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Consider the following hypothetical demand schedule for "Tammy Fay" brand Mascara:
Qd = 600 - 16? × P
Where Qd represents quantity demanded in pounds and P is the price in dollars.
(a) Based on this demand schedule, set up a graph (using excel) of the demand curve and the corresponding total revenue curve (with quantity on the horizontal axis).
(b) Calculate the price elasticity (using the point elasticity formula) of demand at quantities demanded of 500, 400, 300, 200 and 100.
Suppose you see a series of loan payments described in factor notation as follows; P = $500(P/A, 2.02%, 24) Further suppose you know that the interest rate i=2.22% is the interest rate per quarter. What then, is the number of years over which this pa..
Studies indicate that the price elasticity of demand for beer is about 0.9. A government policy aimed at reducing beer consumption changed the price of a case of beer from $10 to $20. According to the midpoint method, the government policy should hav..
Describe why it is often asserted that that exporters suffer when their home currencies appreciate in real terms against foreign currencies and prosper when their home currencies depreciate in real terms.
Consider the general equilibrium model with two sectors of production using different CRTS technologies as reviewed in class. Instead of assuming that both sectors are perfectly com- petitive, assume that sector X is a monopoly while sector Y is a pe..
Some seed cleaning equipment was purchased at the end of 2008 for $8,571 and is depreciated by the double declining balance (DDB) method (not MACRS) for an expected life of 8 years. What is the book value of the equipment at the end of year 2,011? Or..
How can an ordinary buyer compare mortgage deals with different terms? Can (should?) they rely on a real estate sales associate or mortgage officer? Why?
Your firm, which operates a nationwide system of cancer clinics, has annual profits of $800 million and cash reserves of $500 million. Your clinics have a replacement value of $200 million, and fire insurance for them would cost $5 million per year. ..
Imagine that you are an international reporters. You have been tasked with describing and critiquing the current state of the U.S. economy.
Show what happens to one or both curves for the given scenarios. If the scenario does not change either curve, leave them in their original positions.
When you buy 100 shares of IBM it is an investment according to economists. If consumers have few durable goods, this will lower the C line, all other things equal. A corporation is a legal person separate from the owners. Investment is more stable t..
You need both equations and clearly labeled graphs (separate graphs for each question) to answer the following questions. Assume that b=1/2 and that initially the real interest rate is equal to the marginal product of capital at 3%. How much will thi..
Discuss the freedom of speech section of the First Amendment to the US constitution and its protection and permitted regulation, of the commercial and political speech engaged in by busniness, including justification for such regulations
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