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Peter Minuit bought an island from the Manhattoes Indians in 1626 for $24 worth of beads and trinkets. The 1991 estimate of the value of the land on this island was $12 billion (1 billion = 109). What rate of return would the Indians have received if they had retained title to the island rather than selling it for $24?
People end up tossing 12% of what they buy at the grocery store (Reader's Digest, March, 2009). Assume this is the true population proportion and that you plan to take a sample survey of 540 grocery shoppers to further investigate their behavior.
Suppose P=20-2Q is the market demand function for a local monopoly. The marginal cost is 2Q. The local monopoly tries to maximize its profits by equating MC= MR and charging a uniform price. What will be the equilibrium price and output
Full-employment level of real output is $250 and the initially the price level is 100. Use the short-run aggregate supply schedules above to answer the questions that follow a)What will be the level of real output in the short run if the price leve..
GKX Industries expects sales of its hydraulic seals (in inches and metric sizes) to increase according to the cash flow sequences $70+4k, where k is in years and cash flow is in $1000. What is the amount of the cash flow in year 3
Every worker in the factory works on one machine and is able to produce 6 shirts per hour. The cost of running the machine is half a loaf of bread per hour, the cost to employ each worker is 1.5 loaves of bread per hour.
If the regulators of LWE want to make sure that there is no deadweight loss in this market, what price will they force LWE to charge? What will output be in that case. Calculate consumer surplus and LWE's profit with that price.
How large is the MI money supply How large are required reserve How large are excess reserve By how much could the banks increase their lending activities What will be the total effect on the M3 money supply
Use the following informations to comput the inflation rate between the 4th quarter 2010 and 4th quarter 2011. Year: Qtr Nominal GDP(current dollars) Real GDP (2005 dollars) 2010 4 $14, 755.00 ..
Suppose that market demand is given by Q = 10 - 0.01P in which Q is the quanity of a good given in million units, and P is the price of the good given in $ per unit. In the long-run, a typical producer faces average cost AC = 9 + 2Q and marginal c..
Suppose the ratio of deposits that banks hold in the form of reserves is 7 percent. Suppose further that people want to hold 8 percent of their deposits in the form of cash. Then if the fed wants the money supply to be $6,228 billion, what is the ..
Two firms, Rattler and Sidewinder, produce and sell snakeskin cowboy boots. The following payoff table represents profits in millions of dollars for a simultaneous pricing decision between the two firms.
As a dentist you find that a person's annual demand curve for appointments are P=500-50Q. The marginal cost for your service is $50 There are three ways you could charge for your services -Charge $50 each time someone makes an appointment -Sell an an..
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