Recent Homework Questions About Economics
A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue so $10, average total cost of $8 and fixed cost of $200. a. what is the profit? b. what is the marginal cost? c. what is its average variable cost? d. is the ...
Tuesday, September 20, 2011 by jenny
Is it possible for companies both to maximize financial value for shareholders and to act responsibly in the communities in which they operate, to treat their employees, customers, and suppliers well, and to engage in activities that are good for the environment? In your ...
Monday, September 19, 2011 by denise
Suppose the supply and demand for milk is described by the following equations: Qd=600-100P, Qs = -150+150P, where P is price in dollars . Qd is quantity demanded in millions of gallons per year. A. Create supply and demand tables corresponding to these equations. B. Graph ...
Monday, September 19, 2011 by ARul
Do you think lotteries have both micro and macro economic effects or only micro? How do lotteries change what and for whom goods and services are produced?
Sunday, September 18, 2011 by Emily
Management & Econ
a) Explain why a short run average cost curve only touches the long run average cost curve at one point on the long run average curve. b) Define clearly the concept of returns to scale c)What are the two causes of the region of economics of scale for a long run average cost ...
Saturday, September 17, 2011 by Lisel
Management & Economics
a producer of light bulbs claims to have the folllowing production function: Q=10L*G. a) what is the marginal product of labor? or glass? b)Draw the relavant isoquant map and isocost line if the cost of labor is $4 per work-hour and the cost of glass is $4 per pound and 90 ...
Saturday, September 17, 2011 by Lisel
Why do long-run elasticities of demand differ from short-run elasticities? Consider two goods: paper towels and televisions. Which is a durable good? Would you expect the price elasticity of demand for paper towels to be larger in the short run or in the long run? Why? What ...
Friday, September 16, 2011 by aaniya gill
suppose that the short run costs for a paintbrush manufacturer are given by the expression: TC= 100+2Q+.01 Q2 A. WAT ARE THE FIXED COSTS OF THIS MANUFACTURE? B. WHAT ARE THE TOTAL COSTS , AVERAGE COST, AVERAGE VARIABLE COST AND MARGINAL COST AT 50 AND 100 UNITS OF OUTPUT? C. ...
Thursday, September 15, 2011 by AMAR JYOTI
You have just started work for a small company, FitCo, that develops private fitness clubs in small towns. FitCo buys or leases a local hotel or motel, then renovates to provide a gym, swimming pool, sauna, Jacuzzi, and a small café where patrons can buy juices, smoothies, ...
Thursday, September 15, 2011 by Darl
The # of kids who were vaccinated against the flu (x) and # of kids who currently suffer from flu.(y) Positive or negative correlation and x causes y or y causes x or both. I know it's negative correlation but not sure of causation? Help
Thursday, September 15, 2011 by Riri
Suppose that there is a common resource of size y in a two period society. Each of two citizens, one and two, can withdraw a nonnegative amount c1 or c2 for consumption in period one, provided that c1+c2 <=y . In the event that they attempt to consume in excess of what is ...
Wednesday, September 14, 2011 by quynh
Consider a change in the table in Problem 2-3. The student’s set of opportunities is now as follows: Economics Biology 100 40 90 60 80 75 70 85 60 93 50 98 40 100 Plot this student’s production possibilities curve. Does the PPC illustrate increasing or decreasing ...
Wednesday, September 14, 2011 by rayne
2-4. Based on the information provided in Problem 2-3, what is the opportunity cost to this student of allocating enough additional study time on economics to move her grade up from a 90 to a 100?
Wednesday, September 14, 2011 by rayne
The following table illustrates the points a student can earn on examinations in economics and biology if the student uses all available hours for study. Economics Biology 100 40 90 50 80 60 70 70 60 80 50 90 40 100 Plot this student’s production possibilities curve. Does ...
Wednesday, September 14, 2011 by RAYNE
Using the Mundell-Fleming model, compare and contrast the impact of monetary expansion with low capital mobility under fixed and flexible exchange rates.
Wednesday, September 14, 2011 by Sim
According to the rule for optimal input usage, a firm should hire a person as long as his or her marginal revenue product is greater than his or her marginal cost to the company. It is well known that many companies have management training programs in which new trainees are ...
Saturday, September 10, 2011 by aaniya gill
Spanish 1-Please check
How do you say the class of economics and the class of anatomy in Spanish. I think it is la clase de economis y la clase anatomis. Accent should be over both (i's)
Monday, September 5, 2011 by Shannon
For example the productive needs of the firm would be to set (Marginal Revenue = Marginal Costs (MR = MC) and create excess profits for the firm. However, as far as what is in the best interests of society it might be Price or (Average Revenue) = MC. Give the answers of both ...
Saturday, September 3, 2011 by DD
My teacher give an investigation. Topic is easay of poverty include characteristics of poverty and the causes of poverty. Please anybody who can help me, i'm ready for a help pleas by the grace of god i nead a help.
Wednesday, August 31, 2011 by Ritshidze
Managerial Economics and Globalization
Describe how two Monopolistically competitive firms respond to the current macroeconomic conditions in terms of: stock performance, current/future revenue, current/future profits, labor costs,and hiring decisions.
Tuesday, August 30, 2011 by Crystal
Increasingly, employees are being allowed to choose benefit packages from a menu of items. For instance, workers may be given a package of benefits that includes basic and optional items. Basics might include modest medical coverage, life insurance equal to a year's salary, ...
Tuesday, August 23, 2011 by Jim
Hi beautiful people! I'd like to know a good website where I can get practise essay topics for economics. I have to write a extended written response to stimulas exam soon and as this is a weakness I'd like to find some practise topics. Its on the aging population but I'd like...
Monday, August 22, 2011 by Em
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 by CP
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 can choose a given ...
Monday, August 15, 2011 by Anonymous
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 by Johnson K
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 by aaniya gill
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 (don’t 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 by Pupitas
Finance and Economics
Calculate the NPV of the cash flows expected in 2006-2010 using only the 2005 Cost of Capital (don’t 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 cash ...
Sunday, July 31, 2011 by Pupitas
1. When McDonald’s 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 didn’t. Within two ...
Sunday, July 31, 2011 by KIM
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 by kim
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 by Destinie
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 by ammu
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 through all your sites you suggested and looked many, many sites involving economic theory...
Wednesday, July 27, 2011 by Joanne
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 by jalal
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 by Brandon
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 by Michelle Lawson
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 by Rachael
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 by KIM
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 by Gbrown
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 rate...
Sunday, July 17, 2011 by London
Discuss the statistical significance of the parameter estimates aˆ, bˆ, cˆ, and dˆ using the p-values. Are the signs of bˆ, cˆ and dˆ consistent with the theory of demand?
Sunday, July 17, 2011 by kim
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 by Maly
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 by kim
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 by kim
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 by Carol
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 by Tina
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 by Tina
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 by Rashed Alhajri
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 by Rashed Alhajri
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 by melissa
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 by alphonso
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 by kevin eli
. 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 by tamika
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 by tamika
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 firm’s output is $25. The cost of other variable inputs is $400,000 per day
Saturday, June 25, 2011 by brynda
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 by Helen
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 by Raj Sree
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 by dave
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 by annie
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 by Kathy
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 by MATTHEW