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For this discussion, think about where you work or a business you have a significant amount of knowledge about. What is a common product that the business sells? What are the main costs the business has to incur in order to be able to sell that product? Which of these costs are fixed and which are variable? How much additional costs would be incurred if it were to sell one additional unit of that product (marginal cost)?
Write a discussion thread about this business, the product it commonly sells, and your answers to the above questions.
Suppose in the United States consumption is described by the formula: C= $50 billion+0.9 Yd, where Yd is disposable income. If taxes are $100 billion and household income is $1,000 billion, what is the amount of household savings in the economy?
Suppose you have three producers of oil A, B, and C, with extractions costs of $8, $10, and $12 per barrel of oil. Assume there are no user costs. Assume that each well can produce 100 barrels of oil per day. How much oil will be produced if the mark..
q.given the demand function of a monopolistq 100 - pand the cost function faces himherc 100 80 qa. find out
which example of productive resources is matched correctly? a land and surgeon b capital and oil rig c labor and
Discuss the nature and function of a price index, and describe the difference between nominal and real GDP, Assume that nominal GDP for 2012 was $700B with a price index of 110 (using 2004 as the base year). What is the real GDP for 2012? Why do econ..
You and your spouse just adopted twin girls, little Heather and Beth. You want to make sure theyare taken care of for the next 22 years. (A)Based on the following information, how much lifeinsurance needs to be purchased for the husband, if any? (B) ..
What are the phases of business cycle? What happens during prosperity? What happens during contraction phase? What is the difference between recession and depression?
Identify which of the following statements is always true for a natural monopoly as the number of units produced (output) increases.
At what price and quantity would Gringle maximize revenue? What is its maximum revenue? At what price and quantity would elasticity of demand equal -2.4. What is the P/MR at this point? Assume Gringle wants to mark up its product by 40% above margina..
Why does the government intervene in the economy? Should they and what would the impact be if they did not?
The terms below are measures or individual components of the money supply. Specifically considering the money supply of the United States, rank thes items from largest to smallest in terms of dollar value.
Arrival rate of customers and processing times of customers each have a coefficient of variation = 1.0. On average, how many customers are standing lines.
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