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Using a single industry, contrast and compare perfect competition and monopoly. For instance, using the coffee shop, explain how its behavior might differ if it had many rivals who would and could copy whatever it does or it had no rivals.
Suppose that everyone is risk neutral, potential car buyers value lemons at $1,000 and good used cars at $3,000, the reservation price of lemon owners is $750, and the reservation price of owners of high quality used cars $1,750.
What are the components of the M1 money supply? What is the largest component? Which of the components of M1 is legal tender? Why is the face value of a coin greater than its intrinsic value? What near-monies are included in the M 2 money supply?
Explain what is meant by the value style and growth style in equity investments. What sort of return and volatility have been experienced over long periods of time for each of these styles?
Assume you are building a system (Aircraft, etc.) for a customer but using the best technology available. You cannot produce the reliability required. The customer requires reliability of .99 after the system (aircraft, etc.) has operated for 1000..
The marginal revenue curve of a monopoly crosses its marginal cost curve at $30 per unit and an output of 2 million units. The price that consumers are willing to pay for this output is $40 per unit. If it produces this output.
In a small town it has been discovered that the relationship between the number of radios demanded varies linearly with its price. When the price per radio was $15, 1000 radios were demanded; when the price was $30, 700 radios were demanded.
Assume the point elasticity method. 1. Anna owns the Sweet Alps Chocolate store. She charges $10 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be
Explain the meaning of dualism and dual societies. Do you think that the concept of dualism adequately portrays the development picture in most developing countries? Explain your answer.
Consider all facts given and rewrite the auditor's report in acceptable and complete format incorporating any necessary departures form the standard unqualified report.
Formulate the dynamic optimization problem of a representative household, and show that any interior solution to this problem violates the transversality condition. Interpret this result.
How can the problems associated with using static equations in a dynamic world best be dealt with? Elaborate.
People like to earn money, but they don't like to work outdoors in the summer, due to the high heat. Suppose that the utility function is \(U(w,x)=w^{1/2}-0.5h\) , where w is the wage and h is a measure of the number of very hot days.
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