Discussion topic-tailored clothes

Assignment Help Macroeconomics
Reference no: EM132632300

Discussion Topic: Tailored Clothes

  1. Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100. When you arrive at the tailor shop, the posted price for the item is $150. Discuss how this scenario relates to producer and consumer surplus and how such surpluses, if any, affect buying and manufacturing decisions.
  2. Discuss any recent purchases you have made and for which you feel that a similar rationale seemed to be at work.

Reference no: EM132632300

Questions Cloud

Which underapplied and overapplied overhead arise because : Which Underapplied and overapplied overhead arise because? the overhead rate and the amount of the allocation base used by the product are both estimates
Which type of firm uses process costing : Which of the following is the same amount in the master budget and the flexible budget? Which type of firm uses process costing?
Discuss scientific and technical concepts : Discuss scientific and technical concepts related to materials science. Provide example of application-object that is made of materials specifically engineered.
Calculate the weighted average number of common shares : Calculate the weighted average number of common shares outstanding to be used in calculating earnings per share for 2020
Discussion topic-tailored clothes : Discuss any recent purchases you have made and for which you feel that a similar rationale seemed to be at work.
What under fifo equivalent units for beginning wip are : At the beginning of the process and beginning inventory is 5,000 units that are 25% complete, under FIFO equivalent units (EU) for beginning WIP are
Discussion topic-prescription medications : Critically analyze the pros and cons of putting a price ceiling on prescription medicine. Make sure to use concepts from the chapter
Compare the diagnosis of erysipelas and cellulitis : A 79 year old male presents with a fever. Upon assessment it is noted that he has a large reddened area on his left calf. It is warm and tender to the touch.
What most appropriate cost driver for the payroll processing : Allocate the costs of payroll processing using an activity-based costing system. The most appropriate cost driver for the payroll processing cost pool is the

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

Free Assignment Quote

Assured A++ Grade

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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd