# Homework Help: Social Studies: Economics

## Recent Homework Questions About Economics

Economics
In 1000 BC, the Chinese people used Cowry shells as a method of currency. Why is this significant?

Economics
How is the Barter system of exchange some what arbitrary?

economics
could you calulate the total, average variable, and average cost, when a company marginal cost of production is \$5.00 per unit and fixed costs are \$20.00

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue

economics
find the uniform price if there is two customers: Type A who will only pay 10.00 dollars for a single unit of the good, and Type B who will only pay 8.00 dollars for a single unit of goods. There is 100 customers of Type A and 50 of the customers of Type B.

economics
Give a numerical example to show that a monopolist's marginal revenue can be upward-sloping over part of its range. Hint: The price on the demand curve is the producer's average revenue

economics
could you calulate the total, average variable, and average cost, when a company marginal cost of production is \$5.00 per unit and fixed costs are \$20.00

economics
The differing goals of the Fed and Congress represent which type of problem?

ECONOMICS
How is the equilibrium price determined? My Answer: Equilibrium price is determined by demand and supply. How do shifts in equilibrium price occur? MY ANSWER: ???????

Economics
Provide an alternative explanation to the one given in the text for why isoquants cannot cross.

Economics
2. Advertising can inform buyers, but sellers must incur costs to advertise. If so, advertising can result in higher prices to consumers. Does this mean advertising is economically inefficient? If not, explain how it can simultaneously create value and increase market prices.

economics
Tourism as a factor facing obstacles to contribute towards economic development in South Africa

Given the increase in government expenditures and the marginal propensity to consume, how would you find the change in equilibrium GDP? I did the expenditures X the marginal propensity but this is wrong.

Economics/Money
Suppose that banks today were required to keep 100 per cent reserves against their deposits. What would be the result?

economics
Over the last 30 years in the United States, the realprice of a college education (i.e., after adjusting for inflation) has increased by almost 70 percent. Over the same period, an increasing number of high school grad- uates have sought a college education. (Nationwide ...

economics
In 1989, the Detroit Free Press and Detroit Daily News (the only daily newspapers in the city) obtained permission to merge under a special exemption from the antitrust laws. The merged firm continued to publish the two newspapers but was operated as a single entity. a. Before...

Economics
In a market supply, what factor would cause a decrease in meals served? A. lifting of excise taxes B. government farm subsidies C. high global demand for fuel My grandmother says A. but i say B. whos right me or her? Someone help please!!

Economics
How does a persons perception of a good as a neccessity or a luxury effect his or her purchase of it? A. people who have alot of money will buy goods even if they think they are a luxury. B. a good that is perceived as expencive will no longer be considered a neccessity. C. a ...

Economics
A large increase in gas prices creates a demand for cars with good gas mileage. It takes months for car companys to make these cars. How do you describe this market for cars? A. Inelastic B. Static I said A.Inelastic because, its a short run and the firm cannot easily change ...

Economics
Which of these products or services is likley to have an inelastic supply on a short run? A. Cargo Ships B. Haircuts C. Staples I said D am I rights?

Economics
"The government decides to increase tax- (ceteris parabis)". -> what is the effect of this in an economy?

economics
Companies are usually taken private by who?

economics
What do brokerage firms charge fees on

Economics
If the government gave each recicient family a \$7,000 check instead of enrolling them in the Medicaid program, do you think that most of the families would spend that money to purchase health insurance?

economics
Mexico produce only two goods, fish and coconuts. They only consume goods produced within their own country and do not trade with anyone. However Mexico needs more fish now.if they produce more fish they have to give up more coconuts. In the neighbor country, Canada has lower ...

microeconomic
Mexico produce only two goods, fish and coconuts. They only consume goods produced within their own country and do not trade with anyone. However Mexico needs more fish now.if they produce more fish they have to give up more coconuts. In the neighbor country, Canada has lower ...

economics
Explain why the productivity standard for the distribution of income entails rewarding people based on their contribution to society s total output. Why does the productivity standard typically fail to yield an equal distribution of income?

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? ...

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 to ...

economics
one of the things that works to make sure consumers keep getting better products at better prices is

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 the ...

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 the ...

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?

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?

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 ...

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. ...

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

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.

Economics
Which is a fixed cost? A. rent B. labor C. raw materials D. heating fuel

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

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.

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...

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 sells...

Economics
Introduction to Economics: Explain why scarcity and choice are basic problems of economics?

Economics
Introduction to Economics: Explain why scarcity and choice are basic problems of economics?

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...

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 ...

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...

economics
1) What is the key theory for understanding the politics of information?

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!!!

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?

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 ...

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 ...

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 !

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 ...

Economics
How might expectations of a fiscal policy being temporary weaken the effects of the policy?

Economics
How could “politics” complicate fiscal policy?

Economics
Can you please explain the problem of time lags in enacting and applying fiscal policy?

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 ...

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. ...

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 ...

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 how it can...

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.

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...

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?

economics
a firm with a kinked demand curve experiences an increased fixed cost explain how the firm's price, output and profit change

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

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.

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?

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.

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.

Economics

Economics
Why has welfare been decreasing in Canada over the years?

Economics
How does government intervene to move an economy out of a recession?

Economics
What does the term “recession” mean and how do we know when one occurs?

Economics
What is “Gross Domestic Product” (G.D.P.)

Economics
How might earning a college degree increase lifetime earnings and employability?

Economics
Why might an increase of the minimum wage in the United States impact unemployment rates?

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 ...

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 ...

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

Economics
What is Foreign investment?

Economics
Foreign aid from developed countries to underdeveloped countries is typically used for what?

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"

economics
Young Saul, a budding mctaemhtiaian and printer, is making himself a fake ID. He needs it to say heâ€™s 21. The problem is heâ€™s not using a computer, but rather he has some symbols heâ€™s bought from the store, and thatâ€™s it. He has one 1, one 5, one 6...

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)

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's demand curve ...

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...

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.

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

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 - 0.5Q2. B) ...

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.

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 ...

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 ...

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.

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 ...

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

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 ...

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 cents), compute ...

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 ...

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