Economics *Micro

4,944 results, page 45

Economics

Why is the equilibrium wage higher for doctors than for convenience store clerks? ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ A. The demand for convenience store clerks is equal to the demand for doctors. B. Supply of doctors is relatively low, and the demand is relatively high...

CALCULUS ECONOMICS

Consider an oligopolistic market with two firms. Each of them produces using a cost function given by c(q)=q^2. The aggregate demand in the market is given by 1000−p. Suppose that, in order to increase production, the government gives the firms a $100 per-unit produced ...

Economics

One supply-side measure introduced by the Reagan administration was a cut in income tax rates. Use an aggregate demand-supply diagram to show what the effect was intended. What might happen if such a tax cut also generated a change in aggregate demand? Draw your supply and ...

Economics

The marginal tax rate is defined as the extra taxes paid on additional income divided by the increase in income. Calculate the marginal tax rate for the proportional tax system as income rises from $50,000 to $100,000. Calculate the marginal tax rate as income rises from $100,...

Managerial Economics

(Economyst Only Please): A television station is considering the sale of promotional DVDs. It can have the DVDs produced by one of two suppliers. Supplier A will charge the station a set-up fee of $1200 plus $2 for each DVD; supplier B has no set-up fee and will charge $4 per ...

Economics

Entry of new airlines to the CARICOM region is severely restricted and as a consequence regional airlines charges higher airfares than US airfares for routes of comparable distances. An airline expert estimates the annual air travel demand between Trinidad and Antigua to be: Q...

Economics

Please help me on this one! You are planning to estimate a short-run production function for your firm, and you have the following data on labor usage and output: Labor Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 A- Does a cubic equation appear to be a ...

economics

You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor Usage: 3 7 9 11 17 17 20 24 26 28 30 Output: 1 2 3 5 8 10 15 18 22 21 23 1) does a cubic equation appear to be a suitable ...

economics

Suppose that the following equations describe an economy (C, I, G, T, and Y are measured in billions of dollars and r is measured in percent; for example, r = 10 C=170+0.6(Y-T),T=200,I=100-4r,G=350 (M/P)d=L=0.75Y-6r, (M/P)s=735 a. Derive the equation for the IS curve (Hint: It...

economics

please please please please help me this is due tomorrow!!! this is a table with some questions and i don't know how to solve it (1)real domestic output (GDP=DI) in billions $200 $250 $300 $350 $400 $450 $500 $550 (2)aggregate expenditures private closed economy billions $240...

Economics

A business can produce its product in different versions: Version A has a basic design and a lower cost and Version B has an upgraded design and a higher cost of production. The business knows there are different types of customers, “High” demand (H) and “Low” demand (...

Economics

Please Help You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 a.Does a cubic equation appear to be a suitable ...

Trade-Economics

1.United States and Mexico have two industries; call them, L-intensive (LIN) and K-intensive (KIN). They have two factors of production: labor and capital. US is a capital abundant country and Mexico is a labor abundant country. At the initial equilibrium, US exports KIN ...

math

Subjects Art Business Computers English Foreign Languages Health Home Economics Mathematics Music Physical Education Science Social Studies Features Contribute Experts Forum Job Openings Homework Tips Libraries.Jiskha Link to Us Reference Parents & Teachers School Supplies ...

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 ...

History/Economics..PLEASE HELP!!

Plato, a Greek philosopher who lived from 427BC to 347BC, famously wrote that, "Necessity is the mother of inventions." Do you agree with this statement? Why or why not? My response was, " I agree with this statement because most of the inventions from the 1800s and in todays ...

Economics

Use the concepts of marginal cost and marginal revenue to derive an optimal capital budget for Company X, which has identified 7 possible investment projects and determined its cost of capital as shown below. Table A: Alternative Projects, Required Investments, and Expected ...

Economics

Suppose that your state raises its sales tax from 5 percent to 6 percent. The state revenue commissioner forecasts a 20 percent increase in sales tax revenue. Is this plausible? Explain. I would think not, because wouldn't the increase in sales tax shut out some people who do ...

Economics

Suppose that your state raises its sales tax from 5 percent to 6 percent. The state revenue commissioner forecasts a 20 percent increase in sales tax revenue. Is this plausible? Explain. I would think not, because wouldn't the increase in sales tax shut out some people who do ...

Applied statistics for business and economics

Only 0.02% of credit card holders of a company report the loss or theft of their credit cards each month. The company has 15,000 credit cards in the city of Memphis. Use the Poisson probability tables to answer the following questions. What is the probability that during the ...

