economics

Popular questions
  1. Economics

    A monopoly firm faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day. Its marginal cost curve is MC = $100 per day. Assume that the firm faces no fixed cost. You may wish to arrive at the answers

    asked by Bob on May 3, 2016
  2. Economics

    An industry currently has 100 firms, all of which have fixed costs of $16 and avg. variable cost as follows: Q Avg. Variable Cost ($) 1 1 2 2 3 3 4 4 5 5 6 6 a. Compute marginal cost and avg. total cost. b. the price is $10. what is the total quantity

    asked by Maggie on December 13, 2006
  3. Economics

    . Consider total cost and total revenue given in the table below: QUANTITY 0 1 2 3 4 5 6 7 Total cost $8 $9 $10 $11 $13 $19 $27 $37 Total revenue 0 8 16 24 32 40 48 56 a. Calculate profit for each quantity. How much should the firm produce to maximize

    asked by SMsm on June 7, 2008
  4. Economics

    What is true of education spending? A. It is a significant expense of state governments. B. It costs the federal government more than Social Security benefits. C. It has increased at a greater rate than health care spending. D. It is the largest part of

    asked by Emma on October 10, 2019
  5. Economics

    Read the statement. Economists note that personal income rose by 5 percent last year. What impact will the change in personal income have on-demand? A. It will cause the demand curve to shift down. B. It will cause the demand curve to shift right. C. It

    asked by Emma on October 30, 2019
  6. Economics

    Suppose that a typical firm in a monopolistically competitive industry faces a demand curve given by: q = 60 - (1/2)p, where q is quantity sold per week. The firm's marginal cost curve is given by: MC = 60. 1. How much will the firm produce in the short

    asked by Cyd on July 22, 2018
  7. Economics

    At a management luncheon, two managers were overheard arguing about the following 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.

    asked by Johnny on July 6, 2009
  8. 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

    asked by peter on February 10, 2012
  9. Economics

    The short-run cost function of a firm is as follows: TC = 200 + 5Q + 2Q2 Where TC = Total Cost Q = Physical units of the product of the firm What would be the level of optimum output?

    asked by Shiv on June 30, 2018
  10. Economics

    Which of the following is not a factor of production? A. Land B. Capital C. Labor D. Goods and Services D?

    asked by Nirvana on January 29, 2016
  11. economics

    you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satelluite

    asked by justin on January 21, 2014
  12. economics

    a beautiful girl 22 years young has just graduated from college. She accepts a good job and desire to establish her own retirement fund. At the end of each year there after she plans to deposit 2000 in the fund out 15% annual . How old will she when the

    asked by jecren on August 15, 2017
  13. Economics

    you are hired as the consultant to a monopolistically competitive firm. The firm reports the following information about its price, marginal cost, and average total cost. Can the firm possibly be maximizing profit? If the firm is profit maximizing, is the

    asked by Sally on December 5, 2006
  14. Economics

    What prevents a monopolistic competition from being perfectly competitive? A. Consumers are not knowledgeable. B. The market is dominated by one firm. C. Products are not identical. D. The barriers to entry are significant. Is it A?

    asked by Emma on October 7, 2019
  15. economics

    If someone could help me with this question, that would really help. I'm just not sure what the formula would be? Suppose a market basket of goods and services includes the goods for two successive years. According to the table, between the years 2012 and

    asked by phoebe on February 9, 2015
  16. economics

    Two goods are complements when a decrease in the price of one good a. decreases the quantity demanded of the other good. b. increases the quantity demanded of the other good. c. increases the demand for the other good. d. decreases the demand for the other

    asked by chris on September 24, 2010
  17. Economics

    Beachfront resorts have inelastic supply, and automobiles have an elastic supply. Suppose that a rise in population doubles the demand for both products (that is, the quantity demanded at each price is twice what it was). a. What happens to the equilibrium

    asked by Shelle on July 10, 2008
  18. Economics

    How is the state of domestic tourism if the Rand is strong

    asked by Mbali on August 23, 2015
  19. Economics

    Which one of the following statements about efficiency wages is correct? A. An efficiency wage is a "wage" that contains a profit-sharing component as well as traditional hourly pay. B. An efficiency wage is an above-market wage that minimizes a firm's

    asked by Fatima on May 27, 2018
  20. Economics

    A man wishes to bequeath to his daughter P20,000 ten years from now. What amount should he invest now if it will earn interest of 8% compounded annually during the first 5 years and 12% compounded quarterly during the next 5 years?

