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What is globalization (please define it both as a process and outcome)? What factors can you identify in explaining why globalization occurred? How do you assess its impact upon both rich countries and poor ones, in particular, the issue of inequality? How do you explain the emergence of an anti-globalization movement? What made it so controversial?
You own a fresh vegetable stand. Last week you decided to raise your carrot prices from 79 cents per bunch to 99 cents per bunch. Subsequently, you noticed that several of your regular customers were buying 2 bunches instead of their usual one. In fa..
Ketchup is a complement (as well as a condiment) for hot dogs. If the price of ketchup decreases, using a supply and demand diagrams for hot dogs, show what happens to equilibrium price, equilibrium quantity for hot dogs, and total revenue for produc..
Elucidate whether each of the following events shifts the short-run aggregate-supply curve, teh aggregate-demand curve, both, or neither.
Use the Fred database at the federal reserve bank of st. louis to study recent trends in the money supply. Select the data series for demand deposits at commercial banks, either seasonally adjusted or not. View the chart and identify what patterns or..
Suppose a dairy farmer in Murfreesboro is concerned with developing a minimum cost per day feed-mix from two sources, alfalfa (X) and corn (Y), which meets (or exceeds) certain nutritional requirements. Write about the objective function and constrai..
A monopolistic firm faces the following demand curve. What would be its equilibrium profit? What price should it charge if it were to maximize its revenue? What would be its profit if it maximized its revenue? If this monopoly were to behave like a ..
What are the economic concept? What is market? What is a competitive market? What is supply and demand?
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a popular mall. As shop owner and operator, you have observed that your daily sales tend to follow a pattern that can be stated as: Compute the elasticity co..
A research engineer invests $5,000 at the end of every year for a 32-year career. If this teacher wants to have $1,524,240 in savings at retirement, what interest rate must the investment earn? Consider the following two mutually exclusive alternati..
What is each fisherman's profit-maximizing output now. Find the market price and the total output.
find marginal cost of last unit produced. What is firms percentage mark-up of price over marginal cost.
You have been contracted by an economic consulting firm to determine the economic structure and possible future actions of OPEC, the Organization of Petroleum Exporting Countries.
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