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What happens to the income of a factor of production when it becomes more mobile? Other things being equal, would the income to the owners of this factor rise or fall? Why?
Suppose a firm faces the demand curve which gives a constant price elasticity of demand of -2. (recall the Lerner index) 1. If the firm's marginal cost is constant at $2, what is the profic-maximizing price and quantity? 2. If the firm's marginal cos..
Annual demand for number 2 pencils at the campus store is normally distributed with mean 1,000 and standard deviation 250. The store purchases the pencils for 6 cents each and sells them for 20 cents each. The cost of a stockout is the cost of lost ..
OPEC successfully raised the world price of oil in the 1970s and early 1980s, primarily due to:
Abraham Maslow developed a hierarchy of human needs to describe the order of importance of various motivations. According to Maslow, physiological needs take priority over all other needs. Do you agree with Maslow? Why or why not?
Provide a cost-benefit analysis for a company that has to decide whether to hire more staff or hire temporary workers to meet production schedules.
All this is known to both players. Suppose both players behave according to the level-k thinking model discussed in class. Two players simultaneously guess a number.
Robbie Trencheny, an eighteen year old high school senior, loaded half a dozen textbooks and novels into his Nook digital reading equipment as soon as he received it as a birth day present from his parents this month.
Suppose nominal GDP rose from 6250 billion in 1995 to 6630 billion in 1996. If the GDP deflator rose from 125 to 130 during this time, what was the percent growth in real GDP? Given the data in part (a), what was the rate of inflation for goods and s..
q1. a war breaks out which destroys industry facilities including factories machine etc. explain how explain how this
Suppose that you observe that the total utility rises as more of an item is consumed. What can you say for certain about marginal utility? Can you say for sure that it is rising or falling or that it is positive or negative?
Research deflation in Japan and explain what happened to the equilibrium price level in Japan during the early 2000s. How did Japan's equilibrium price level adjust between the middle of 2008 and early 2010?
The women’s movement of the 1960s was part of a long effort by women fighting for equality since the late 1700s and continuing through today. The women’s movement is now more correctly envisioned as a gender movement Describe what a gender movement i..
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