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Identify a market which you feel is perfectly competitive. The firms in this structure are considered price takers, are the firms in the market you chose all selling their product at the same price? Why or why not?
in a command or planned economy the government not the market regulates the factors of production and economic
mikes cafe is a profit-maximizing competitive coffee shio. mike charges 2 per cup. his total cost each day is 150 of
consider the following utility function uxy min 3x xy 2y. sketch the indifference curves and show where the corners
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -2. The firm's marginal cost is constant at $10 per unit. a. Express the firm's marginal revenue as a function of its price. b. Determi..
What is depreciation of a currency? Appreciation of a currency? What interest rate is the Fed trying to control (target) with open market transactions? How are long term interest rates determined? What is the long run effect of monetary policy? Why d..
Businesses usually decide in using automation and labor in production. An automotive environment may have high fixed costs and low variable costs,
suppose five rational roommates are deciding on a place to have coffee together. there are four alternatives peets
Suppose you bought a ticket to a football game for $30 and that you place a $35 value on seeing the game. If you lose the ticket, then what is the maximum price you should pay for another ticket?
Information about the company is readily available.
to be specific suppose we have a two-period model. an individual earns labor income y0 100k at time zero and earns no
Some states are planning that ethanol be mixed with gasoline to comply with anti pollution laws. Ethanol can be made from corn. Determine what effect are these rules having on the equilibrium price and quantity of corn?
Governments of country A and country B spend the same amounteach year. Spending on functions relating to dealing with marketexternalities and public goods accounts for 25 percent ofgovernment expenditures in country A
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