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1.) What is the origin of both consumer surplus and producer surplus? How do properly functioning markets maximize consumer and producer surplus while optimally allocating resources?
2.) How do positive and negative externalities lead to under- and over-allocations of resources?
It is reasonable to assume that the barriers to entry in market will remain in place despite technological change and competition? Consider newspaper. In most countries there are a fee widely- read newspaper, making this particular section an olipolo..
If the government wants to move the economy back to the full-employment level of output and the MPC is 0.9, then it should reduce taxes by?
A firm sells its output in two markets, domestic D and foreign F. The domestic demand is QD = 100 - 5 P, while the foreign demand for the firm's product satisfies P = 20 - 2 QF. Given this information, the total demand Q (where Q = QD + QF ) that thi..
Suppose the economy is on a balanced growth path in the Romer model, and then, in the year 2030, research productivity rises permanently to ¯ z ′ > ¯ z . Why might the parameter ¯ z increase in an economy?
Assume that these college payments will be made at the beginning of each school year. The future general inflation rate is estimated to be 4% per year, and the annual inflation-free interest rate is 5%. What is the equal amount, in actual dollars, Je..
Elasticity-time! Calculate the elasticity implied by the information given (own-price, cross-price, or income), interpret the elasticity (“For a one percentage point change in…”), and tell me what the elasticity implies about the good or goods.
Pick one market in which the price system does not produce an equitable price and quantity of output. Write a paper of 250 words minimum discussion with at least (2) sources cited in the MLA format. What are the alternatives to government interventio..
What logistic issues can be encountered? What are the procedures in other GCC countries, particularly deal with the same business/product. What are the procedures, rules, regulations in setting up business in Singapore?
The island of Yoko has 300 residents who can work in only one of two economic activities – fishing or tourism. Last year 30 residents worked as fishermen in Yoko and caught 40 tons of fish in total. Draw a production possibility frontier for Yoko in..
determine total project completion time and critical path for installing electrical wiring and equipment in residential houses. In addition, determine ES, EF, LS, LF and slack for each activity.
Manager of a computer company plans to spend on new hardware $3.5 million in the first year with amounts decreasing by $0.2 million each year thereafter. Income of the company is expected to be $8.0 million the first year increasing by $0.3 million e..
If a consumer is given a $10 gift certificate good only for items in store X, and all items in store X are normal goods, then the consumer desires to consume: Select one: a. more goods in store X. b. fewer goods in store X. c. the same amount of good..
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