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Assume a good where its equilibrium price is 40 and its equilibrium quantity is 3.0 units. Compute the supply surplus when price is 60. Take into consideration that the elasticity of supply is 1 and the elasticity of demand (-1)
Assume that the economy can experience high growth, normal growth, slow down or severe recession. Under these conditions you expect the following stock market returns for the coming year:
what is the diamonds water paradox and how is it
There are currently no other airlines providing direct service to Boston Logan airport. Given the number of local students who live in the northeast, United has estimated the inverse-demand for this flight to be P = 500 Q, where Q is the number of se..
Which of the following was not a cause of the U.S. budget deficits in the 1980s? Which of the following does not qualify as an automatic stabilizer? Income taxes affect aggregate demand. Which of the following constitutes a direct tax?
Not all discrimination is prohibited by law. For example, employers routinely discriminate between potential employees based upon education or experience. Other types of discrimination are more subtle, but still legal. For example, some employers dis..
write your own brief definition of the term "ethnocentrism." Then, discuss at least one example or phenomenon in which ethnocentrism plays a part. Finally, describe any situations in which you have experienced ethnocentrism, either negatively or posi..
Decide whether each of following statements is true or false. Then explain why your answer is correct, based on Slutsky decomposition into income and substitution effect.
Illustrate if there were only one supplier of diamonds, elucidate what would be the price and quantity
Assume a monopolist sells its product or service for the same price to all buyers. Also assume that the monopolist lowers its price to increase unit sales (i.e. output). We know that if the price effect associated with an increase in output exceeds t..
Explain the three main topics that macroeconomics is concerned with. Explain the major critics of how unemployment is measured. Explain how consumption and savings are correlated. Please explain the causality of one variable on the other (use a graph..
Suppose that two consumers care only about the goods that they own. (The goods are private for them.) Starting from a competitive equilibrium allocation, is it possible for both consumers to be made simultaneously better off by trading with each othe..
Use the principles of supply and demand to address a predetermined goal (set by the student) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is.
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