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What are the differences between implicit and explicit costs?
What percent of the total complaints can be attributed to the most prevalent complaint?
a) Determine the market equilibrium price if the demand and supply function is given as:
A cost minimizing firm's production function is given by q=lk, where MPl=k and mpk=l. the price of labor services is w and the price of capital services is r. suppose you know that when w=$4 and r=$2, the firms total cost is $160. what would the cost..
Explain how effects of rent control are very noticeable to the public in the short run, because the primary effects of rent control occur very quickly.
An industrial firm can purchase a special machine for $22,000. A down payment of $2,500 is required, and the balance can be paid in 5 equal year-end-installments at 14% interest on the unpaid balance. As an alternative the machine can be purchased fo..
What is the market rate of substitution between food and "all other goods"? On the same graph, show how the Food Stamp program alters the average consumer's budget line. Would this consumer benefit from illegally exchanging food stamps for cash? E..
Pick an existing or proposed environmental policy. Use market failure theory to explain or justify the policy. Then use public choice theory to provide a possible alternative explanation for the policy.
Write down the outcome space, i.e., the space of all possible valid outcomes in this lottery. For example, a valid outcome is the draw (1, 4)
Why considering that it snows only once every ten years where Joe lives, Joe's expectations are almost always perfectly accurate." Are Joe's expectations rational.
Many states have usury laws, which place a ceiling on interest rates. Why do most economists dislike these laws - The paper's content is jumbled and is partially in second person and uses unusual wording together as if it was a machine translation..
q1. how concentrated are income gains among the top 110th of one percent?q2. how does cost-consciousness help in better
Suppose that the household’s preferences are represented by the utility function U(C0, C1)= 100C0^ 0.5 C1^0.25. If the real interest rate is 5 percent, what is the value of the MRS of this household when it has maximized its two-period welfare?
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