Microeconomics questions and answers in October 2022

This paper is individual work. Choose an industry that you have worked in or would like to work in. Describe the industry and why you chose it. The world of business is changing rapidly for all secto...

. Getting Started The Economic Concepts and Questions discussion forum is repeated in each workshop to provide you a venue for questions, insights, and examples to enhance everyone's mastery of the ...

Suppose the production of electricity through coal burning is the leading cause of air pollution, a negative externality, in surrounding areas. Illustrate and explain how a government imposed pollutio...

. Suppose Jordan is open to free trade in the world market for oranges. Because of Jordan's small size, the demand for and supply of oranges in Jordan do not affect the world price. The following ...

. Suppose there is a policy debate regarding the United States' imposing trade restrictions on imported steel rods. Read the following scenario and answer the question that follows. Domestic produce...

. The following graph shows the supply and demand curves for Airbnb rentals in the hypothetical economy of Luxuria in 2010, two years after Airbnb launched; the equilibrium quantity of rentals was 4...

. Government—imposed taxes cause reductions in the activity that is being taxed, which has important implications for revenue collections. To understand the effect of such a tax, consider the mont...

Consider the contents of the WSJ video "Four key market metrics that signal investors are prepping for recession" - https://www.wsj.com/video/series/dion-rabouin/four-key-market-metrics-th...

A monopolist operates in a single market where it faces the (inverse) demand curve P(Q) =500-20Q, where Q is the number of units of output the monopolist produces and sells. The monopolistís total ...

What are the possible directions in which either a) a demand curve and b) a supply curve can shift, and in which circumstances? Especially for the supply curve, it's confusing to me - only left-right ...

. 100 The figure shows a Lorenz Perfect herquality curve. If Area A is equal to Line Cumulative % of Income One 0.15 and Area B is equal to 0.35, what is the Gini 190 coefficient? (Answers are Cumul...

. When deciding which market structure model to use, you should consider: A. The number of firms in the industry B. Whether the product produced is homogeneous or differentiated C. How easy it is fo...

. Enrique is a movie buff. He likes to watch on-demand movies from his cable company, which cost $5 each, and he also likes to go to the local movie house, which charges $15 a ticket. Suppose that g...

. When a firm improves a product so that it has more value to consumers, we can show that event graphically as A reduction in the price of the product A rightward shift in the demand curve A leftwar...

. Put a pin in it Consider the effect on the market for chicken if the corporate chicken farmers succeeded in lowering wages in the chicken industry. The equilibrium quantity of chicken would Increa...

. Consider the effect on the market for chicken if the Surgeon General announced that red meat causes heart disease. The equilibrium price of chicken would Increase Decrease Stay the same -> 99+ ...

. Consider the effect on the market for chicken if the Surgeon General announced that eating red meats, such as lamb and beef, causes heart disease. This would cause A leftward shift in the demand c...

My question: A guy sells lemonade in a competitive market. His production function is f(x1,x2)=x11/3 x x21/3 Where 1/3 above is raised to 1/3 Output in gallons X1=number of pounds X2=number of ...

Have a question in course Microeconomics. A person owns a competitive firm whoch has this cost function: c(y)=2y2 + 5y+6. Question is to write equations for the average VC function and marginal cos...

Need some input for a question and to get going Question: Debbie raises oranges. Where L is the number of units of labor she uses and T is the number of units of land she uses, her output is 𝑓(?...

fill in the blanks . Consider a car owner whose car was vandalized and lost it to a fire. The insurance has said to the car owner that it will pay 90% of the commercial value of the car, where it is ...

. 3. A homeowner in rural Oregon is considering adding defensible space and thinning trees around their home to improve protection against wildfires. The following table gives the homeowner's ...

Harvey has electric heat and says that he needs electricity. No matter what the price, he says he will pay it to keep warm. what information is Harvey giving about the elasticity of demand? Might ther...

at p* = $140 per ticket. At that price, q* = 3,000 tickets were sold. The price elasticity of supply for these tickets is Es = 3. The demand function for tickets is q = 3,700 − 5p. a.) What is th...

What is an Ion Channelopathy? Ion Channelopathies are disorders and diseases that result from problems associated with an ion channel. The problem can be genetic such as an inherited mutation or it ...

