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1)Matt has $500 of income to spend traveling on hotels and puzzles. The price of a puzzle is $10 and the price of a hotel is $50.
a. Diagram Matt's budget constraint.
Now, suppose Matt's parents buy him a $300 gift certificate each semester that can only be used to buy books.
b. Diagram Matt's budget constraint when he has the gift certificate in addition to his $500income.
c. Is Matt better off with the gift certificates? Illustrate this using indifference curves.
If there are lots of workers like you, where will the apartments be relatively more expensive? How will you choose where to live?
The government has decided to impose a new excise tax on the sale of cigarettes. suppose that we know the demand for cigarettes is relatively inelastic, but the supply is relatively eleastic. Which group, consumers or producers, will e affected more ..
The government finds that a lot of employers are prejudiced, and discriminate against foreign workers. The secretary of labor offers the President three options to deal with this problem: Arrest all employers who are hiring foreign workers at less th..
Create detailed Pseudocode for a program that calculates how manydays are left until Christmas, when given as an input how many weeksare left Christmas. Use variable named weeks and days.
Iggy only consumes two goods: coffee and cigarettes. Three cigarettes can be traded for one cup of coffee in a free market, or one cup coffee can be traded for three cigarettes. Iggy initially has 12 cigarettes and 5 cups of coffees. Find an equatio..
How capital gains and percentage returns are calculated?
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You will make 34 annual payments. How big must your first savings payment be, to reach your goal?
Compute point elasticities at prices of 5 and 9. Is the demand curve elastic or inelastic at these points.
Mate Construction has a taxable income of about $20M. Some construction equipment has the following costs:
In the late 1990s, the U.S. economy experienced a period of extremely low inflation and extremely low unemployment. Use the AD/AS model to explain what sort of change in the economy would cause this. Include a graphical analysis in your answer, and p..
1. describe the schumpeterian notion of creative destruction. how does it compare to kirzners view of the
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