Economics (PPFs)

Society has 20 units of capital and 20 units of labor. The production function for X can be expressed as X = K1/2L1/2, and the production for Y can be expressed as Y = K + L. Which of the following input allocations is not efficient? Solution: Industry X uses 13.33 units of ...

managerial economics

BigBook is a monopolist book publishing company, which sells books in Australia and New Zealand. Assume there is a 1:1 exchange rate between Australia and New Zealand. The inverse demand equations for Australia and New Zealand are as follows: Australia: PA = 100 - 2.5QA New ...

Economics

1. What effect would a decrease in consumer savings have on the aggregate demand curve? The curve would level off. The curve would shift to the right. The curve would shift to the left. The curve would not change 2. If there is an increase in aggregate supply with no ...

economics vocab.

Key terms: *frictional unemployment *seasonal unemployment *structural unemployment *cyclical unemployment *census *unemployment rate *full employment *underemployed *discouraged worker 1. My cousin Harold is used to ______________, since he works for a landscaping company and...

economics

A monopolist faces an upward-sloping marginal cost curve. Its profit-maximizing quantity will be a. at the minimum point of the marginal cost curve b. less than the (total) revenue-maximizing quantity c. equal to the (total) revenue-maximizing quantity d. in the unit elastic ...

economics

You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor usage Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 Does a cubic equation appear to be suitable ...

economics

You are planning to estimate a short-run production function for your firm, and you have collected the following data on labor usage and output: Labor usage Output 3 1 7 2 9 3 11 5 17 8 17 10 20 15 24 18 26 22 28 21 30 23 Does a cubic equation appear to be suitable ...

Managerial Economics

Mirk Labs is a pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the U.S. on Zatab, an allergy medication. The global demand for Zatab is Qd= 15.0- 0.2 P where Qd is annual quantity demanded (in millions of units) of Zatab, and P is the ...

Managerial Economics

Mirk Labs is a pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the U.S. on Zatab, an allergy medication. The global demand for Zatab is Qd= 15.0- 0.2 P where Qd is annual quantity demanded (in millions of units) of Zatab, and P is the ...

Managerial Economics

Mirk Labs is a pharmaceutical company that currently enjoys a patent monopoly in Europe, Canada, and the U.S. on Zatab, an allergy medication. The global demand for Zatab is Qd= 15.0- 0.2 P where Qd is annual quantity demanded (in millions of units) of Zatab, and P is the ...

Economics

Suppose that the residents 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 ...

Economics

I have two questions now. :) 1: Part one: What are some facts about Plessy v. Ferguson? *I know that Plessy v. Ferguson is an example of judical review where citizens challenged a law through courts.* Part two: What are the case outcomes and significance? *I think its that ...

economics

1)The OECD( organization for economic cooperation and development)data also indicate for example that the stimulative effects of tax reductions are considerably smaller than those triggered by government expenditure increases, a fact of life long recognized by economists. ...

Economics

Suppose Bill is on a low-carbohydrate diet. He can eat only three foods: Rice Krispies, cottage cheese, and popcorn. The marginal utilities for each food are tabulated below. Bill is allowed only 167 grams of carbohydrates daily. Rice Krispies, cottage cheese, and popcorn ...

Economics

6. An article in The Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. Some chains are requiring private owners or ...

ECONOMICS !!!!! Help me ***

An article in The Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. Some chains are requiring private owners or ...

economics

if you could verify/falsify my answers on these multiple choice questions and possible give me insight on possible correct answers, that would be great. thanks! 1. Which is an acceptable market method of regulating negative externalities? A. Legal action against the source ...

Economics

a firm in a purely competitive industry is currently producing a 1000 unir per day at a total cost of $450. if the firm produced 800 units per day, it total cost will be $300, and it it produced 500 units per day, it total cost will be $275. Requirements: (1) what are the firm...

Economics HELP PLEASE!!!!

Can someone please help me with a hint to solve this problem?? I'm struggling really hard with this. "Consider an oligopolistic market with two firms. Each of them produces using a cost function given by c(q)=q^2. The aggregate demand in the market is given by 1000−p. ...

economics

Question.1 Your aunt is thinking about opening a hardware store. She estimates that it would cost $500,000 per year to rent the location and buy the stock. In addition, she would have to quit her $50,000 per year job as an accountant. a. Define opportunity cost. b. What is ...

economics

1. Suppose that the market of laptops is given by following supply and demand curves given below: Qd = 5000 − 3p Qs = 1000 + p. Answer the following questions on excel sheet using the above demand and supply equations. i) Take the range of values for the price from $1 to...

