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Suppose that Central High School has preferences that can be represented by the utilityfunctionU(C,X) =CX2. Let us try to determine how the various plans described inthe previous problem will affect the amount that C.H.S. spends on computers.
(a) If the state adopts none of the new plans, ?nd the expenditure on computers thatmaximizes the district's utility subject to its budget constraint. The Budget is 60'000.
The Answer is 20'000 but how do I get C*= 1/3 x 60'000 = 20'000?
Why 1/3?
A monopolist produces according to the following demand curve: p=200 - 4Q. Assume that the firm faces a constant marginal cost and constant average total cost of 60 per unit produced. A.calculate the optimal output that this monopolist should prod..
A trendy French restaurant is one of the first businesses to open in a small corner of a commercial building still under construction. The restuarant has received rave reviews and has lines of diners waiting for tables most nights.
Discuss the effect of international trade on each market structure
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Major events in our country and around the world tend to have economic advantages for some segments of society and disadvantages for others. Determining who benefits can be tough for negative events
As an economist, you have been asked to address a meeting of a group of international professionals to explain the differences between microeconomics and macroeconomics and to provide real-world examples. Please create a PowerPoint presentation of 5–..
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Identify two different labor market segments. What compensation philosophy (below market, at market, or below market) and approach to total rewards would work best for each one and why?
Suppose government were to provide free daycare for children and assume this has no effect on the real wage w, taxes T, and dividend income π. Determine effect of the daycare program on consumption, leisure and hours worked by the consumer.
Suppose that the price of peanuts falls from $3 to $2 per bushel and that, as a result, the total revenue received by peanut farmers changes from $16 to $14 billion.
Choices for cuts and spending, paying close attention to what you read in the Bowles and Montgomery articles. Finally, analyze the effect your choices will have on the economy.
Does the goal of full employment imply zero unemployment? If not, what types of unemployment would you expect to be present if the economy is at full employment?
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