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How can we measure the opportunity cost of producing a good? Using a bowed outward production possibilities curve between ice cream and hammers, identify graphically the opportunity cost of obtaining an additional hammer.
Discuss industry structure, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
If this firm was under perfect competition, what would be the efficient level of output in the long run?
Define world allocative efficiency as it relates to regionalism and multilateralism. Discuss the static effects and dynamic effects of customs unions.
Ten firms compete in a market to sell product X. The total sales of all firms selling the product are $2 million. Ranking the firms' sales from highest to lowest, we find the top four firms' sales to be $260,000, $220,000, $150,000, and $130,000, ..
your mathematics and economics professors have decide to give tests 2 day from For each addition 3 hours study time for one of the subjects, your grade will increase one letter for that subject.
1. bertrand duopolists firm 1 and firm 2 face inverse market demand p 50 - q. both have marginal cost mc 20.
When an excise tax is imposed on a commodity in order to raise revenue for the government or in in order to raise the consumption of the good, then why are these goals in conflict with each other?
When it is observed that as the price of Mercedes-Benz cars rises, the quantity demanded also rises, what might one likely explanation be? What accounts for specialization?
Given the economic situation today, outline the discretionary fiscal policy you would promote if you were president. In terms of the AD-AS model.
An orange goes through four major steps on its way from grove to grocery store at the Sunkist Citrus Processing Plant in the southern San Joaquin Valley: washing, waxing, grading (inspection), and packaging. The facility's production technology can b..
Currently, it is difficult to sue the federal goverment unless it agrees to be sued. If the law were changed so that lawsuits (such as by victims of the collapse of the I-35W bridge) were easier, how would this change the incentives.
where f is the dimensionless function (which must have dimensionless arguments in order to be dimensionally consistent! - for any smooth function this can be proved via a Taylor series expansion)
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