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Suppose you had a choice between living in the united states in 1900 with an income of $1,045,000 per year or in the united states in 2014 with an income of $48,000 per year. Assume the incomes for both years are measured in 2014 dollars.
1. In which year would you have the highest real income?2. In which year would you have the better standard of living? 1900 or 2014
Suppose that the demand and supply schedules for rental apartments in a city are as given in the table below.
assume that the combined consumer goods capital goods values for points a b and c are 20 billion 40 billion and 38
1. Analyze the microeconomic environment of corporate operations. 2. Assess the impact of regulatory considerations on economic decisions. 3. Assess the impact of ethical considerations on economic decisions.
Joan is deciding where to spend her spring break. If she goes to Cancun, Mexico, the trip will give her 9,000 utils of satisfaction and will cost her $300. If, instead, she travels to Florida, the trip will give her 5,000 utils of pleasure and w..
questions related to the articles from The Economist:- Are price controls good or bad? - What do price controls have to do with basketball?- What is the consumer surplus of the internet?
Think the market for new, single family house in Miami. The general demand function for new housing in Miami is anticipated to be Qd =15 - 2P + 0.05M + 0.10R,
If the indurtry can pay only one of the six salary levels shown, which should it choose? How many workers will it employ?
A has $1.5 million in sales, a Lerner index of 0.57 and a marginal cost of $50. The firm competes against 800 other firms in its relevant market a. What price does this firm charge its customers? b. What is the firm's markup factor? Wh..
Mamma Mia's Pizza must replace its current pizza-baking oven. The two best alternatives are Crispy Cruster and Easy Baker. Assume an income tax rate of 50% and MARR after-taxes of 10% per year. Which pizza-baking oven would you select and why
The Federal Reserve is concerned about a rapid increase in prices. Their decision is to stabilize prices through a decrease in money supply. Graphically illustrate and explain what effect a decrease in the money supply will have on the economy using..
After two quarters of increasing levels of production, the CEO of Canadian Fabrication & Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired.
Elucidate the six costs associated with inflation and evaluate which if any of the costs are important for the average consumer.
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