Economics

I really do not know what to do!:((( You are the marketing manager of the Bloomsbury Publishing that distributes the Harry Potter series. A new book is to be issued and you need to decide at which price it should be offered in US and European markets. On the basis of the sales...

managerial economics

An article in The Wall Street Journal reported that large hotel chains, such as Marriott, are tending to reduce the number of hotels that they franchise to outside owners and increase the number the chain owns and manages itself. Some chains are requiring private owners or ...

Economics

1. You read the following information about the economy: Real GDP up three percent from a year ago. Unemployment rate of 6.1 percent. Consumer Price Index up six percent from a year ago. Index of Leading Indicators up for the last six months. Prime interest rate of ten percent...

Economics

Could you please check this Directions: Match each item with the correct statement. Here are the words: supply elasticity law of supply price system technology price ceiling supply inelastic supply curve shortage market supply taxes 1. principle that suppliers will normally ...

Microecomonics (need to see if i got these right

1. Microeconomics deals with: (Points: 3) the working of the entire economy or large sectors of it. economic growth. individual units in the economy. THIS ONE I PICKED all of the above. 2. The basic concern of economics is: (Points: 3) to keep business firms from losing money...

economics

Best Answer - Chosen by Voters Simply put, the higher the CR the more monopolistic an industry is (or in this case oligopolistic). The 4 firm concentration ratio is usually the standard measure of this. In the example w/ 30% CR you can assume there are likely low barriers to ...

Economics

21st Century Electronics has discovered a theft problem at its warehouse and has decided to hire security guards. The firm wants to hire the optimal number of guards. The follwoign table shows how the number of security guards affects the number of radios stolen each week: # ...

Economics

4. Deregulation and the Cost of Trucking. Suppose the government initially limits the number of trucking firms that can haul freight. The market for truck freight is served by a single firm that produces five million ton-miles of service per year, where one ton-mile is the ...

Economics

1. Suppose that the money supply is currently $500 billion and Fed wishes to increase it by $100 billion. Given a reserve ratio of 0.25 what should it do? 2. Determine the impact on each of the following if 2 million formerly unemployed workers decide to return to school full ...

home economics

okay so i have these 4 questions that i have no clue about...i asked my mom and aunts but they don't make clothes so im stuck on these 4 question i would appreciate if you could please help me 7. You're sewing a child's nylon jacket. You notice the fabric frays easily. Which ...

ECONOMICS

The following relations describe the supply and demand for posters. Qd = 65,000 – 10,000 P Qs = -35,000 + 15,000P Where Q is the quantity and P is the price of a poster, in dollars. a. Complete the following table. Price Qs Qd Surplus or Shortage $6.00 5.00 4.00 3.00 2.00 1....

quantitative methods for business

A manager of an inventory system believes that inventory models are important decision-making aids. Even though often using an EOQ policy, the manager never considered a backorder model because of the assumption that back orderes were “bad” and should be a avoided. However...

Economics - (*CPI*)

In Brazil, the reference base period for the CPI is December 1993. In September 2000, prices had risen by 1,565.93 percent since the base period. The inflation rate in Brazil during the year ending September 2001 was 6.46 percent, and during the year ending September 2002, the...

economics

(Insurance) Let X = R+. Consider a house owner whose house has a risk of burning down with probability 0.001. If the house burns down it is worth $0 otherwise it is worth $1 million. The owner of the house is an expected utility maximizer with a vNM utility function u(x) = x^(...

Economics

Consider the production function Q= 20K^(1/2)L^(1/2). The firm operates in the short run with 16 units of capital. a. The firm's short-run production function is Q=? b. The average product of labor function is AP=? c. The marginal product of labor function is MP=? d. Show that...

Home Economics

1. Is a green pepper green and a red pepper red? Is a hot pepper red? 2. Are hot pepper paste, red pepper paste, green pepper paste the same? 3. Are a hot pepper, a green pepper, and a red pepper the same? 4. Cut a hot pepper into three pieces. 5. Cut hot pepper into three ...

Home Economics

1. Is a green pepper green and a red pepper red? Is a hot pepper red? 2. Are hot pepper paste, red pepper paste, green pepper paste the same? 3. Are a hot pepper, a green pepper, and a red pepper the same? 4. Cut a hot pepper into three pieces. 5. Cut hot pepper into three ...