. Consider the market for designer purses. The following graph shows the demand and supply for designer purses before the government imposes any taxes. First, use the black point (plus symbol) to in...

Suppose you're the marketing director of "EverybodyLovesCandy" candy company. How would you develop your company's Halloween marketing plan ? Please share your thoughts with us! (We will keep it confi...

I. How to Measure Blood Pressure in the Clinic Directions: Watch the video by PolyFit demonstrating the technique for measuring blood pressure on a patient and answer the questions below. Use comple...

. The government is considering levying a tax of $100 per unit on suppliers of either leather jackets or smartphones. The supply curve for each of these two goods is identical, as you can see on eac...

. Complete the following table by using the previous graphs to determine the values of consumer and producer surplus before the tax, and consumer surplus, producer surplus, tax revenue, and deadweig...

Q2 . See around you and pick up a firm which is either dominating the market or trying to create monopoly. (a) Write in brief about the firm chosen and explain how the firm is trying to creat a monopo...

You are given the following information on computech Pvt. Ltd. Item Amount ($) Total revenue 500000 Wages and Salaries 400000 Forgone salary 50000 Materials 50000 Forgone rent 10000 Interest paid ...

A team of three people in a research company is engaged in two activities: a) collecting data and b) running statistical process. Each member of the team has different abilities in performing these ta...

Explain how the laws of supply and demand help us understand the way share prices change on a daily basis. In your answer, explain four non-price determinants of the demand and supply of share shares ...

. uiz: Quiz 7 com/courses/64153/quizzes/306152/take (Figure: Darya and Anya I) Darya , Anya 900 , 0 Pass Anya Pass Play 80 , 140 Darya Play 500, -100 a. What is the Nash equilibrium of this game? b....

Read Chapter 3 "Reciprocity and Collusion" of Kreps's textbook (Microeconomics for managers - David M. Kreps) . Then, pick up one story, argument, or explanation on a certain theory written in the cha...

Suppose the price for ride is initially $25, but then falls to $20 due to a recession. What is the price elascity of demand for taxi rides? Using the midpoint formula, the price elasti city of demand ...

In many large U.S. cities, monopoly owners of sports franchises have been lobbying local governments for new publicly financed sports stadiums. Is this a form of rent seeking? Go to Heartland Institut...

Please describe the changing structure of equity markets particularly after NASDAQ's decision to move its stock-markets to AMAZON's AWS's cloud and a similar tie-up between GOOGLE's cloud, GCP, and Ch...

Can i please get help with this assignment plzz? https://www.youtube.com/watch?v=Ng3XHPdexNM 1. Referring to my lecture notes : If price is rising and total revenue is rising , the good must be:...

Suppose that three individuals each benefit from a public good. The marginal cost of the public good provision is fixed at $15 per unit: MC = $15 Whereas each of the three individuals (Person 1, P...

Q4 James Collier left his job at a large corporation where he had worked as a senior accountant. He was getting $82000 as yearly salary. He established his own J.C. Accounting firm. J.C. Accounting ea...

Q1. You have been hired as an economic consultant by a price-taking (a perfectly competitive) firm that produces T-shirts. The firm already has a factory, so it is operating in the short-run. The pric...

Suppose that three individuals each benefit from a public good. The marginal cost of the public good provision is fixed at $15 per unit: MC = $15 Whereas each of the three individuals (Person 1,...

https://freakonomics.com/podcast/nsq-maximizer-satisficer/ According to the podcast, What are some areas where it makes more sense that households might optimize and where might they satisfice inste...

discuss the ancient law code, Les talionus, from Hammurabi's Code, that reflected the following principle: "the best system of justice is one that rests on the principle of 'an eye for an eye and to...

Suppose Canada produces two types of goods: agricultural and capital. The following diagram shows its current production possibilities frontier for barley, an agricultural good, and industrial robots,...

Discuss how differences in resource endowments can be significant factors in determining opportunity cost and comparative advantage. Such differences include climate, soil composition, education and t...

The following UN Sustainability Goals are covered in this course: GOAL 5: Gender Equality GOAL 8: Decent Work and Economic Growth GOAL 10: Reduced Inequality Explain and Discuss how achievement of ...

