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When a pair of dice are tossed, the results may be any whole number from 2 through 12. In the game of craps one can win by tossing either a 7 or an 11 on the first roll. What is the probability of doing this?
A society has two people: 1 and 2. Person 1's true demand (marginal benefit) for a public good is given by P= 60 - 2G and 2's true demand is given by P = 120 -G. the total cost of providing G is TC = G^2. Calculate the total (net) benefit to society ..
A monopolist has demand curve given by P = 100 –Q. The total cost is given by TC = 16 + Q2. Find the monopolist’s profit maximizing quantity and price. How much economic profit does the monopolist make? If this was a perfectly competitive firm, what ..
If you were the CFO of a company that had to decide on hundreds of potential projects every year, would you want to use sensitivity analysis and scenario analysis or would the amount of arithmetic required take too much time and thus not be cost-effe..
Shaughnessy Consulting, LLC currently enjoys a patent on software that estimates economic damages for clients involved in personal injury lawsuits.
Explain by how much would it have to increase government purchase to achieve this goal.
Describe a situation that would call for applying one or more of any (dynamic economic model/legit model/random walk model/spurious regression/co integrated time series/tests of stationary). Explain your rationale for applying the model you chose.
The Keynesian model and the AD/AS model are similar in many ways and different in many ways. Show, in a few diagrams, how the slope of the AS curve affects the accuracy of the Keynesian model’s predictions about the results of an increase in autonomo..
Provide a brief description of 3-5 CIKR that exist within your community. Select one CIKR and identify the private and public partnership structure. What Sector-Specific Agency would be responsible for providing institutional knowledge / and speciali..
discuss the change in the U.S. unemployment rate and inflation rate over the past year based on the Phillips curve concepts.
Assume that the following data characterize the hypothetical economy of Trance: money supply = $190 billion; quantity of money demanded for transactions = $160 billion; quantity of money demanded as an asset = $10 billion at 12 percent interest, incr..
Illustrate how do you think this would affect household spending on goods and services.
The following equation represents the daily market demand for crude oil. If collusion is not allowed, what kind of market arrangement do you think is likely to result from competitive interactions among these four firms? Now suppose collusion is allo..
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