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1) Assume that the price elasticity of demand is −.5 for a certain firm's product. If the firm decreases price, the firm's managers can expect total revenue to:
a) decrease.
b) increase.
c) remain constant.
d) increase or remain constant, depending upon the size of the price increase.
2) Which of the following statements is correct:
a) Maximizing total benefits is never equivalent to maximizing net benefits.
b) Maximizing total benefits is equivalent to maximizing net benefits if and only if there are no costs associated with achieving more benefits.
c) Profits cannot be maximized when marginal costs equal marginal benefits.
d) Net marginal benefits can never be equal to marginal benefits.
A $200,000 bond having a bond rate of 8% payable annually is purchased for $190,500 and kept for 6 years, at which time it is sold. How much should it sell for in order to yield a 7% effective annual return on the investment?
Discuss how changes in household disposable income, housing and stock wealth, and debt-generated movements along and shifts in the U.S. saving function. Explain these effects, assuming other things were equal.
Calculate the currency-to-deposit ratio (cr), and the money multiplier (m) given the above values. Calculate total required reserves (RR), total actual reserves (AR) and the monetary base (MB). Now assume the FED lowers the required reserve ratio to ..
A monopolist has an inverse demand curve given by p(y)=12-y and marginal cost is 2y. What will be its profit-maximizing level of output? Suppose the government decides to put a tax on this monopolist so that for each unit it sells it has to pay the g..
What is the rate of inflation of the U.S. dollar is 5% and the rate of inflation of the Japanese yen is 2%. What is the percent change in the real $/Y exchange rate.
Explain the output effect and the price effect for an oligopoly. How does each influence the oligopolist's production decision?
q.a monopolist faces the inverse demand for its output p 30 - q the monopolist also has a constant marginal and
q1. if the government reports that gdp increased at an annual rate of 6.0 percent for the fourth quarter of 2010 by how
Discuss how you can use the laws of demand and supply to explain the following scenarios: Scenario 1: After world gasoline prices jumped in the late 2000s, global bicycle sales rose to more than 1 million per month.
what is the wage, quantity hired, wage plus employer taxes and wage minus employee taxes if employees pay a $6 tax?
If a nation has an open economy, it means that the nation: In Adam Smith's trade model, labor is the only factor of production and the labor theory of value is the basis for cost. According to Smith's trade model in a two-nation, two-product world, a..
If you are near graduation and plan to start your new job in 3 weeks, how does the Bureau of labor statistics classify you? Unemployed, employed or notin labor force.
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