Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Econ 111: Principles of Economics - Accelerated Treatment - Quiz 1
1) For each of the following draw a separate demand or supply graph that illustrates the likely effect on the market for air-travel for United Airlines:
a) After September 11, people have become more scared of flying.
b) Airplane fuel prices increase.
c) American and Delta Airlines lower the price of their airplane tickets.
d) The US economy is going through a recession, and people are earning lower incomes.
e) A technological innovation makes building and maintaining airplanes easier and less expensive.
2) Below you will find the milk supply in two counties (Dane and Green) in Wisconsin. Can you sketch their aggregate (joint) supply curve on a separate graph?
most european countries have nationalized their universities and colleges. consider that some countries have also used
Now suppose that x 2 is also free to vary. Derive the demands for the inputs and the long-run cost function of the firm - Draw the two cost functions on the graph. Do they cross? Which one lies higher?
The demand curve for a product is given by P = 400 - 1Q/3. What is the own price elasticity of demand when price is $100? Is demand elastic or inelastic at this price? What would happen to the firm’s revenue if it decided to charge a price above $100..
Suppose the firm dropped the price to $2.50. Would this be beneficial? Explain. Illustrate your answer with the use of a demand schedule
analyze the short run and long cost functions for the low-calorie microwaveable food company given the cost functions
Prices of tickets for seats on commercial passenger planes are typically in the hundreds of dollars, whereas trips can be made by automobile at much lower cost. Accident rates per person per trip in the airline industry are considerably lower than au..
Assume that a firm purchases R in a purely competitive resource market; that is, the firm can purchase any amount of resource R it chooses without affecting the price of R.
What factors are argued to influence marginal revenue (MR) for each franchise? Explain the expected relationships between each factor (variable) and the MR.
A flood control project with a life of 15 years will require an investment of $250,000 and annual maintenance costs of $20,000. The project will provide no benefits for the first two years however will save $60,000 per year in flood damage starting i..
Discuss one or two factors Income-price-price related goods- consumer preference -expectaion future) that affect in demand .The research should be with time period between 2000 and 2012 and place (in usa).
Why should a government be concerned with the pricing of products that a company transfers to an affiliate in another country? Please explain in terms of taxation and exchange rates.
Describe the opportunity and accounting costs of "Going Green." Use a specific example to illustrate your point. For example, purchasing a Chevy Volt.
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd