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1. Commentators have often alleged that free agency for players would harm competitive balance in a league. Is this true?
2. Can the following two statements both be true?
a) Sports leagues are significant entities that generate tremendous revenues.
b) Local teams require significant public subsidies to pay for modern stadiums. Discuss.
Suppose that a firm's fixed proportion function is given by q = (min{k,l})^.5. write the short run maximimization problem and derive the 1st order condition. If the wage is w=1 and the price of output is p=4, how much labor will the firm demand in th..
Suppose the Federal Reserve is following the Taylor rule, which takes both inflation and business cycles into account when setting the fedeal funds rate. Also suppose that the inflation rate in the economy is equal to 3 percent and the output gap is ..
If income changes from $200 billion to $300 billion and consumption changes from $150 billion to $200 billion, what is the marginal propensity to save (MPS)?
In perfect competition, according to theory, all suppliers or consumers are price takers. In practice firms like Purdue Farms (chicken) or Jimmy Dean (sausage) bring a higher price than other brands. Why doesn’t economic theory apply to these organiz..
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt maker would be willing to supply 100 t-shirts. Using the midpoint method, the price elasticity of supply for t-shirts is about
find out the annual prices of oil for the past 5 years. By what percentage is the current price higher or lower than 5 years ago.
You are the chief economist of the County Regulatory Commission. The local cable TV monopoly franchise is regulated. The consulting firm provides the long run total cost and demand function estimates for the franchise: If the franchise were not regul..
There are three consumers of a public good. The marginal willingness-to-pay for the consumers are as follows: What is the efficient level of production of the public good? What is the efficient level of production of the public good? Propose an alte..
If the labor force of 155 million people is growing by 1.2 percent per year, how many new jobs have to be created each month to keep unemployment from increasing? Instructions: Enter your response as a whole number. New jobs per month:
Why do the regulated companies oppose deregulation?
Explain how the quantity of executives demanded, the quantity supplied, and executive pay will change based on the above statement.
q1. between the first quarter of 2005 and the fourth quarter of 2006 the cpi increased by 7 percent while the gdp
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