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Give 2 examples of actions taken by a company, government, or organization whose effect is to prevent specific markets from reaching equilibrium. What evidence of excess supply or excess demand can you cite in these examples?
If there are 200 rooms also the operating costs $20,000 plus a cleaning fee of $5 per room per day, compute the profit during the one-week period.
Assume that health production is subject to diminishing returns and that each unit of health care employed entails a constant rate of iatrogenic (medically caused) disease. Expalin why would the product of health function eventually bend downward.
How do the GDP per capita change after accounting for price indices. Why is it important to use price index adjustments.
Explain why is the supply of physicians a major cause of concern. What is the quintity of aprtments demaneded, and what is the quanitity of apartments supplied.
Though it does lead to an interesting next question. Illustrate what do you think would happen to sale and price of DVDs after this.
Illustrate what is the airline's profit-maximizing fare? How many passengers does it carry per week, using how many flights.
Suppose that the demand for orange increases. Carefully explain how the rationing function of price will restore market equilibrium.
Comment on this trade-off between equity and growth. Explain how would you go about resolving the issue if you were the president of a small, poor country.
Mustard and mayonnaise are substitutes. Mustard and relish are complements. Mustard is a normal good. During the summer, about 50% of all mustard was recalled by manufacturers and removed from store shelves.
Discuss some of the methodological and measurement problems one might encounter in using time-series data to estimate the parameters of this model.
If each economy specialized in its comparative advantage, what range of prices would bacon trade at in terms of eggs.
As per to Global Insight, a Massachusetts economics consultancy, elucidate what will happen if oil prices remain in the range of $65 to $70 per barrel for a couple of more months.
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