. Do the following functions exhibit increasing, con- stant, or decreasing returns to scale? What happens to the marginal product of each individual factor as that factor is increased and the other ...

. ) .n Suppose you operate a copying service that has two copy machines. After some experience, you ﬁnd that hiring additional workers increases your copying capacity by 500 sheets per worker each...

. Farmer Brown grows peaches in Georgia. Suppose the market for peaches is perfectly competitive and that the market price for a box of peaches is $38 per box. Farmer Brown's marginal cost of produc...

Discuss scarcity, opportunity cost, and economic growth and how they relate to your everyday life experience. Mention the concepts and elaborate. Discuss how one topic from elasticity or costs relate ...

solution and explain why MC=AVC then q=o my solution show that MC=AVC 20q+50=10q+50+1000/q and i got q=10 i don't know where i do wrong . Perfect Competition Consider a perfectly market where a...

Which of the following is NOT a characteristic of a perfectly competitive industry? A. firms seek to maximize profits B. profits may be positive in the short run C. there are many firms D. there are d...

What four types of creative changes do entrepreneurs initiate in a market economy? X X X X What is financial capital and where does it come from? Briefly, who ISN'T an entrepreneur? What is inno...

. Complete a Journal Entry: Consider the following payoff matrix for an airline duopoly: Relax Air Price high Price low Price high | $6m, $6m $3m, $8m Luxury Air Price low $8m, $3m $4m, $4m A. Name ...

Why are philosophers so interested in when something becomes a person? Aren't we all people? I thought the topic was abortion!?! Explain why understanding what personhood is, is important to the abort...

In the pharmaceutical industry, when a firm discovers a new drug, patent law gives the firm a monopoly to produce the drug until the patent runs out (20 years in many developed countries such as Canad...

With reference to "The Parable of the Seaside Inn", answer the following questions: Why do some resort hotels stay open during the off-season when the bargain rates they charge do not cover their "ful...

Investment opportunities of Singapore and Thailand for an Australia engineering construction company looking to expand out. (e.g. In Singapore govt announce in budget to increase spending on infrastru...

With reference to the Globe and Mail article "Reserve-based businesses go global as Indigenous entrepreneurs tap into e-commerce" and Section 8.7 in the textbook, explain the role of technological cha...

pls show using graphs as well. Suppose that we are considering the market for windmills. The private demand for windmills is given buy: Q = 140 - 2p And the private supply of windmills is given by: Q ...

What are some characteristics of perfect competition? Is the Banana market a perfect competition? When you are buying bananas, what is your decision-making process? Do you have any favorite bran...

Mario recently opened a pizza restaurant and has one pizza oven. The data for his restaurant is in the table below. Answer the following: Fill in the last column. Explain how the law of diminishing re...

Consider the market for rolled cigarettes in the early-twentieth century. Suppose it is monopolized. The market demand function is: P=12-2X; where P is the price per pack, and X millions of packs per ...

Question 1 To tackle climate change, suppose Singapore imposed a carbon tax t on our imports of energy. Analyse the welfare effects of such a policy, relative to the initial state of free trade. (Yo...

. 4. Houston has 100 restaurants, 99 of which employ chefs of 'normal' ability at a salary of $50,000 per year. These 99 restaurants earn revenue of $250,000 per year, which is just enough to ensure...

Production requires one plane. The amount you pay each period to rent the plane depends on the number of flights per period. The table shows the total amount you pay per period to rent the plane as a ...

Rafael quit his job paying him $71,000 per year to be a consultant. Last year, he spent $9,000 on Google and Facebook advertisements and paid himself $57,000. Based on this information, what were his ...

9.3 Test your Knowledge (Question): Watch the following video(s), which you can access in the Weekly Media object or by clicking on the link(s) below: and answer the question. http://www.youtube.com/w...

. Isaac and Jasmine are competing to become the Tiger party's candidate in the general election to become President. The Tiger party candidate will run against the Rhino party candidate in the gener...

. Bettina and Astrid are working on a programming assignment and have to decide which language to use, either Java or C++. The following table represents their payoffs for each combination of choice...

For each prompt below, carefully and thoroughly follow the directions. For the graphs, be certain to accurately label all axes, curves, and equilibria points. Use arrows to indicate the direction of a...

