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Deer have become increasingly apparent in a rural county. Last year it was estimated that there were 40 breeding pairs (a deer must reach the age of 1 to breed). A pair of deer produce an average of 1 fawn per year, and 80% of these fawns grow to reach 1 year of age. 10% of adult deer die of natural causes each year. An average of 5 adult deer are killed annually in highway accidents, and 2 per year in illegal hunting. Use difference equations to estimate the population of deer. Do you think it is likely that the deer population in the county is increasing? Will the deer population eventually reach equilibrium?
Discuss the advantages and disadvantages of doing business as a Sole Proprietorship, Partnership, Corporation and Limited Liability Company.
What empirical method generally is used to measure the degree to which products substitute for each other?
Explain the tools used to pursue expansionary and contractionary fiscal policy. During which phases of the business cycle would each be appropriate? b) Explain what is meant by a built-in stabilizer and give two examples.
How might you construct a measure of the change in the price level. Illustrate what additional information might you need to construct your measure.
Which of the following does NOT increase during an economic expansion?
Suppose a bar has two types of clients: men and women. Suppose the monopolist can only charge one price. What price would he charge? Suppose the monopolist engaged in third degree price discrimination. What prices would he charge?
Which of the following institutional arrangements is most likely to promote growth.
Draw 4 budget lines for food and shelter as directed. The consumer has $500 income, faces an absolute price for shelter of 10, and a budget line slope of -5. (Shelter is on the horizontal axis.)
The success of the apple ipad leads more firms to begin producing tablet computers. In the six months following the japanese earthquake and tsunami in 2011, production of automobiles in japan declined by 20 percent.
Consider the model of Gaynor & Town (2012) in which hospitals choose quality with a fixed price. Recall that the model begins with a demand specification, qj = sj (zj , z\j ) × D(¯p, zj , z\j ), where the hospital’s market share sj is a function of i..
For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither. sells a product differentiated from that of its competitors. has marginal revenue less than price
q1. suppose china produces both agricultural and capital goods. draw and show the change in the ppf when an outbreak of
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