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

Suppose the price elasticity of demand for a novel translated into English is perfectly inelastic. Assume the initial price of the novel is $24 and the quantity demanded is 222 copies per year. If the price of the novel increases by $3, then the quantity demanded will be ___ ...

economics

Suppose that there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For Iowa the opportunity cost of producing 1 bushel of wheat is 3 bushels of corn. For Nebraska the opportunity cost of producing 1 bushel of corn is...

economics

The demand function for a well known economics textbook is: P = 100 - .005Q The publisher must pay $20 per book in printing and distribution costs and, in addition, it must pay the author a $20 royalty for each book sold. (a) Your job is to provide advice to the publisher. ...

Writing Skills Part 4

1.When creating a writing plan,which of the following should come first? *A.Material that will capture the reader's interest B.The first section of the body of the essay C.A brief summary of the conclusion 2.Which two things must be accomplished by the introduction if the ...

Managerial Economics

I am completely lost in working this problem. 1. The total operating avenues of a public transportation authority are$100 million while its operating costs are $120 million. The price of a ride is $1, and the price of elasticity of demand has been estimated to be -0.4. By law...

economics

You have been hired by a local used car dealer to help in their pricing of used cars. (Hey, it’s temporary thing, just to help you earn some extra cash.) They want to know whether the prices of the cars they sell are more influenced by the age of the car or by the mileage on...

Managerial Economics

I'm not sure I see the light here....Can the economyst help me super size this?!?!?! Thanks! 2) When McDonald’s Corporation reduced its price of the Big Mac by 75% if customers also purchased french fries and a soft drink, the Wall Street Journal reported that the company ...

Economics

1. Why is it difficult for the fed to prevent recessions by lowering interest rates A. The Fed can change the rate only once each year. B. It can take years for local banks to change their rates. C. The Fed's rate does not affect business loans. D. It can take businesses years...

Economics

When Burton Cummings graduated with honors from the Canadian Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truckers that his revenues were typically $25,000 per month, while his operating costs (fuel, ...

Economics

When Burton Cummings graduated with honors from the Canadian Trucking Academy, his father gave him a $350,000 tractor-trailer rig. Recently, Burton was boasting to some fellow truckers that his revenues were typically $25,000 per month, while his operating costs (fuel, ...

Economics

Which of the following events would unambigously cause a decrease in the equilibrium price of cotton shirts? a. an increase in the price of wool shirts and a decrease in the price of raw cotton b. a decrease in the price of wool shirts and a decrease in the price of raw cotton...

economics

can someone give me an example of an industry that has positive and negative externality affected on the economy Lawyers. Pharmacecutial companies. Fast Food Industries (consider the long term health car costs of eating that stuff) Tobacco Gambling in fact, most of the Sin ...

Economics

I have the following question in my assignment: The cost of producing stero systems has fallen over the past several decades. A:Use the supply-and-demand diagram to show the effects of fallaing production costs on the price and quantity of steros sold. B:In you diagram, show ...

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 ...

managerial economics

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 ...

Economics

a. If total expenditures (Social security) were frozen, what would happen to benefits per retiree? To tax payments per worker? (Assume that social security taxes and receipts are balanced in each year) b. If benefits per retiree were frozen, what would happen to total ...

English

I had to rewrite sentences so that there were no longer fragments are they correct? 1. The idea of a credit card first appeared in 1887, according to Lawrence M. Ausbel, author of “Credit Cards,” in the McGraw- Hill Encyclopedia of Economics. 2. Originally an imaginary ...

Economics

1) In which of the following situations would someone have to pay a gift tax? A. A relative dies and leaves you $13,000 in the will. B. Your cousin gives you a car worth $1,700. C. Your grandmother gives you $13,000 toward college. <<--- 2)Which of the following has ...

Economics

The production engineers at Impact industries have derived the expansion path shown in the following figure. The price of labor is $100 per unit. a. What prices does an impact industry pay for capital? b. If the manager at impact decides to produce 180 units of output, how ...

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 this ...

economics

(2 points) Suppose that the following equations describe an economy (C, I, G, T, and Y are measured in billions of dollars and r is measured in percent; for example, r = 10 means r = 10%) 􀜥􀵌170􀵅0.6...

