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A university schedules summer school courses based on enrollment. The cost for faculty compensation, laboratories, student services, and allocated overhead for a computer class is $8500. If students pay $420 to enroll in the course, how large would enrollment have to be for the university to break even? Show the arithmetic with answer.
Suppose we now care about the long run decisions of a firm that has a production function of the form q = 4L^1/2 + K. Assume that, at the beginning when w0 = 1 and r = 0.5, the firm chose to produce q0 = 20 units of output. Then, the wage increased t..
According to the RBA website, the current inflation rate is 1.5%. The RBA normally aims for inflation to be between 2 and 3 per cent. Since inflation is below 2%, and in reference to the media release by Glenn Stevens, why didn’t the RBA reduce the c..
What is the highest possible total revenue that the team can hope to collect
Explain how demand for time travel, as well as marginal income, long-run marginal cost also long-run average cost.
_______Orientation is the human resources function that
In the Jehle and Reny textbook (which I should add I have not read much of beyond a few sections of interest), a theorem stating that there is always a (mixed) Nash equilibrium in finite strategic form games is proven. Similarly, I would also suspect..
Compute the opportunity cost, for producing a single Twinkie and a single cupcake for Jasper and for Jasmine. Jasper can produce.
Bad gums may mean a bad heart. Researchers discovered that 85% of people who have suffered a heart attack had periodontal disease, an inflammation of the gums.
Levi’s has an advertising slogan: “Quality never goes out of style.” Consumers can buy other kinds of jeans, including off-brands. The manufacturers of off-brand, or generic, jeans do not advertise. Create a graph showing the price (labeled as P1) th..
The dancing machine industry is a duopoly. The two firms, Chuckie B corp and Gene Gene Dancing Machines, compete through Cournot quantity-setting competition. The demand curve for the industry is P = 120-Q, where Q is the total quantity produced by C..
Graph a hypothetical PPF for a wealthy and developing country. Each country on your graph should have the same degree of concavity, with the two outputs of goods and services labeled "Other Goods and Services" on the X-axis and "Clean Air and Water" ..
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don’t police departments increase their applicant pool by drop..
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