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A consumer is currently purchasing three pairs of jeans and five T-shirts per year. The price of jeans is $30, and T-shirts cost $10. At the current rate of consumption, the marginal utility of jeans is 60, and the marginal utility of T-shirts is 30. Is this consumer maximizing his utility? Would you suggest that he buy more jeans and fewer T-shirts, or more T-shirts and fewer jeans?
You are to select a newspaper/magazine/web article for economic analysis. The article must relate to Micro Economics. The article must also have been written after 1st June, 2012. You are to apply your economic theory to explain and analyse the newsp..
If the United States gave Pakistan $1 billion for environmental clean-up of its water system, but a large portion of the money was diverted to be used for purchasing weapons,what would this be an example of in economic terms
Let us assume you and ten of your friends are going to open and invest in a business. You do not want to pay double taxation on the profits. You want a type of ownership where profits must be distributed based on how much each person has invested ..
Suppose that there are three firms, who produce homogeneous products, and whom have the same marginal cost which is constant over output. These firms play an infinitely repeated Bertrand pricing game. Each period they simultaneously set prices.
Chamber of Commerce, and your colleague has written a position paper and asked you to proof read it. In that report, she concludes; "in 2009, the U.S. exports were $1.571 billion and imports were $1.946 billion, with a resulting trade deficit of $..
Even before the metals and manufacturing companies described earlier, U.S. railroads in the nineteenth century were M-form organizations based on geography. Why might a large railroad be better organized as M-form than U-form?
Derive the pro?t frontier, and explain why total pro?ts fall as the ?rms redistribute pro?t between themselves by redistributing output.
Use a graphical illustration to describe briefly what the influence an increase in immigration on the market supply of labor
Discuss and explain the interest parity idea using formal methods Describe IS and LM curve behavior and nominal interest rate in the domestic economy,
Suppose that full employment GNP (FE Y) is = 4000 A. Explicitly find the necessary change in G to get the economy to full employment GDP. B. Explicitly find the necessary change in Taxes to get the economy to full employment GDP.
In the long-run, how would the solution of someone who favoured an active policy approach to an expansionary gap differ from that of someone who favoured a passive approach to policy?
Both Landes Winner and Bill Joy explore the issue of technology and control. How would you compare their two views of current technological development Focus the comparison on a specific technology, such as genetically modified organisms.
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