    asked by Student on June 24, 2018
  21. Economics

    17. The current price for a good is $20, and 100 units are demanded at that price. The price elasticity of demand for the good is -1. When the price of the good drops by 10% to $18, consumer surplus: Increases or decreases by $__?

    asked by Anonymous on April 25, 2015
  22. economics

    1) Give an example that you believe demonstrates when the cost of government actions outweighs the benefits.Identify the factors that may cause the costs of government actions to outweigh the benefits. I'm confused what does that mean? Thank you for your

    asked by sean on July 23, 2014
  23. 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

    asked by Anonymous on April 10, 2012
  24. economics

    What is abnormal supply curve and diagram

    asked by nifty on October 24, 2016
  25. Economics

    Questions: Are the following workers more likely to experience short-term or long-term unemployment? Explain. a. A construction worker laid off because of bad weather. b. A manufacturing worker who loses her job at a plant in an isolated area. c. A

    asked by Sarah on March 24, 2007
  26. Economics

    Although not explicitly mentioned in Chapter 20, John Maynard Keynes is considered a foundational source in the understanding of macroeconomics. After performing research outside the textbook, please explain in three well-structured paragraphs the basic

    asked by mK on May 16, 2019
  27. Economics

    2. Identify three decisions that you (micro) have made recently. 3. Identify three decisions that our government (macro) has made recently. Use the internet, the newspaper, or television news to research this information. 4. List three resources that you

    asked by Anonymous on January 31, 2017
  28. economics

    wireless high speed internet is provided for free in the airport of the city of communityville a)At first, only a few people use the service. What type a good is this and why? b) Eventually, as more find out about the service and start using it, the spend

    asked by Mankiw on January 5, 2012
  29. Economics

    1) Which of the following is an example of a measure of labor productivity? a. Autos get 30 gallons to the mile. b. The growth rate of per capita real GDP is 3.5 percent per year. c. Farm workers produce 30 bushels of wheat per worker per day. d. Wages

    asked by Suzy on June 8, 2010
  30. economics

    Take a fast moving consumer good(FMCG) like washing machine detergent . Analyse the factors that determine the demand of this product .present your findings in form of a class work

    asked by tuba on June 1, 2019
  31. economics

    If there is no cyclical unemployment, the economy is said to be ______________. at full employment in the recovery phase of a business cycle at the worker saturation point in recession at a trough in the business cycle

    asked by Dolly on December 6, 2017
  32. Economics

    Which best describes Robert Owen’s political ideology and its impact on business? He was a Communist who believed business could only flourish if the government owned it. He believed in a laissez-faire political system and the absence of government in

    asked by Emma on September 26, 2019
  33. economics

    The table below shows the continuous assement scores obtained by 30 selected ss1 students in economics. scores 1-5 6-10 11-15 16-20 21-25 26-30 frequency 2 5 3 10 8 2 (a) determine the mean score of the students. (b) calculate the modal score.

    asked by david t on July 11, 2020
  34. Economics

    What is a potential negative outcome when the government seeks to ensure specific market outcomes? decrease in business tax incentives regulations that slow down innovations unpleasant information shared by businesses lack of consumer protection

    asked by John on June 18, 2020
  35. economics

    Think about how each scenario would affect the price of khaki pants. a.A new technology reduces the time it takes to make a pair of khaki pants. b.The price of the cloth used to make khaki pants falls. c.The wage rate paid to garment workers increases.

    asked by lynn on October 18, 2015
  36. Economics

    1) Give an example of a fairly major purchasing decision you've made in your lifetime. How did you justify the purchase? How did you prepare for it financially once you decided to make the purchase? 2) What aspects of your decision-making process fit the

    asked by Otar on September 17, 2013
  37. economics

    the problem of what to produce in south africa is solved by?

    asked by pamela on July 25, 2019
  38. Economics

    Identify and quantify at least four social cost and four social benefits for each project.

    asked by Thabiso on May 15, 2019
  39. ECONOMICS

    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

    asked by KIM on July 31, 2011
  40. Economics

    Which of the following is true about the quantity of money in the U.S. economy? (A) It is equal to the amount of cash in circulation(B)It is much greater than the amount of cash in circulation(C)It is equal to the value of the government's gold

    asked by SYshk on November 5, 2007
  41. economics

    Suppose that people consume only three goods, as shown in this table: (5 Marks) Tennis Balls Tennis Racquets Gatorade 1998 price $2 $40 $1 1998 quantity 100 10 200 1999 price $2 $60 $2 1999 quantity 100 10 200 What is the percentage change in the price of

    asked by shelby on September 25, 2006
  42. Economics

    The real value of the U.S. dollar is determined by the U.S. government value of goods and services it buys*** U.S. investors in the foreign market foreign investors in the foreign exchange market supply and demand in the open market I don't know if my

    asked by TM on December 1, 2018
  43. Economics

    Which one of the following is an example of direct foreign investment? A. General Motors building an auto production facility in China B. The purchase of debt issued by the Panamanian government C. A U.S. bank granting a loan to a Guatemalan firm D. A U.S.

