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Suppose demand and supply are given by Q^d =50 -P and Q^s=1/2P-10.
a.) What are the equilibrium quantity and price in this market?b.) Determine the quantity demanded, the quantity supplied, and the magnitude of the surplus if a price floor of $42 is imposed in this market.c.) Determine the quantity demanded,the quantity supplied, and the magnitude of the shortage if a pride ceiling of $30 is imposed in this market. Also, determine the full economic price paid by consumers.
A. The firm has an employee who threatens to tell all other firms in the industry about how to implement this new technique. Will it be possible to bribe the employee not to do this? Explain why or why not. B. Why should the employee probably choos..
Compare the automotive manufacturing industry of today to the automotive manufacturing industry of the 1950s. Applying the enconomics of price and output, what is the difference between the industry of today and that of the 1950s.
In order to pay for those expenditures, Congress also approved a $100 billion increase in individual income taxes. Will these actions by Congress expand or contract the economy or are they just useless actions?
Draw a current budget constraint for an assumed single mother (net of child care costs) who loves leisure. Draw the new constraint. Discuss the likely effects on labor force participation and hours of work.
If Jose's utility function is U(q1,q2) = q1 + A*(q1)^a)(q2^b)+q2, what is his marginal utility from q2? What is his marginal rate of substitution between these two goods?
Illustrtae what is the difference among cost-push and demand-pull inflation.
Elucidate price every ride must the public transportation authority charge to eliminate the deficit if it cannot reduce costs
Calculate the duration of a two-year, $1,000 bond that pays an annual coupon of 10 percent and trades at a yield of 14 percent. What is the expected change in the price of the bond if interest rates decline by 0.50 percent
Suppose DJIA records the changes in prices of 4 stocks. Suppose initially the prices of these stocks are $40. $20, $60. and $80. What is the DJIA.
Use the information on United State real GDP below to compute real GDP per person for each year. Then use these numbers to compute the percentage (%) raise in real GDP per person from 1987 to 2005.
A perfectly competitive industry is characterized by the cost function for individual firms: TC(q) = 0.01q2 + 100
An economy consists of two regions, the North and the South. The labor market is initially in an economy-wide equilibrium, with 1,000,000 people employed in the North at $25 per hour and 2,000,000 in the South at a wage of $15 per hour. Assuming t..
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