A single-price profit-maximizing monopolist is enjoying economic profits. (a) Graph its marginal cost (MC), average total cost (ATC), marginal revenue (MR), and demand curves (D), labeling all. (b) La...

Suppose there are two consumers, A and B. The utility functions of each consumer are given by: U A (X,Y) = X 1/3 *Y 2/3 U B (X,Y) = X + 6Y Suppose that there is a total of 12 units of Good...

Finding Short-Run and Long-Run Equilibrium A market initially has N=20 firms each with identical costs C(q)=0.25q2+100. Demand is QD=1600-40p. Assume a constant cost industry. (a) Find the sho...

Question 3 (Cap and trade versus emissions tax) The European Union (EU) emissions trading system is a cap-and-trade system for reducing industrial greenhouse gas emissions (negative externalities) to ...

Question 2 (Consumption externalities) a) Provide an example of a negative consumption externality. Describe the private and social marginal benefits associated with this consumption externality and...

Identify and explain the key economic factors that should be considered before investing in or expanding a construction business in a foreign country. Example (GDP,Inflation rate, interest rate, une...

5. A decision at the margin Dmitri is a hard-working college freshman. One Sunday, he decides to work nonstop until he has answered 200 practice problems for his physics course. He starts work at 8:00...

The market for Dominican Republic resorts is on equilibrium. Assume that Hurricane Marilyn destroys much of the hotels in Dominican Republic. Analyse the effect of the hurricane on the DR's market? Ho...

A factory hires workers at a wage of w=4 and capital at a rental rate of r=3. The factory currently has four units of capital (K=4). Output (Q) is determined by the production function: Q = 0.25L^...

1. The Fed and Monetary Policy Monetary policy is the action taken by the Federal Reserve to expand or contract the money supply and influence interest rates. What are the current unemployment and i...

When Tom produces 93 melons a day, the average total cost is ----- a melon. . Tom leases a farmer's ﬁeld for $100 a day and grows melons. He pays students $70 a day to pick melons and he leases ...

. 2. earrings - NWAUI 2 4 6 8 Q hairbands issume the graph shown represents Dana's budget constraint. If Dana's income to spend on these two items decreased, which of the ollowing could be said?. Mu...

Kamloops is located in the interior of British Columbia which has become a prominent wine growing area due to its mild and dry climate. A new winery has incurred the costs listed below. For each cost,...

For the past 5 years, Sandi has worked as a data analyst earning $40,000 during her last year. She quit her job to start a consulting business. She has clients lined up and expects her revenue to be $...

(4)Distinguish between the following pairs of concepts with the use of diagrams where necessary: (4a)Law of supply and Law of demand (4b)Quantity demanded and Demand (4c)A change in Price and a change...

Consider a simple Hotelling city setup. There are two firms located at either end of a street of length one mile (so, Firm 1 is at 0 and Firm 2 is at 1). 100 consumers are uniformly located along th...

Assignment Questions : Q1. You have been hired as an economic consultant by a price-taking (a perfectly competitive) firm that produces T-shirts. The firm already has a factory, so it i...

A recipe for Goat Cheese and Walnut Salad requires 270 grams of Romaine lettuce to make 12 portions of the salad If a head of Romaine lettuce yields 540 grams of chopped lettuce, how many heads will b...

using the concept of "cultural norms", as discussed in the video on the tragedy of the commons and "Aboriginal Perspectives on Sustainable Development". (quotation marks with referencing where appli...

Use Google Links to an external site . to do a web search for the website of the corporation of your choice that has not been researched by another student. Find that corporation's annual report to st...

"For Small Businesses, It's a Virus Chain Reaction" By Ruth Simon, The Wall Street Journal, March 21, 2020 WSJ. Consider the concept of the multiplier introduced in the Basic Economic Relationships ...

he PPF for FlingIt, a Frisbee producer, is given below: . Required information For Flinglt's current work force and factory setup, Point A is |Infeasible it:12 Point B is Efficient Point...

. 4000 Saved Question 4. A restaurant with one, two, three, or four employees can serve 35, 50, 64, or 75 customers, respectively. The marginal product of the third worker is: Typed numeric answer w...