    asked by Fatima on June 19, 2018
  44. economics

    In which of the following situations would the price of a good be most likely to increase? An increase in production costs results from a rise in wages. A rise in demand happens too quickly for producers to increase production to keep up. A breakthrough in

    asked by 2phoneeeeee on November 9, 2014
  45. Economics

    got this from my teacher, A monopolist faces a demand curve given by the following equation: P = $500 − 10Q, where Q equals quantity sold per day. Its marginal cost curve is MC = $100 per day. Assume that the firm faces no fixed cost. and have the

    asked by Julie on May 7, 2013
  46. Economics

    Suppose consumers spent $42 million on Christmas trees last year when the average tree cost $30 and this year spend $42 million when the average tree costs $25. Assuming nothing else changed, this data suggests that a. consumers bought the same number of

    asked by Rosa on January 19, 2010
  47. Economics

    Please help me. What are the primary reasons people choose to invest and trade stocks? (Select all that apply.) to earn capital gains*** to earn predictable quarterly interest to earn a dividend*** to earn liquid money

    asked by Emma on October 31, 2019
  48. economics

    If the demand function is Qd=-0.5+20,calculate the quantity demand when the price is 15.00?

    asked by CEO on June 27, 2019
  49. Economics

    Jim buys only milk and cookies. a. In year 1, Jim earns $100, milk costs $2 per quart, and cookies cost $4 per dozen. Draw Jim's budget constraint.

    asked by Amany on September 14, 2011
  50. economics

    When Mcdonal's corp reduced the price of its big mac by 75% if consumers also purchase french fries and a soft drink. the company was hoping the novel promotion would receive its U.S. sales growth. It didn't. within two weeks, sales had fallen. Using your

    asked by Ray on May 27, 2009
  51. Economics

    Description of the market form in which milk producers operate

    asked by Anonymous on June 19, 2017
  52. Economics

    The price received by sellers in a market will decrease if the government Answer A. imposes a binding price floor in that market. B. decreases a binding price ceiling in that market. C. decreases a tax on the good sold in that market. D. increases a

    asked by Will on November 29, 2011
  53. Economics

    In what key area do the benefit principle of taxation and the ability-to-pay principle of taxation differ? A. how taxes should be collected B. which types of items should be taxed C. who should pay the taxes D. what percentage of income should be taxed Is

    asked by Emma on October 10, 2019
  54. Economics

    The table shows the amounts held as the various components of M1 and M2. Calculate the value of M1 and M2. The value of M1 is ​$nothingm billion. The value of M2 is ​$nothingm billion. Item ​$billions Savings deposits 300300 Checking deposits 200200

    asked by UB on November 12, 2018
  55. 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

    asked by Cole on September 27, 2015
  56. economics

    What was Marx's purpose in writing this essay? Does he succeed in getting his point across?

    asked by 2phoneeeeee on November 7, 2014
  57. Economics

    Suppose Honda's total cost of producing 4 cars is $225,000 and its total cost of producing 5 cars is $250,000 a)What is the average total cost of producing 5 cars b)What is the marginal cost of the fifth car? c)Draw the marginal cost curve and the average

    asked by Malima on August 13, 2014
  58. 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

    asked by Ronald on March 20, 2012
  59. Economics

    Harold owns a cranberry bog in which he grows cranberries. Harold’s farm is a competitive, profit-maximizing firm. As such, Harold much decide (i): how many cranberries to sell. (ii): what price to charge for his cranberries. (iii): what wages to

    asked by Keaton on November 29, 2011
  60. Economics

    Sandra purchases 5 pounds of coffee and 10 gallons of milk per month when the price of coffee is $10 per pound. She purchases 6 pounds of coffee and 12 gallons of milk per month when the price of coffee is $8 per pound. Sandra’s cross-price

    asked by Will on November 29, 2011
  61. 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

    asked by jenny on September 20, 2011
  62. economics

    The hand made snuffbox industry is composed of 100 identical firms, each having short-run total costs given by STC=0.5q^2+10q+5 and short-run marginal costs by SMC=q+10 where q is the output of snuffboxes per day. a. What is the short-run supply curve for

