing about globalization and economics and how does it fit into the concept of development?
Wednesday, July 27, 2011 at 2:50pm
Annual demand and supply for the Entronics company is given by: QD = 5,000 + 0.5 I + 0.2 A - 100P, and QS = -5000 + 100P where Q is the quantity per year, P is price, I is income per household, and A is advertising expenditure. a. If A = $10,000 and I = $25,000, what is the ...
Wednesday, July 27, 2011 at 11:22am
1. Pick a business that you are familiar with and list three (3) fixed and (3) variable inputs associated with that business. 2. What are some things that you think that business could do to reduce their costs? Why?
Monday, July 25, 2011 at 10:47am
At a management luncheon, two managers were overheard arguing about the follow- ing statement: A manager should never hire another worker if the new person causes diminishing returns. Is this statement correct? If so, why? If not, explain why not.
Sunday, July 24, 2011 at 3:54pm
The Money Multiplier (MM) is exemplified. Why do you think the FED evaluates the money multiplier when making decisions with regard to the money supply? What function does the money supply serve in our economy to influence certain economic variables? Why does the FED like to ...
Friday, July 22, 2011 at 2:21pm
What is the effect on the price of hotdogs and the quantity of hotdogs sold if: a.) The price of a hamburger rises? b.) The price of a hotdog bun rises? c.) The supply of hotdog sausages increases? d.) Consumers' incomes increase if hotdogs are a normal good? e.) The wage ...
Sunday, July 17, 2011 at 11:47pm
Discuss the statistical significance of the parameter estimates a, b, c, and d using the p-values. Are the signs of b, c and d consistent with the theory of demand?
Sunday, July 17, 2011 at 10:44pm
I just want to have a further or simple explanation on supply and demand curve, when do we say that the supply curve or the demand curve is ambiguous? It is when you have determined if it is an increase or decrease. Can you cite some examples of graphs. Thanks
Saturday, July 16, 2011 at 5:49am
Twenty first century electronics has discovered a theft problem at its warehouse and decided to hire security guards. The firm wants to hire the optimal number of security guards. The following table shows how the number of security guards affects the number of radios stolen ...
Monday, July 11, 2011 at 7:01pm
Appalachian Coal Mining believes that it can increase labor productivity and, therefore, net revenue by reducing air pollution in its mines. It estimates that the marginal cost function for reducing pollution by installing additional capital equipment is MC = 40P where P ...
Monday, July 11, 2011 at 6:00pm
2. Lucy quits a $50,000 job to open her waffle business. She makes $225,000 in revenue from her first year of waffle sales. She pulls $50,000 out of an account that returns 3% interest per year and invests the entire amount in her business. She also borrows $50,000 at 10% ...
Saturday, July 9, 2011 at 11:15pm
At an initial point on the aggregate demand curve, the price level is 100, and real to GDP is $15trillion. After the price level rises to 110, however, there is an upward movement along the aggregate demand curve, and real GDP declines to $14 trillion. If total autonomous ...
Saturday, July 9, 2011 at 11:21am
Suppose that Congress enacts a lump-sum tax cut of $750 billion. The marginal propensity to consume is equal to .075. Assuming that Ricardian equivalence holds true, what is the effect on equilibrium real GDP? On saving?
Saturday, July 9, 2011 at 11:19am
Engineering Economics Essay 1: You wish to purchase a home for $150,000 and you can put down 10% of this price as down payment. You can get a 20 year fixed rate mortgage loan for 6.0% with no points. You can optionally decide to pay 2 points to bring the mortgage rate down to ...
Saturday, July 9, 2011 at 8:11am
Engineering Economics Essay Question: You wish to purchase a home for $150,000 and you can put down 10% of this price as down payment. You can get a 20 year fixed rate mortgage loan for 6.0% with no points. You can optionally decide to pay 2 points to bring the mortgage rate ...
Saturday, July 9, 2011 at 8:09am
company A plans to purchase a packaging machine worth 5 million to further fast and up the packaging of their product brand X. the purchase is intended to boost up the loosing sale of the said product which makes 10000 per year. the target of the company is to increase the ...
