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Use a supply-and-demand diagram to explain the statement "Talk is cheap because supply exceeds demand." At what price is this comparison being made?
find the covariance between hourly wage X and education Y (measured in years of schooling) using the following summary statistics for a sample of 10 workers in a plant. xbar = 11.775 ybar=13.8 sum of (x-xbar)(y-ybar) = 103.55 sum of xy =1728.5
A hypothesis will test that two population means are equal. A sample of 10 with a standard deviation of 3 is selected from the first population and a sample of 15 with a standard deviation of 8 from the second population.
The demand and supply for a particular commodity are given by the following two equations: Demand: P = 75 - 2Qd and Supply: P = -15 + 4Qs where Qd and Qs are quantity demanded and quantity supplied, respectively, and P is price.
Cinema Theater has estimated the following demand functions for its movies: Daytime demand, QD = 400 - 50 PD Nighttime demand, QN = 200 - 20 PNThe marginal cost of serving another customer is $5 and its fixed costs are $100.
The airline s marginal cost is $100. The slope of the business demand curve is $2 per traveler, and the slope of the tourist demand curve is $1 per traveler. Does the singleprice policy maximize the airline s profit? If not, how should it change i..
Suppose the department of Justice, Antitrust division takes Muncie Christmas tree cartel to court, arguing that the cartel is creating deadweight loss. It is beyond a doubt true that the cartel is acting monopolistically.
Find the man-optimal stable matching and Önd the woman-optimal stable matching. Are these matchings identical. 2. Consider a two-sided matching model with two men and two women. Their preferences are expressed by the table: P (m1) = w1 w2 P (w1) = m2
What happens in the short run to equilibrium output? To unemployment? Over time, will inflation tend to rise or to fall? Explain how the adjustment of inflation works to return the output gap to zero. What happens to the real interest rate?
Calculate the marginal product of hiring additional barbers, and fill in the last column of the table. Over what range is the marginal product of labor increasing? constant? diminishing? Graph the production function. By looking at the graph, you ..
Suppose the weekly demand for a product is given by p + 2q = 840 and the weekly supply before taxation is given by p = 0.02q2 + 0.55q + 7.4. Find the tax per item that produces maximum tax revenue
how much of the disagreement is based on normative economics compared to positive economics?
A clever sports economics student asked the Athletic Director at his or her university to dig back into the records for data on attendance and prices at the college's baseball games
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