    asked by jennifer on November 3, 2007
  63. Economics

    When XYZ firm entered the market for good two years back, it kept the price of its product low to attract customers away from its leading competitor. The firm has now established itself and has a market share of 20 percent. The management of XYZ is is

    asked by Cole on September 27, 2015
  64. economics

    Are there some jobs that don't fit Marx's claims? If so, what are they, and why don't they lead to estrangement and alienation? If not, why are estrangement and alienation part of all forms of labor? i said not estrangement and alienation are part of all

    asked by 2phoneeeeee on November 7, 2014
  65. economics

    Mauricio has a circus act that involves monkeys on unicycles. Mauricio has a fixed amount to spend on unicycles and monkeys. it shows Mauricio's initial budget constraint. The price per unicycle is $120 and per monkey is $90. what happens to Mauricio's

    asked by marg on October 10, 2014
  66. economics

    Is your consumer behavior influenced by advertising or the news? Discuss one or two examples of media that have influenced your desires or affected your consumer choices

    asked by christian on March 26, 2013
  67. Economics

    PROBLEM SOLVING 1: "ANDREA'S SOFTWARE BUSINESS" I. Complete the following table: DO THE MATH Data Number of Programs Total Fixed Costs Total Variable Costs Total Costs Marginal Costs Average Fixed Costs Average Variable Costs Average Total Costs 0 $60 $0

    asked by Timithy on December 4, 2012
  68. economics

    Could someone check my work? Please When the government attempts to cover large deficits by creating more money, what is the probable result called? government borrowing hyperinflation (my choice) excess currency full employment 2. What is one of the major

    asked by Lee on November 6, 2012
  69. Economics

    The accompanying table shows a car manufacturer’s 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

    asked by shay on May 25, 2011
  70. Economics

    advantages and disadvantages of allocating resources through the public sector

    asked by Sarah on January 30, 2010
  71. economics

    What should Tom Sloane and U.S. Pharmaceutical of Korea do to improve collections from wholesalers?

    asked by Max on June 24, 2008
  72. Economics

    Determine whether each of the following would cause a shift in the aggregate demand curve, the aggregate supply curve, neither, or both. Which curve shifts, and in which direction? What happens to aggregate output and the price level in each case? a. The

    asked by Jeffrey on September 6, 2006
  73. Economics

    Andrew quits his job as an accountant where he earns $60,000 per year to go back to school for two years to get an MBA degree. He attends a school that charges $25,000 per year for tuition and related expenses. How much is the total cost (explicit cost

    asked by Allysa on February 26, 2019
  74. Economics

    Which one of the following statements about capital flight is correct? A. Capital flight refers to the tendency of developing countries to overinvest in commercial aircraft. B. Capital flight refers to developing countries' citizens accumulating or

    asked by Fatima on June 18, 2018
  75. Economics

    Suppose a university decides to alter its tuition schedule by separating its students based on how many years of college they have completed. Most university programs require four years to complete. First-year students would get a 13% tuition reduction.

    asked by Max on October 17, 2017
  76. Economics

    1. According to the data table below, what is the unemployment rate?: Total Population: 1,500 Population under 16 or institutionalised: 360 Not in the labor force: 450 Unemployed: 69 Workers with part-time work who want full-time: 30 A. 10% B. 11% C. 8.4%

    asked by Wesley on July 13, 2016
  77. Economics

    Two firms produce the same good and compete against each other in a Cournot market. The market demand for their product is P = 204 - 4Q, and each firm has a constant marginal cost of $12 per unit. MR1 = 204 - 8q1 - 4q2. Let q1 be the output produced by

    asked by Cole on April 11, 2015
  78. economics

    which of the following statements about inflation are true? check all that applies a) policy makers also worry about a negative inflation rate, or deflation b) painful government actions may sometimes be necessary to bring down a high inflation rate. c) A

    asked by will on September 23, 2012
  79. Economics

    Suppose that some firms in a competitive industry are earning zero economic profits, while others are experiencing losses. All else equal, in the long run, we would expect the number of firms in the industry to A. increase. B. decrease. C. remain the same.

    asked by Bob on November 29, 2011
  80. economics

    Market research has revealed the following information about the market for chocolate bars. The demand schedule can be represented by the equation QD=1,600-300P, where QD is the quantity demanded and P is the price. The supply schedule can be represented

    asked by chris on July 9, 2010
  81. Economics

    I got a lot of problems with this exercise. I really hope you can help me. Thanks! Samantha Roberts 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

    asked by Muusen on March 16, 2009
  82. Economics

    Which one of the following statements about the World Bank is correct? A. The World Bank provides gold for developing countries that want to go on the gold standard. B. The World Bank provides short-term loans to developing countries that are incurring

    asked by Fatima on June 6, 2018
  83. Economics

    Elesha babysits on the weekends for extra money. Suppose that three neighbors with children are interested in paying Elesha to babysit their children. In particular, Dr. and Mrs. Brown would be willing to pay $30 to have Elesha babysit their children, Mrs.

