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1) What is flex time and what advantages/disadvantages does it give companies and workers?
2) Why does statistical estimation need caution especially regarding the long run?
3) Why are economic profits such fleeting things for a perfectly competitive firm? Explain.
Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works. Because you have a good understanding of basic economics, he has asked you to explain..
o Determine whether the change is an increase or a decrease. o Show the change in demand and/or supply on the graph of the initial equilibrium. (You will have one graph for each event.) Identify the result on the equilibrium price and quantity of den..
Use a production possibilities frontier graph to illustrate the trade-off to an economy between producing consumption goods and producing capital goods.
How do costs play into your everyday life? For example, why might it be cheaper to drive on a toll-road vs. a free-access interstate Also, can you identify situations where you may fall victim to the sunk cost fallacy (we all do)
Country B Apples=36 Bananas=15 1. Calculate the pretrade relative price of Apples in terms of Bananas. Relative price of Bananas 2. Which country has a compartive advantage in Apples ANd in Bananas
The table given below are the demand and supply schedules for television sets in Venezuela, a small country that is unable to affect world prices.
IKEA is a Swedish home furnishings retailer. An official Indian agency supports IKEA opening 25 stores in India. Demonstrate the impact of IKEA's entry into the Indian home furnishings market.
Discuss the opposing arguments as to whether consumer sovereignty should prevail in medical care.
We typically focus on firms from well-developed economies entering markets of less developed economies. Do firms from less developed economies have a chance of success if they enter developed markets such as the United States What competitive adva..
In equilibrium, if the marginal utility per dollar ratio of milk for Aisha is greater than the marginal utility per dollar ratio of milk for Debbie, then the marginal utility per dollar ratio of bread for Aisha must be smaller than the marginal ut..
You're the GM of firm that manufactures PC's. Demand for them has dropped 50%, thanks to soft economy. The sales manager has identified only one potential client, who has received many quotes for 10000 new PC's.
The marginal and average cost curves of taxis in metropolis are constant at $.20/mile. The demand curve for taxi trips in metropolis is given by P = 1 - .00001q, where P is the fare, in dollars per mile, and Q is measured in miles per year.
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