Friday, July 8, 2011 at 10:02pm
Equilibrium is defined as the price at which the quantity demanded and the quantity supplied are equal. In the short run, equilibrium does not always occur. What terms describe disequilibrium? How is subsequent equilibrium re-established
Friday, July 8, 2011 at 8:00pm
1. why is the subject of managerial economics relevant to problem of global warming? 2.explain with examples why it is important for managers to have good theories
Tuesday, June 28, 2011 at 3:54pm
. Describe the conditions that constitute a famine. Why does Amarty Sen say that famines are caused more by politics and economics than by natural disasters?
Monday, June 27, 2011 at 4:09pm
1. Suppose that you were head of a family planning agency in India. How would you design a scientific study to determine the effectiveness of different approaches to population stabilization? How would you account for factors such as culture, religion, education, and economics?
Sunday, June 26, 2011 at 8:23pm
The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firms output is $25. The cost of other variable inputs is $400,000 per day
Saturday, June 25, 2011 at 11:07pm
Assume that there is a perfect competition market for a good X. If one supplier all of a sudden wins the lottery and buys all the other firms that make good X and turns this market into a monopoly. Describe to me the difference in price and total output for good X between the ...
Saturday, June 25, 2011 at 10:50am
Economics - Short run profit maximization
Given the following for perfectly competitive firm that has short-run cost structure Output Marginal Cost 1 $10 2 $5 3 $12 4 $23 5 $40 Total fixed costs are $20 and the market price of the product is $25 per unit. How much output should the profit-maximizing firm produce (if ...
Saturday, June 25, 2011 at 9:05am
Assume a monopolist with the following demand and cost relationships. Q = 400 - 20p TC = 10 + 5q + q2 Calculate the following: Profit max price Profit max quantity TR, TC, Profit, and the elasticity at profit max q and p.
Thursday, June 23, 2011 at 3:41pm
You are a painter, and the price of a gallon of paint increases from $3.00 a gallon from 3.50 a gallon. your usage of paint drops from 35 gallons a month to 20 gallons a month. perform the following: 1. compute the price elasticity of demand for paint and show your ...
Sunday, June 19, 2011 at 7:18pm
A large firm has two divisions: an upstream division that is a monopoly supplier of an input whose only market is the downstream division that produces the final output. To produce one unit the final output, the downstream division requires one unit of the input. If the ...
Wednesday, June 15, 2011 at 6:58pm
Assume that it takes four hours of labor time to paint a room and three hours to sand a floor. If all 24 hours were spent painting, how many rooms could be painted by one person? If a decision were made to sand two floors, how many painted rooms would have to be given up? ...
Wednesday, June 15, 2011 at 3:02pm
If the labour supply curve is nearly vertical, a tax on labour 1. has a large deadweight loss. 2. will raise small amounts of tax revenue. 3. has little impact on the amount of work workers are willing to do. 4. will raise small amounts of tax revenue and it has little impact ...
Monday, June 6, 2011 at 10:08pm
am i right? Assume that Carol cleans Dawn's house weekly for $80. Dawn would be willing to pay as much as $100 weekly to have his house cleaned. Carols opportunity cost is $70. If Carol cleans Dawn's house, the producer surplus is 1. $80. 2. $70. 3. $100. 4. $10...
Monday, June 6, 2011 at 10:07pm
12. The main economic variables that affect business cycles include all the following EXCEPT. A. Interest rates B. External Events C. Personal Savings levels D. Business investments levels
Tuesday, May 31, 2011 at 1:30pm
9. During the 1990's the inflation and unemployment trends in the United States changed. What was unusual in the 1990s? A. Unemployment reached very high levels but inflation fell to less than five percent B. although inflation remained at less than three percent, ...
Tuesday, May 31, 2011 at 1:26pm
21. How do fears of future economic problems affect GDP? A. Businesses will invest more money in the short term to ensure higher profits in the future; GDP will be pushed up. B. Consumers will spend more money in the short term to prevent future economic problems; GDP will be ...
Tuesday, May 31, 2011 at 1:23pm
22. An economy that experiences decreasing real GDP and increasing prices is said to suffer from? A. recession B. depression C. a business cycle D. stagflation
Tuesday, May 31, 2011 at 1:21pm
Concern about international crisis has caused consumers to save their money and postpone big purchases. What is the effect on aggregate demand and aggregate supply? A. No change B. Aggregate supply will decrease, raising the price level and lowering real GDP C. Aggregate ...