(6a)Plot the demand and supply curves for gasoline consumption in the state of New York given the following hypothetical annual data: Data for annual gasoline demand: (Qd=1.5m liters, P=$1.20/liter), ...

(1a)What is the concept of the central economic problem in a society? (1b)Why does the central economic problem exist in any society? (1c)Does the central economic problem manifest itself differentl...

discuss other ways the government intervenes in the rental housing markets in the US or elsewhere in the world. Explore the policies that are currently implemented across the country and the globe ( s...

You live in a town with 300 adults and 200 children, and you are thinking about putting on a play to entertain your neighbors and make some money. A play has a fixed cost of $2,000, but selling an ext...

Suppose the market for shrimp starts in equilibrium. Then, the prices of beef and chicken rise significantly. Would this cause a shift of the the demand curve? a shift of the supply curve? or neit...

Suppose the market for organic dog food starts in equilibrium. Then, suppose the cost of the organic ingredients used to make the pet food rises significantly. Is this a change in a non-price determi...

For this question, first select the answer you think is correct from among (a) through (d) and then briefly explain why. The law of diminishing marginal returns means that (a)?...

What is the difference between demand that is price elastic versus inelastic? Consider the following two goods -- milk and tickets to see a movie at a movie theater. For each one, explain whether yo...

Suppose you work for the Parks Department. Visitors must purchase a ticket to enter the aquarium. You are on a team that is exploring how to get more revenue from the aquarium and is evaluating whethe...

A company is considering building a bridge across a river. The bridge would cost $350,000 to build and nothing to maintain. The following table shows the company's anticipated demand over the lifetime...

Based on this table showing the Distribution of Household Income for 2018, answer the three questions below 2018 Quintile Income Range Share of Total U.S. Income Lowest $0 - $...

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You have $100 to invest in one of two assets. The first asset, called Asset A, is a traditional asset. You receive a 5% return for every dollar you invest. The second asset, called Asset B...

The marginal product of labor is: a) the amount of output that can be produced by a given amount of labor b) the ratio of output to the number of workers used to produce that output c) the change i...

View the LA Times story on Irwindale's spicy atmosphere. Characterize the externality... is it positive or negative? Possible command & control solutions? Market-based solutions? Private So...

. Producer surplus is the difference between Multiple Choice O the maximum prices consumers are willing to pay for a product and the lower equilibrium price. O the quantity supplied and quantity dem...

To ease some of the "Pain at the Pump" ( i.e., increasing gas prices), Senator Richard Blumenthal (D-Conn) has proposed a temporary suspension of the 18.4¢/gallon federal gas tax through the end of 2...

Suppose a minimum wage is imposed in a labor market where the elasticity of demand and supply are .80 and 1.5, respectively. If the minimum wage is set 8% above the market clearing wage, approximate...

Short Answer Question: Over the past decade, Japan has faced a steady drop in the number of working-age people. Here are three reasons why: Japan's birthrate has dropped to a record low; Japan al...

When the National Geographical Society announced the discovery of vast amounts of lithium under the Salton Sea in California, Tesla shares gained 10%. This stock-price reaction is an example of: a....

Ms. Rem just landed at LAX airport, and (assume) that the only feasible mode of transportation to downtown Los Angeles is Uber, and that Uber comes in two flavors: Uber-Economy (normally costing aroun...

While initially established to protect the public from monopolistic abuses by railroads, the Interstate Commerce Commission (ICC) ultimately allowed railroads to raise rates while protecting them from...

Suppose a U.S.-based producer of high-quality baseball bats is contemplating expanding sales to Japan. In the U.S., the firm faces a demand elasticity of η = -1.5 and maximizes profit by setting the...

Suppose these are Alicia's activities over the past week: Alicia bought food online from a local supermarket and had it delivered through Instacart; she applied for unemployment benefits; she cared fo...

What happens to the optimal "piece rate" ( i.e ., the fraction of output shared with the employee) when the employee's risk aversion decreases ( i.e ., the employee becomes less risk averse)? a. The o...

Consider the Production Possibilities Frontier (PPF) above which shows two possible outputs of a hypothetical economy -- cars on the vertical axis (output 2) and laptops along the horizontal axis (o...