Economics

Help The answer i got is : GDP grew 10% GDP for 2006 using 2005 as the base year increase by 20% real GDP grow? 10% If i'm right, let me know, if not, please show Calculation Thank You Use the following data to answer questions 1-3 (be sure to provide all calculations). ...

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 ...

finance/math

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 ...

economics

ugh my book gives us the easy stuff and then our homework makes no sense. if someone could help me out by directing me to any other sites or just explaining how it works and any formulas it would be great. i want to understand what i'm doing but when my teacher doesn't really ...

Economics

3. Starting from short-run equilibrium, the following occurs: Labor productivity rises, and individuals expect higher (future) incomes. What will be the effects on the price level, Real GDP, and the unemployment rate in the short run? a.Real GDP will fall, the unemployment ...

Economics

3. Starting from short-run equilibrium, the following occurs: Labor productivity rises, and individuals expect higher (future) incomes. What will be the effects on the price level, Real GDP, and the unemployment rate in the short run? a.Real GDP will fall, the unemployment ...

Economics/ Interest Rate

Let's consider a three-month U.S. government bond. The interest rate on these loans is very low because it includes only two of the five components. Which two components of the interest rate are most important for a three-month T-bond?? -Positive rate of time preference -...

economics

Suppose that the demand curve for wheat is Q= 100-10P and the supply curve is Q=10P. The government imposes a price support at Ps= 6 using a deficiency program. 1.What is the quantity supplied and the priced cleared by the market, and the deficiency payment? 2.Graph you ...

Economics

The chapter is on Production and costs in thelong run, we are given a long run expansion path graph, all through out the book we are given labor cost and capital cost, ie. price of labor $5 dollars per unit(w), price of capital $10 per unit (r). Then I get the following ...

economics

since the AC curve in the problem is upward-sloping everywhere, it is not possible to construct a zero-profit equilibrium given the assumptions of the problem (this outcome requires a U-shaped AC curve). this problem will consider an alternative example where a long-run ...

Economics

Suppose that there are 1,000 hot-pretzel stands operating in Toronto. Each stand has the usual U-shaped average total cost curve. Both the market demand curve and the supply curve for pretzels are linear, and the market for pretzels is in long-run competitive equilibrium. a) ...

physical education/sport

explain the view that physical education is a process of educating the whole person Chloe, this is just my opinion, but it is supported by both physiology and psychology. Just as a brain needs age and experience to mature to its potential, the body needs the same thing. Think ...

managerial economics

A golf-course operator must decide what greens fees (prices) to set on rounds of golf. Daily demand during the week is Pd = 36 –Qd/10 where Qd is the number of 18 hole rounds and Pd is the price per round. Daily demand on the weekend is Pw = 50 – Qw/12. As a practical ...

Economics

The economy consists of the following: - working-age population: 20M - full time employment: 8M - part-time employment: 2M (1M of whom wish they had full-time jobs) - unemployment: 1M If 0.6M of those unemployed are frictionally, structurally, and seasonally unemployed, what ...

Algebra

How would I complete this problem? Geometry. The area of a rectangle of length x is given by 3x^2 + 5x. Find the width of the rectangle. I think the width is 3x+5 but not sure. Subjects Art Business Computers English Foreign Languages Health Home Economics Mathematics Music ...

Managerial Economics

Dr. Jeraisy, a well-known plastic surgeon, has a reputation for being one of the best surgeons for reconstructive nose surgery. Dr. Jeraisy enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to be: Q = 480 – 0.2P Where Q ...

Managerial Economics

Dr. Jeraisy, a well-known plastic surgeon, has a reputation for being one of the best surgeons for reconstructive nose surgery. Dr. Jeraisy enjoys a rather substantial degree of market power in this market. She has estimated demand for her work to be: Q = 480 – 0.2P Where Q ...

Economics

The Fed conducts an open market purchase of securities. Explain the effects of this action in the short run and the long run on: a)The quantity of money b)The quantity of money demanded c)The nominal interest rate d)The real interest rate e)Real GDP f)The price level Take a ...

International Economics

Please use one graph per country and show both the autarky and the free trade equilibrium on each graph. Consider the following data on the factor endowments of two countries A and B: Countries Factor Endowments A B Labor force: L 100 workers 50 workers Capital Stock: K 60 ...

Advanced Economics

I know that equilibrium is a static status in model in which relevant constraints are enough so that it is restrictive to ylied testable implications (From Proffesor N.S.Cheung) while disequilibrium is the opposed. HOWEVER, STILL I have questions that are important in ...

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