Reference no: EM13154151
Question 1
1. A college stadium capacity is 7,000. If the school management wanted a full house for the coming home game, it would set price at:
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Price per Ticket
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Quantity Demanded
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$10
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1,000
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9
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2,500
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8
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3,500
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7
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4,000
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6
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7,000
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5
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9,000
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2. Do you agree or disagree with the statement that: "A monopolist always charges the highest possible price."? Explain.
Question 2
1. In year 2007, the population of island I is 150, 000, of which 50,000 are either less than 16 years of age orolder than 65. Of the people who are of working age, 60,000 have jobs (40,000 do not). 20,000 are unemployed but actively seeking employment and there are 20, 000 who have given up the job search in frustration. The employment rate is? What is the labor force participation?
In year 2008, the economy of the island moves out of a long recession and job openings increases. As a result, 5000 discouraged workers become encouraged and begin searching for jobs. What is the unemployment rate in 2008? And, what can you conclude?
2. In Haiti, the income tax rate is 20% and the MPC is 0.75.
a. Find the government spending multiplier
b. the tax multiplier.
c. If the government equally increases pending and taxes by 1000, income will be increased by how much?
d. What should the government do to increase income by 400?
3. An increase in government spending of 100 will cause the level of output to rise by 250, MPS is :
4. Let the price of Barbancourt (the Haitian Rum) be $15 a bottle in the year 2000 and $20 in 2010, and its production 500 and 750 bottles respectively for the two years. Let the price of a bag of rice be $25 in 200 and $30 in 2010when its production is 100 and 250 bags for the same two years. Using the year 2000 as the base year, compute:
- The Nominal GDP for both years
- The real GDP for both years
- The GDP deflator for both yearsa
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Discuss the necessary conditions make price discrimination
: Discuss the necessary conditions to make price discrimination work and the best practices to use price discrimination to maximize profits while avoiding price wars.
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Budgeted direct labor cost for the month
: Margo's ending finished goods inventory is budgeted to be 20% of the following month's sales. How much was Margo's budgeted direct labor cost for the month of August, assuming that the hourly wage rate is $15.00
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Define h2o molecules via ion-dipole intermolecular forces
: Consider the following reactions and select the false statement below. CO2(g) + OH?(aq) ? HCO3?(aq) Cr3+(aq) + 6H2O(l) ? Cr(H2O)63+(aq) A. in Cr(H2O)63+ the Cr3+ is attracted to the H2O molecules via ion-dipole intermolecular forces
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New amount of break-even units
: Due to a technical breakthrough, the fixed costs for a firm drop by 25%. Prior to this breakthrough, fixed costs were $100,000 and unit contribution margin was and remains at $5.00. The new amount of break-even units will be?
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Find the government spending multiplier
: If the government equally increases pending and taxes by 1000, income will be increased by how much and what should the government do to increase income by 400?
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What are these payments worth to you on the day you enter
: Your grandmother is gifting you $100 a month for four years while you attend college to earn your bachelor's degree. At a 5.5 percent discount rate, what are these payments worth to you on the day you enter college?
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Financial statements if correct adjusting entry is not made
: A transportation company is paid in the month of May for delivering a truckload of goods, although it actually delivers it in June. What effect will there be on the financial statements if the correct adjusting entry is not made?
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What is the percent yield of a reaction
: What is the percent yield of a reaction in which 212 g phosphorus trichloride reacts with excess water to form 109 g HCl and aqueous phosphorus acid (H3PO3)?
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Explain restriction enzyme that has a concentration
: Given a restriction enzyme that has a concentration of 50 units/ml but your experiment requires that the concentration be reduced to 2.5 units/ml.
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