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Rules restrict how we interact with others and, therefore, restrict our ability to engage in exchange. Given these are undesirable (from an economic standpoint), what benefits to rules provide us? What is the difference between formal and informal rules? Between constitutional and post-constitutional rules? When would you expect constitutional rules to be effective? Why?
Consider a Total Cost Function C=10+Q. What is the equation of AC(q)? If Marginal Cost MC=1. Construct an Index of scale economies. Does this industry display Economies of Scale? Write a few sentences about what this might mean for competitive outcom..
Using short-term cost theory, explain the impact of this additional patient on the SAVC and SATC. Do they increase or decrease? Why?
You are the prospective owner of an NBA franchise. Your intent is to buy a team and own it for 15 years. Go to the below website to get your data. Pick any team that does NOT show a negative operating income.
You work for a Stock Brokerage Company (S). As part of its sales incentive program, S awards points to its salespeople for sales they make. These points can then be cashed in for vacation trips. S owns 20% of a certain fund group (M), and S's ownersh..
What determines who pays larger fraction of the tax, the sellers or the buyers? Explain with the use of a diagram. Show on the same diagram in part b the deadweight loss that results from the tax.
Identify a recent purchase in which the price of the product was an important consideration in the decision-making process related to purchasing the product. What other factors affected your decision? How important was your income as a factor? How im..
Explain how do I draw a production possibilities curve for 2 products in an economy if a natural disaster affects one but not the other.
At what output level would the monopolist produce? (C) At what output level would a perfectly competitive firm produce?
What would be the potential leadership problems a Chinese manager at Lenovo might encounter as he or she moves into a senior management position at the firm’s new New York offices, where he or she will work with former IBM employees?
You have been asked to estimate the per item selling price of a new line of clothing. Use the estimated time complete item number 50 as your standard time for the purpose estimating the selling price per item( rounded to the nearest cent).
Your employer has anticipated needing $60,000 in two and a half years to finance the purchase of a new lathe. If they anticipate making a single lump sum investment today into a savings account that will return 12% interest compounded continuously, h..
A corporation just issued a 10 year, zero coupon bonds having a YTM of 10%. Under current tax law, how much interest can the corporation deduct in the first year?
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