Consumption activities will most impose an external cost

Assignment Help Business Economics
Reference no: EM13832697

1. Which of these consumption activities will most likely impose an external cost?

a. a young mother exercises to an aerobics video

b. a student in a dorm plays measures the sound of her neighbours CDs in decibels late at night.

c. an executive hits a bystander with his golf ball by mistake while playing a vigorous game of golf

d. a construction worker eats a sandwich during his lunch break.

2. Suppose that a decrease in the price of x results in less of good y sold. This means that x and y are

a. substitutes

b. inferior goods

c. complements

d. normal goods

3. Theories are developed to

a. provide and interesting but not useful framework of analysis

b. help economists understand how the world works

c. provoke stimulating debate in scientific journals

d. demonstrate that they developer of the theory is capable of logical thinking.

4. Which of the following cause and effect events is in order for a seller

a. input price rises, profit rises, the supply curve shifts left

b. input price falls, profit increases, the supply curve shifts right

c. input price rises, profit falls, the suppply curve shifts right

d. techonlogy improves, profit falls, the supply curve shifts left

5. Last year, joan bought 50 pounds of hamburger when the household income was $40,000. this year, the household income was only $30,000 and joan bought 60 pounds of hamburger. all else constant joan's income elasticity of demand for hamburger is

a. negative so joan considers hamburger to be an inferior good

b. negative so joan considers hamburger to be a normal good

c. positive so joan considers hamburger to be a normal good and a necessity

d. positive so joan considers hamburger to be an inferior good.

6. for a competitive market, which of the following is true?

a. a seller who charges more than the going price can increase her profit

b. a buyer can influence the price of the product, but only when purchasing from several sellers

c. if a seller charges more than the going price, buyers will go elsewhere

d. a seller often charges less than the going price to increase sales and profit

7. Which of the following demonstartes the law of demand

a. jon buys more pretzels at $1.50 each since he got a $1 raise at work.

b. kendra buys fewer snickers at $0.60 each since the price of milky ways fell to $0.50 each.

c. melissa buys fewer muffins at $0.75 each than at $1 each.

d. dave buys more donuts at $0.25 each than at $0.50 each.

8. which of the following is the best example of an externality? the impact of

a. pollution from a factory on the health of people in the vicinity of the factory

b. the personal income tax ona peron's ability to purachse goods and services

c. bad weather on the income of farmers

 

d. increases in health care costs on the health of individuals in society.

Reference no: EM13832697

Questions Cloud

How the sox act may affect ethical decision : Write a 350- to 700-word review of the article. Your review should discuss how the SOX Act may affect ethical decision making in today's business environment, and the criminal penalties for which the act provides
Is elasticity elastic-inelastic or neither : Analysis of Pricing: You manage MBA Deli which sells meals at a price of $6 each. The average number of meals sold per month is 7,000. MBA Deli would like to increase its sales and profits. What is the Price Elasticity of Demand? What does this mean ..
What term do economists use to describe this second outcome : In contrast, suppose that the CPI was 140 last year and is 132 this year. What is this year’s rate of inflation? What term do economists use to describe this second outcome?
Write a news summaries about some law : Use your own words write a news summaries about some law. Please do not plagiarism,. No references.(200--350 words) You need choose some news about law this week
Consumption activities will most impose an external cost : Which of these consumption activities will most likely impose an external cost? Which of the following cause and effect events is in order for a seller. Which of the following demonstartes the law of demand. which of the following is the best example..
Draw an er diagram : a. Draw an ER diagram. Make sure each entity type has at least one key attribute. Document any assumptions you make. Avoid diagrams with a single entity. b. If you think the description is incomplete, list other data the database should store. c. Adj..
Write a summary of the article tourism investment monitor : In your own words, summarize the article, "Tourism Investment Monitor," by Tourism Research Australia, May 2015. In particular, what are the main messages of the article?
Explain how you can use a straightedge : Explain how you can use a straightedge
Advanced systems analysis and design : You have just completed ten (10) weeks of an introduction to networking course. Imagine your organization has asked you to create a one-day training course that highlights the important elements of what you have just learned within the past ten (10) ..

Reviews

Write a Review

 

Business Economics Questions & Answers

  Equilibrium price and quantity in the market for lemonade

For each of the situations below analyze what happens to the supply and demand curves, and then decide the impact on the equilibrium price and quantity in the market for lemonade. Suppose this market is initially in equilibrium and then the price of ..

  Consumers will be in equilibrium with respect to the consump

Empirical estimates of the price elasticity of demand suggest that the demand for household consumption of alcoholic beverages is

  Small mistakes are the stepping stones to large failures

Small mistakes are the stepping stones to large failures. How might this saying apply to the simple model of the firm and marginal analysis? Do you agree? In your responses

  Three variables are appropriate explanatory

Briefly explain why the three variables are appropriate explanatory variables to predict the consumption of services or why they are related to consumption.

  Long-run effect of this proposal

After allowing for sleep and personal care, she has 70 free hours each week and must split these hours between work to earn money.

  Evolutionary perspective represents path to future of change

Looking out over the next decade, estimate the likely standards of how MNE will create value. In your own opinion, which form of the MNE of the future is best designed to succeed? Why? Presuming IBM’s evolutionary perspective best represents the path..

  For five countries of your choice collect the gdp per

for five countries of your choice collect the gdp per capita from unstats.un.org any year and countries you like where

  Compute the price elasticity of demand for good x

Compute the price elasticity of demand for good X between the two prices on the demand curve. Describe the price elasticity of demand for good X.

  Illustrate what happens to aggregate output and the price

Illustrate what happens to aggregate output and the price level in each case.

  Q1 if the equilibrium level of aggregate expenditure is 80

q1. if the equilibrium level of aggregate expenditure is 80 billion as well as there is a reduction in consumption of 2

  What is the minimum salvage value after seven years

A remotely situated fuel cell has an installed cost of $2,200 and will reduce existing surveillance expenses by $360 per year for seven years. The border security agency's MATT is 12% per year. What is the minimum salvage (market) value after seven y..

  Mixed nash equilibrium of the game

In 2003, when music downloading first took off, Universal Music slashed the prices of CDs from an average of $21 to an average of $15.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd