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Explain the 3 different cases where utility is maximized when you have perfect substitutes. Include a graph for each. (Hint: consider slopes.)
You plan to buy a common stock and hold it for one year. You expect to receive both $1.50 from dividends and $26 from the sale of the stock at the end of the year. If you wanted to earn a 15 percent rate of return, what is the maximum price you would..
Assume the value of equilibrium real GDP is $800 billion dollars. Assume the government increased spending by $20 billion dollars to increase real GDP.
What is the purpose of criminal law? Explain how crimes are classified? Give two examples of white-collar crime. What do you believe the punishment should be for this crime?
The tragedy of the commons is an economics theory by Garrett Hardin, according to which individuals, acting independently and rationally according to each one's self-interest, behave contrary to the whole group's long-term best interests by depleting..
Semiconductor manufacturing involves taking a flat disc of silicon, called a wafer, and depositing many layers of material on top of it. Each layer has a pattern on it that, upon completion, defines the electrical circuits of the finished microproces..
When economists attempt to predict the spending patterns of U.S. households, they will typically view the ____________ as a primary determining factor that influences the individual consumption choices that each will make. Which of the following fall..
Suppose that your employer offered you $4,000 in cash instead of health insurance coverage. Health insurance is excluded from state income taxes and federal income taxes. How different would this calculation look for a worker who earned $500,000 and ..
How does Costco differ from other retailers? What is their business model? Who is the Costco target customer? Why? Why are the stores laid out the way they are? How is this different from other retailers? Why does Costco keep the price of its hot dog..
Describe how each of these activities affects government, households, and businesses. Describe the flow of resources from one entity to another for each activity.
Mexico also which being free to pollute gives industries in Mexico an economic advantage over those in the U.S. also Canada.
A group of 10 people have the following annual incomes: $55,000, $30,000, $15,000, $20,000, $35,000, $80,000, $40,000, $45,000, $30,000, $50,000. Calculate the share of total income received by each quintile of this income distribution. Do the top an..
A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items...
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