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Potatoes cost Janice $1.10 per pound, and she has $5.00 that she could possibly spend on potatoes or other items. If she feels that the first pound of potatoes is worth $1.50, the second pound is worth $1.14, the third pound is worth $1.05, and all subsequent pounds are worth $0.30, how many pounds of potatoes will she purchase? What if she only had $3.00 to spend?
On the other hand, you might also analyze in detail the effects of higher unemployment among a business cycle downturn.
Suppose that the town of Grayrock had a population of 10,000 in 1998 and a population of 12, 000 in 2003.
Consider two individuals considering how many iced coffee drinks to buy during the coming week.For each person determine how many drinks will be bought during the week.
Conventional telephones are frequently breaking down, and it takes months to get a new line installed. Firms are thinking of adopting new parallel wireless system offered by private firms,
A company analyse it has the following short-run demand. What initial price should the firm charge.
What can you say about the relationship between marginal revenue and marginal cost for output rates below the profit-maximizing (or loss-minimizing) rate? For output rates above the profit- maximizing (or loss-minimizing) rate?
Using a traditional game theory 2x2 matrix, show how this law prevents a prisoner's dilemma and thereby actually makes models better off. In other words, show what the game theory matrix looks like without this law.
Show graphically the amount of the change that is due to the substitution effect and the amount of the change that is due to the income effect.
Debate 20.1 explores a case for which eco-labeling was used to skirt WTO rulings that force countries to treat products as equal even if the production process violates an environmental rule in the importing countries.
Illustrate what are the effects of the current tax policy on US businesses in the short-run and in the long-run.
Find the level of production at which the two layouts are identical from a cost point of view. (b) Find the level of production at which the process layout starts being profitable. (c) Which layout is most cost-effective for a production level equal ..
Suppose the costs also benefits incur at the end of the year, should the city buy the trucks.
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