Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The table below lists the prices from last year and the base year for a college related basket of goods.
Basket of Goods
Price Base Year
(dollars)
Price Last Year
a. What is the total cost for a basket of goods that includes 200 gallons of gas, 60 pizzas, 45 6-packs, and 3 textbooks?
In the base year: $_______
Last year: $________
b. Using this basket of goods, compute the following CPI values:
Instructions: Round your answers to 2 decimal places.
In the base year: ______
Last year: ______
c. Assume that rather than buying textbooks for their courses last year, all students decided to buy online access cards at $100 per textbook. Compute the total cost for this basket of goods and the CPI.
Total cost of basket: $ ________
CPI: _________
Sam’s utility function is U(x1, x2) = 2x1 + x2, where x1 is the number of units of good 1 he consumes per week and x2 is the number of units of good 2 he consumes per week. Sam has $200 a week to spend. If he belonged to the club, he could buy good 2..
Your income rises from $1,000 a year to $10,000 and your purchases of beer increase from 10 to 20. Assume a linear relationship between income and quantity demanded. What number below most closely approximates your income elasticity at income equals ..
You compete with many firms offering similar products (monopolistic competition). An economic consulting firm has estimated the own-price elasticity for your most profitable product is -1.50. Your marginal cost is constant at $75 across most of your ..
Compute the marginal and average tax rates for three individuals respectively earning $70,000, $93,500 and $200,000 annually.
Please show how labor markets (assumed to be competitive and initially in equilibrium) are affected by the following changes. Clearly explain your reasoning. Labor market for math and science teachers. Wages available in private industries utilizing ..
Consider two maple syrup producers that engage in Cournot competition. Inverse demand for maple syrup is given by P(Q) = 16 − Q and the marginal cost of each producer is 4. The two producers compete with each other each period by choosing an amount o..
Compute the nominal GPD and real GDP? Using the quantity of money equation, what happens to the money supply if velocity of money is constant but price level decreases by 3 % and the real GDP increases by 8%? What would the money supply (M) be if vel..
Elucidate what would the seller's cost of capital have to be in order for the discount to be cost justified.
Illustrate what do your previous answers imply for the price of haircuts relative to the price of food.
What causes movement along AD curve? What causes a shift in the AD curve? What are the factors that affect consumer spending ( C)? What are the factors that affect changes in Investment spending (I)?
Discuss the reasons why small businesses are so important to the U.S. economy. Understanding that “Diversity is also desirable for innovation, flexibility, and organizational success,” how does it then play a part in small business success? Please ci..
When sketching a graph of a market in which sellers have limited ability to adjust the amount they produce, I will draw the supply curve with
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd