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Kelly went to watch her school's basketball game. She found that the height of basketball players is taller than the average height of her school's students. So she concludes that if you play basketball, you will be taller. What mistake she made in her conclusion?
A. Reverse causation
B. Demand causation equals to suppy causation
C. Marginal causation equals to structural causation
D. She made no mistake.
Why is it that unemployment and inflation work in opposite directions--when one is high the other is low and vice versa? This concept is depicted by the Phillips Curve. Why are unemployment and inflation sometimes referred to as twin problems?
Calculate the income elasticity of demand for each of the following goods: Quantity of demand when income is $10,000 Quantity of demand when income is $20,000
. Abstracting out this income effect would leave the quantity of X unchanged. On the other hand, beyond the switch point, only Y is consumed and no changes in Px will have any income or substitution effect.
However, the university administration will charge the college $10,000 per student for the first 100 students enrolled each year for administrative costs and its share of the tuition payments.
Illustrate what is the purpose of macroeconomic models. Explain how a model of ice cream production can be used to explicate 50-fold income differences across countries.
The 16 overhead doors on your loading dock must be replaced now . The deluxe model costs $2,200 for each door and will last for six years. The standard model costs $1,600 for each door and will last for four years. The deluxe model is aluminium so it..
The Coase Theorem is significant because it. shows that it is crucially important how property rights are assigned. demonstrates that there are no transactions costs involved with correcting externalities.
The state has announced its plans to license two firms to serve a market whose demand curve is given by ? = 100 ? The technology is such that each can produce any given level of output at zero cost, but once each firm's output is chosen, it cannot be..
For each of the next 7 years, he received total dividends of $50 per year. For the remaining period, he received total dividends of $100 per year. What rate of return did he make on the investment?
Assume that the high costs of performing cause the promissory to breach a contract and pay perfect expectation damages to the promise. Would the promise have preferred that the promissory perform? Explain the gain in total payoffs from allowing the p..
Suppose a tax of $.10 per unit on a good creates a deadweight loss of $100. If the tax is increased to $0.30 per unit, the deadweight loss from the new tax would be:
Duopolists A and B face the following demand curves: QA = 100 - 2PA + 5PB and QB = 120 - 3PB + 4PA. If both firms have zero marginal cost, what are the profit-maximizing prices and quantities?
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