    asked by Cole on April 25, 2015
  84. Economics

    In a perfect competitive market setting,which of the following would be a true statement? a)market price automatically sets itself exactly at equilibrium b)market price rarely trends toward the equilibrium value c)wage rates trend toward marginal revenue

    asked by Andrew on February 24, 2015
  85. Economics

    Compensation of employees $194.2 US exports of goods and services 17.8 Consumption of fixed capital (depreciation) 11.8 Government purchases 59.4 Taxes on production and imports 14.4 Gross private domestic investment 63.9 Transfer payments 13.9 US imports

    asked by Anonymous on June 25, 2013
  86. 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

    asked by Carol on March 20, 2012
  87. economics

    What two kinds of changes in the capital stock can improve labor productivity? How can each type be illustrated with a per-worker production function? What determines the slope of the per-worker production function? 14-) (Rules of the Game) How do “rules

    asked by nikita on October 18, 2011
  88. Economics

    6. The following are hypothetical exchange rates: 2 euros = 1 pound; $1 = 2 pounds. We can conclude that A. 1 euro = $2. B. $1 = 4 euros.******my answer C. $1 = .5 euros. D. 1 euro = $.50.

    asked by feecan on May 20, 2018
  89. Economics

    Economics basics Practice 1. How does scarcity affect producers? A- Limited costs prevent producers from hiking prices. B- Limited demand prevents producers from offering low prices. C- Limited time prevents producers from finding the best employees. D-

    asked by Brons on May 10, 2017
  90. economics

    3. The following facts characterize the furniture industry in the United States:39 a. The industry has been very fragmented, so that few companies have the financial backing to make heavy investments in new technology and equipment. b. In 1998, only three

    asked by mike on May 3, 2015
  91. Economics

    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

    asked by Eric on July 15, 2013
  92. economics

    Suppose the price of widgets falls from $7 to $5 and consumption of widgets rises from 15 widgets a month to 25 widgets. Calculate your price elasticity of demand of widgets. What can you say about your price elasticity of demand of widgets? Is it Elastic,

    asked by steve on September 14, 2012
  93. Economics

    1.Which of the following is consistent with the law of supply? a.As the price of calculators rises, the supply of calculators increases, ceteris paribus. b.As the price of calculators falls, the supply of calculators increases, ceteris paribus. c.As the

    asked by Trying on July 4, 2009
  94. economics

    Suppose the income tax rate schedule is 0 percent on the first $10,000; 10 percent on the next $20,000; 20 percent on the next $20,000; 30 percent on the next $20,000; and 40 percent on any income over $70,000. Family A earns $28,000 a year and Family B

    asked by Margary on June 23, 2009
  95. Economics

    I think I get this but could use some guidance to make sure, I am having problems with 2e). 1)In an article about the financial problems of USA Today, Newsweek, reported that the paper was losing about $20 million a year. A Wall Street analyst said that

    asked by Ed on June 19, 2007
  96. Economics

    A fishing boat owner brings 50,000 fish to market and the market price is $4 per fish. Her average variable cost of 50,000 fish is $1 and the fixed cost of the boat is $100,000, what is her profit per fish? a)$1 b)$500 c)$5,000 d)$25,000 e)$500,000 the

    asked by Julian on December 3, 2006
  97. Economics

    Consoder a monolist facing a linear demand Q=60-P/3. The monolist products with constant marginal costs c=3 and no fixed costs. Its marginal revenue function is MR=60-6Q A) plot demand function in a picture together with the marginal revenue curve and

    asked by Emmanuel on July 6, 2020
  98. Economics

    What is true regarding taxes in a market economy? They tend to be high because the government is more efficient. They tend to be high so that the government can develop a budget surplus. They tend to be low in order to encourage work. They tend to be low

    asked by Emma on September 26, 2019
  99. economics

    Can South Africa afford to have totally free trade with the rest of the world?

    asked by wendy on May 8, 2019
  100. Economics

    Develop a hypothetical table of information for coffee that shows demanded at various price and supply of coffee at these prices draw a demand and supply curve and show a equilibrium price at which the market is cleared of its aupplies

    asked by Vishwendra on September 3, 2018

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