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Assume the price of large gulf shrimp is dollar 18 per pound and that the price of hard shell Maine lobster tails is dollar 36 per pound. Your professor uses 1/2 pound of lobster or 1/2 pound of shrimp with various pasta dishes. In a typical month he cooks 4 shrimp/pasta dinners and 1 lobster pasta dinner. Is his marginal utility of a lobster based dinner equal to the marginal utility of a shrimp dinner for him? If so, explain. If not, what is the approximate difference in MU of shrimp vs. lobster?
GDP is defined as the market value of all final goods and services produced within a country in a given period of time. In spite of this definition, some production is left out of GDP. Explain why some final goods and services are not included. You f..
Which theory of regulation suggests that regulatory outcomes reflect the desire of regulatory agencies to increase their own budgets and power more than they reflect any interests of business or the public?
Briefly explain how each of the following events is likely to affect real GDP. Do you think the changes in real GDP rejects a similar change in economic well-beings? A hurricane in Ontario forces Canada's Wonderland to shut down for a month.
An electricity industry contains two generating firms, one of which has marginal cost= $2.50 and the other of $1.50; the demand curve is Quanity=40-4*price. Quanities are in MWH and price are in $/Mwh. Very low production cost! Find cournot Equilibri..
Suppose the number of officially classified employed persons equals 80 million people; the number of discouraged workers is 12 million people; the number of stay at home spouses is 15 million people; the number of underemployed workers is 9 million p..
There are mutual funds that invest in stocks of socially responsible or ethical or green companies. Do a web search to identify at least three such funds and look up their performance. How have these funds performed over the past five years compared ..
Consider a case of small open economy. In this economy, there is an IT revolution, and as a result the productivity of the economy has gone up. What will be the eject of this productivity increase on interest rate and net export in this economy? What..
describe how current economic conditions affect your organization or one with which you are familiar. Identify most important economic indicator affecting your organization and elucidate why.
Discuss - Deficit spending paves the road to ruin. Explain how much of the national debt is held by foreigners.
Depends on the evidence in this article and what you know about the economy in the United States, decide which of these statements is most likely to be true.
Consider the following investment opportunity: With interest at 7%, what is the bene?t–cost ratio for this project?
Frank receives an annuity of $71568 at the end of each year. The amount he receives decreases by 3% each year. If Frank deposits the annuity in an account paying 9% compounded annually, how much will Frank have in the account at the end of 8 years?
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