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Suppose the marginal utility of good a is 4 times that of good b but the price of good a is 2 times that of good b, is this point consumer equilibrium?.
What are the four stages of the product life cycle? How does product life cycle stage impact marketing strategy? The effectiveness of different marketing strategies varies according to product life cycle. The stages are listed below, along ..
Assume government forced a minimum wage above what otherwise would be equilibrium wage rate for this segment of the labor market.
Assuming you could not get the Pink ticket for free what is your (net) opportunity cost of your seeing Lady Gaga?
Which of the following is NOT an explanation for the revival in the growth of productivity starting in the mid 1990s? A)Cell phones and wireless Internet access increase worker flexibility. B)Internet use has increased the efficiency of how firms b..
There are 100 dog kennels in Atlanta. An economist studying the pricing behavior of dog kennels tells you that she is limiting her analysis to a time period that does not allow for any new dog kennels to enter the industry or for any established d..
Suppose the government imposes the following kind of sales tax: there is no tax for selling the first 35 units, but for selling every unit beyond the thirty-fifth unit, the seller has to pay the government an additional $12. What is the new optimal p..
Vera is an impoverished graduate student who has only $100 a month to spend on fodd. She has read in a government publication that she can assure an adequate diet by eating only peanut butter and carrots in the fixed ratio
The Swiss pharmaceutical global corporation Hoffman-La Roche has made a major breakthrough in the relief of a serious disabling disease that affects 3 percent of the world's population. Its new product Tigason is the first product that effectively..
What are the costs of making those "systematic mistakes"? Is it possible to act "irrationally," or is rationality defined by the individual's approach to decision making?
I am learning about scarcity in my SS 6th grade and I am unsure about this question. which sentence best tells the effect of scarcity on economics.
Suppose that there are three firms, who produce homogeneous products, and whom have the same marginal cost which is constant over output. These firms play an infinitely repeated Bertrand pricing game. Each period they simultaneously set prices.
Using concepts we have discussed in class, discuss the effect of having a minimum wage. The minimum wage raises workers’ wage above the equilibrium wage.
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