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Explain why profit is due to uncertainty and why all of us speculate.
Discuss at least three markets where you think time varying prices mainly help to take advantage of differences in willingness to pay between groups of people
Suppose there are 30 identical hot pretzel stands operating in New York City. Each stand has usual U-shaped average-total-cost curve. Market demand curve for pretzels slopes downward and market for pretzels is in long-run competitive equilibrium.
The number of strikes in the economy will be lower in years having:
What is the impact on residential real estate market after the Fed stopped QE3 (buying bonds monthly from banks) in 2014? Please state the shift on either demand curve or supply curve. If a price ceiling on real estate agency commission is set at 1% ..
The budget deficit of the government of Lyria, an open economy, has persistently remained higher than 6 percent of GDP. Murphy Smith, a banker, feels that a high budget deficit is detrimental to economic growth. In his opinion, there should be a law ..
The president of a student organization wishes to raise $500 for a women's shelter by selling single long-stem red roses to students on Valentine's Day.
What is the standard deviation of the sampling distribution?(Use 3 decimal digits)
Besides your pricing decisions, what are your suggested nonpricing strategies? What nonpricing strategies will you use to increase barriers to entry?
Consider a consumer who has utility function u(x, y) = min{2x, 3y} where x, y are amounts of goods X, Y consumed respectively. (a) If px = 1, py = 1, consumer has total budget w = 10. What’s the optimal consumption bundle of this consumer?
The unemployment rate measures only the fraction of the labor force searching for work. Sometimes economists are interested in the length of time that unemployed have been out of work. One convenient summary measure is the median duration of unemploy..
Future Economic Impact: At present there are a few notable industry leaders that have strong opinions on AI, its future, and its impact on humanity. Explain these opinions and critically critique them.
Search the web and view the video clip Golden Balls - £100,000 Split Or Steal? 14/03/08.
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