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Last year, a manufacturer introduced a new product that was a huge success. So the company made the decision to invest an additional $2.8 million for a plastic injection molding machine (which could be sold for $2.0 million) and $150,000 in plastic injection molds specifically for the product (not valuable to anyone else). Labor and the cost of materials necessary to make each product is about $2 each. Unfortunately, after making the investment a competitor developed a similar product that significantly reduced demand for the manufacturer’s product. Now, the original manufacturer is faced with some decisions and is asking for your advice. Assume that the estimated demand is 120,000 units. To provide this advice you should:
Determine the price where they would break even if they decided to continue producing.
Determine the shutdown price.
What advice would you give this manufacturer?
An effective Federal Reserve operating target is a target that is reliably linked to
Illustrate what will happen to GDP if taxes raise 100million when MPC is .75. Compute both tax also income multipliers.
Suppose that after five years consumer spending doubles to 400. Explain how much do you believe will be the budget share of leisure.
Economic data is a very broad concept. It can include discrete preference relation data-sets as well as extensive time series data. But it is important that theories are tested against data, and the earlier this happens in the development of an econo..
You have a gross income of $386200 in 2014. Your filing status is married filing jointly. You might itemize deductions and you are allowed 5 exemptions. During the year you donated 3.3% of your gross income to charity and you have an interest-only mo..
A few years ago, a construction manager earning $70,000 per year working for a regional home builder decided to open his own home building company. He took $100,000 out of one of his investment accounts that had been earning around 6% a year
Of the following, three mean the same thing and one means something different. Which option does not mean the same thing as the other three in the context of the basic market model we reviewed in class (and that you learned about in principles of mic..
Suppose the required reserve ratio is 8% and that banks hold no excess reserves and the public does not change its currency holdings. If the Fed sells $5 million worth of securities, the amount of deposits in the banking system changes by $______ mil..
Briefly discuss what measuring inequality involves, and provide two examples for doing so. measuring income inequality means dividing up the population into various groups and then comparing the groups.
Gordon also works 5 hours a week for the economics department to maintain that departments web page. Illustrate the economics department pays gordon $20 per hour.
Show the equilibrium effects on consumption and hours worked of and increase in G of this type are ambiguous but that output increases.
With the help of appropriate figure, explain the conditions for Pareto efficiency. Show how the Utility Possibility frontier (UPF) can be derived from the Pareto efficient allocations.
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