. Determine whether the following statements are True or False, and briefly explain your answers: 11. In the standard model of a pollution externality whose output is not proportional to the output ...

. Determine whether the following statements are True or False, and briefly explain your answers: 9. In the standard model of a pollution externality whose output is not proportional to the output o...

. Determine whether the following statements are True or False. and briefly explain your answers: 8. To determine the optimal per-unit Pigouvian tax, it is sufficient to know the marginal cost and m...

. Determine whether the tullowing statements are True or False; and briefly explain your answers: 7. The VCG mechanism only yields efficient levels of public good provision because it assumes that a...

Suppose that bonuses for a division manager are determined by the difference between the division's return on assets (ROA) and a "target" ROA. Which of the following methods of determining "target ROA...

. a. Identify the key stakeholders, who are they and who has more or less agency when 'shrinkflation' is introduced by Bumblebee? Provide details of at least two stakeholders in terms of how they af...

. Determine whether the following statements are True or False, and briefly explain your answers: 1. If a strategy profile ($1, $2) is a Nash equilibrium (NE) but not a subgame perfect equilibrium (...

. 11. A condominium developer wants to sell 4 identical units to a group of bidders. Each bidder wants only a single 1 point unit, and their private valuations for the units are 2, 32, 46, 50, 52, 7...

A survey of Washington residents comes out. It says people who played volleyball as children tend to be healthier adults. Can we conclude that playing volleyball causes you to be healthier later in li...

. 1. Which of the three following auctions, First-Price, Japanese, Second-Price, have dominant strategies in the case of 1 point private values? First-price (only, and not the other two) Japanese (o...

The graph below includes two plant sizes as illustrated by AC 1 and AC 2 . Refer to the graph above to answer this question. Which of the following statements is correct if a firm is operatin...

Refer to the graph above to answer this question. All of the following statements except one are correct . Which is the exception? Select one: A.Increasing returns to scale are experienced whe...

. Question 5 (8 marks) Consider the following workplace situation. A boss can implement an incentive scheme (1) or not (NI). Following observing this a worker can work hard (H) or slack (S). The pay...

A Case Study of Deep Discount Season Passes in the Colorado Ski Industry In September 1998, selected ski resorts in Coloradoiniti-at a deeply discounted season pass program, offering a75% discount ...

Estimate how much it costs to enter the taxicab business (including the cost of buying a car, a taxi license, and required training for the driver). Now estimate (very approximately) how much it costs...

competition between companies can have both good and bad economic effects. Select one of the most intensely competitive sectors listed on the table. List three ways in which intense competition in tha...

2. The minimum wage in the Portland, OR metro area is $14.75/hr., and the unemployment rate is 4.2%. Assume that a low-skilled worker from a rural Oregon county that moves to Portland will earn th...

1. The current fee for renting a picnic shelter at a county park by the river is $25. With this fee, 50 people use the shelter each weekend. Suppose the marginal cost of maintaining and cleaning t...

. Trump imposes tariffs on solar panels and washing machines President Donald Trump has imposed a 30 percent tariff on imports of solar panels and a 20 percent tariff on washing machines. What is an...

. The graph shows the demand for on-campus student housing at the University of Idaho in Moscow, Idaho. The university Rent (dollars per week) has 12,500 rooms for rent. 175- S If a black market dev...

A. Explain the case of the U.S. government charging a fine on the captain of the cruise ship HMS Royal Majesty in the Caribbean Sea during the early 1990's. What ethnic group was targeted? ___________...

As covered in class, carefully and fully explain in full sentences the many historical details of how oil power shifted from the buyers cartel of the Seven Sisters to the sellers cartel of OPEC from 1...

Illustrate and fully explain the meaning and importance of "moral hazard" to risky and secure investments. Explain how this relates to the IMF, the Federal Reserve System, the European Central Bank, &...

Discuss the opportunity costs of your visiting the doctor's office. Calculate (in $$) your opportunity costs of your visiting the doctor's office. https://news.harvard.edu/gazette/story/2015/10/pa...

. Which of the following firmsfentities might dictate the price they pay for a good or service? Note we are looking for the firm that is NOT a price taker. {,1 Firm buying electricity for heating an...

