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Suppose that in a week the price of Greek yogurt increases from $5.00/lb to $5.25/lb. At the same time, the quantity of Greek yogurt supplied increases from 100,000 lbs to 125,000 lbs. What is the price elasticity of supply for Greek yogurt?
When two people enter into a contract they both expect something very specific from the other, right? Does this make calculating damages, in a case of breach of contract, easy, Why or why not?
What is the smallest per product unit subsidy that must be paid to the monopolist in order to induce it to produce 7 units of its product?
the firm will earn $15,000 if it introduces the new product, and revamping the production facilities will earn new profits of $60,000. What should the manager do.
Explain the interdependence of Banks and Railroads and what effect it had on economic development. Explain why southern railroads had a much more difficult financial time then did railroads in the north.
A descriptive essay on “is there a "free-rider" problem associated with public goods and services? How does government address this free-rider problem? What are the necessary ingredients for a nation to experience greater rates of economic growth, hi..
In 2014 in a country with a labor force of 100 million, 6 million people were unemployed. In 2014 the number of unemployed people increased to 7.750 million. Assuming that the labor force did not increase in 2014, use the Okun’s law and formula predi..
What is the result of an increase in the price of bread, a normal good? The demand curve shifts to the right. The demand curve shifts to the left. The quantity demanded increases. The quantity demanded decreases.
Illustrate what price should you charge in order to maximize revenues from the sales of the Highlander. Please put this into Excel so I can see the formulas/calculations.
Consider the following information for a simultaneous move game: If you advertise and your rival advertises, you each will earn $5 million in profits. If neither of you advertises, you will each earn $10 million in profits. If you and your rival plan..
Does convergence property imply that a measure of dispersion of income per person across the economies will narrow over time? Absolute convergence held for US sates from 1880 to 2000. A measure of the dispersion of per capita income across the states..
A natural monopoly has an incentive to pad its cost of production under which type of regulation?
Regarding long-term unemployment, what incentives do you believe the long-term unemployed face with unemployment insurance programs? As part of your answer, make sure to address what impact these programs have on the economy of a country.
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