Tuesday, May 31, 2011 at 1:19pm
4. What source of economic growth is reflected in the economy by an increase in productivity without an increase in land, labor, or capital? A. technological progress B. foreign trade C. population growth D. savings and investments
Monday, May 30, 2011 at 10:37pm
Hi. Okay so a nominal penny is a placeholder that is used to evade giving the real EPS? Another place says the EPS for Virgin Blue is betweeen 18 and 19c. Do you think I should ditch comparing Qantas to VIrgin Blue and instead compare historical? If so how long ago would be ...
Saturday, May 28, 2011 at 11:30pm
Hi My three criterion are now, if the share is blue-chip or not, the companies PE and its comparison to the S&P/ASX200. Regarding the companies I have compared it to a rival companies PE, I said that it is good that its PE is higher than the other company but it is still a bad...
Saturday, May 28, 2011 at 3:24pm
Economics REALLY URGENT!!!!!
Hi my assignment is due like TODAY. I need three simple criterion to evaluate whether it is good to buy shares in a company. So far I have the profability of shares, the potential for a share to be blue-chip but I am lacking a third. I'm stuck because I have already ...
Saturday, May 28, 2011 at 12:29pm
which of the following factors will not lead to a decrease in demand for a good? A) an increase in the price B) a decrease in the price of substitute products C) An unsuccessful advertising campaign for the good C) a decrease in the consumer incomes I think it is B, but the ...
Friday, May 27, 2011 at 12:24pm
(iii) Bright Future, Ltd (BF) is a nonprofit foundation providing medical treatment to emotionally distressed children. BF has hired you as a business consultant to design an employment policy that would be consistent with its goal of providing the maximum possible service ...
Thursday, May 26, 2011 at 7:40am
The accompanying table shows a car manufacturers total cost of producing cars: Qty |TC| Variable Costs| Avg. Var. Costs| Avg. Total Costs| Avg. Fixed Costs 0 |$500,000| ---- | ---- | ---- |---- | 1 |540,000 | 2 |560,000 | 3 |570,000 | 4 |590,000 | 5 |620,000 | 6 |660,000...
Wednesday, May 25, 2011 at 10:12pm
2. (i) The production function for a firm is given by Q = LK where Q denotes output; Land K labor and capital inputs. Wage rate and rental rate are given by w and r respectively. (a) Show whether or not the above production function exhibits diminishing marginal productivity ...
Wednesday, May 25, 2011 at 9:14pm
4 (ii) You manage Dirt Diggers, an excavating firm that excavates roadside ditches for laying drainpipes. Its output follows the production function: Q = 10L -.1L2 where L denotes labor hours and Q the length of the ditch in meters. You can hire labor at the going wage rate of...
Wednesday, May 25, 2011 at 9:13pm
3. (i) Sleak Teak builds yard furniture using hardwoods and (in a smaller shop) handcrafted knick-knacks from the same sort of wood. The hardwood usage in the two lines of product are Yard Furniture: Y = 2 Ty - .001Ty2 Knick-knacks: Z = 20Tz - .01 Tz 2 where Y and Z are units ...
Wednesday, May 25, 2011 at 9:12pm
Assume the only choice variable is total benefit function is B(x) = 170x-x², and cost function is C(x) = 100-10x + 2x². a. What are the marginal benefit and marginal cost functions? b. Set up the net benefit function and then determine the level x that maximises net ...
Wednesday, May 25, 2011 at 1:56pm
Speedy Limousine-the prices of gasoline and wage rates for drivers has increased costs. So what is the initial condition and the direction of the firms's demand curve. and describe the type of demand shift if anyWhat would happen to the equilibrium price. What would happen...
Tuesday, May 24, 2011 at 11:08am
The firm currently uses 50,000 workers to produce 200,000 units of output per day. The daily wage per worker is $80, and the price of the firms output is $25. The cost of other variable inputs is $400,000 per day. Assume that total fixed cost equals $1,000,000. Calculate...
Monday, May 23, 2011 at 7:51pm
(a) Explain what is meant by the term natural monopoly. (b) Construct a diagram showing the average and marginal cost curves, and the demand and marginal revenue curves for a natural monopoly. Use your diagram to explain why profit maximising behaviour by the ...
Saturday, May 21, 2011 at 5:41am
explain the importance of the following terms in the u.s. free enterprise system:a)profit motive, b)voluntary exchange, c)private property rights, and d)competition
Wednesday, May 18, 2011 at 4:52am
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, May 16, 2011 at 11:56pm
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 quarterly...
Monday, May 16, 2011 at 8:31pm