. Marginal Revenue A. A label applied to firms in perfectly competitive industries where prices are determined by forces outside their control. Industries Market Structure associated with agricultur...

[MUST SHOW WORK] 1. It takes Mom 30 minutes to cook dinner. In the same time, she can iron 6 shirts. Dad takes an hour to cook dinner and 30 minutes to iron a single shirt. Select one: A.Mom should co...

[MUST SHOW WORK] Figure 1.3.2 Monthly Production Possibilities for a Country Producing Only Hockey Sticks and Maple Leaves Possibility Hockey Sticks Maple Leaves a b c 3 2 0 ...

In 2018 the United States announced 25% tariffs on avocados imported from Mexico and that the higher price of avocados would be paid entirely by Mexico. Supporters of the tariff claimed that the incre...

You are currently working as a macroeconomist for the Congressional Budget Office in Washington DC making $137,000 per year. Your lifelong ambition, however, has been to open your own cupcake store...

Scenario: Two amusement parks (Park 1 and Park 2) are located on an island 1km apart. A new firm is offering to sell exclusive rights to new technology, reducing the marginal cost by $6 per custome...

Explain how unlimited desires and limited resources combine to create the need for economic analysis Outline the flow of goods and resources to and from economic decision makers Explain the relationsh...

If you could please help me out with this question I would appreciate it a lot. and if you could show all the steps and explanations to each part question 3 Question 4 . 3. Problem 3 - ...

You own a handcrafted jewelry business. Answer the following questions: Business regulations will vary by industry. Discuss one type of a regulation that impacts the production of this company an...

. The table shows an economy's demand for loanable funds and supply of loanable funds schedules when the government's budget is balanced. Real interest rate Loanable funds Loanable funds The quantit...

. 5. [5 pts] [Many states have language in their constitutions that requires the state to provide for an "adequate" level of K-12 education spending. What is the economic rationale for suc...

. 1. [5 pts] Suppose that the U.S. Congress is debating whether to end the Temporary Assistance to Needy Families (TANF) program and instead let local governments replace this program with their own...

Consider the production costs for a firm, one of which is the cost of depreciation. Depreciation costs are Question 8 options: the cost of money borrowed to buy a durable asset. irrelevant to an...

. A company mows yards using workers and equipment. A couple of the firm's isoquants and the isocost line on which production costs are minimized for a couple of levels of 30T production are illustr...

. Aﬁrm produces output using capital and labor. The iirm's marginal product of labor [MPO is 30 and its marginal product of capital (MPK) is 21. Suppose the wage per unit of labor (w) is $6.00 and...

. Learning Activity 3 Use the demand-supply diagram to show how the market equilibrium will change due to the following factors. Prepare 3 separate diagrams. PIs make sure you label your diagrams pr...

Sarah receives utility from days spent traveling on vacation domestically ( D ) and days spent traveling on vacation in a foreign country ( F ), as given by the utility function U(D,F)=10DF. In ad...

ALL THE INFORMATION IS IN HERE THER ARE ONLY TWO TABLES ENGLISH Problem 1. Market Equilibrium The following data reflects what happens in the pizza market of a store per week. Price ($) Quant...

Find b elow some costs of production by a perfectly competitive Company, AB Metals: Quantity Total Fixed Cost Total Variable Cost 0 ...

Sarah receives utility from days spent traveling on vacation domestically ( D ) and days spent traveling on vacation in a foreign country ( F ), as given by the utility function U(D,F)=10DF. In ad...

. Suppose the first input cost $15 per unit and the second $10 per unit. The market price for the output (in the perfectly competitive industry) is $12. 4. Assume that the amount of the second input...

a) Suppose the principal chooses to give 𝐴 an order. What order does 𝑃 choose? What effort level does the agent exert in step 3, given the principal's choice of incentive strength 𝑏 in step...

. Coffee prices in 1960 were 40 cents and $2.25 in 2016 Income in 1960 was $10,000 and $55,000 in 2016. Does this mean society is better or worse in 2016? Under what conditions are consumers better of...

Jackie has a Cobb-Douglas utility function, U= q 1 a q 2 1-a where q1 is the number of tracks of recorded music she buys a year, and q2 is the number of live music events she attends. What is her marg...