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Which of the following groups of people will be considered as? unemployed?
A. Partminus−time teachers in schools
B. Housewives who do not have a job but have been actively looking for jobs for the last two months
C. Graduates who do not have a job and are not looking for one
D. Stock brokers
Briefly explain the disparities we observed in level of economic development in the world today. According to easterlin, why is substantial formal education system necessary for sustain economic growth? what are some of the characteristics of that ed..
Home and Foreign both produce cars and food using labor and capital. In each country, labor and capital are both freely mobile across industries. It takes 5 units of labor and 3 units of capital to produce 1 unit of food, and 4 units of labor and 4 u..
what is the profit-maximizing price of e-books relating to do-it-yourself topics? At the profit-maximizing quantity, what is the average total cost of producing e-books?
Suppose two hot dog stands, Al’s & Bob’s, position themselves at different ends of a 100 yard stretch of beach. Assume there are 100 beach goers evenly distributed along the stretch of beach and travel costs are $.1 per yard. If Al charges $1 for his..
question 1. pick a country and talk about the products they import and export with the u.s.a. also talk about the
Here's some background info. A company's duty to operate honorably, provide good working conditions for employees, be a good steward of the environment, and actively work to better the quality of life in the local communities where it operates and in..
Boeing estimates the elasticity of demand for new commercial jets is –1.25. Explain why the following statements are either true or false (i.e., state whether true or false and explain why.) “The price effect dominates the quantity effect.” “A 4 perc..
What is the main reason for network externalities to arise? What are the economic consequences of such externalities? Several years ago there were several word-processing software, for example WordPerfect and many others. Now Microsoft Word basically..
This is a point I find very confusing and very hard to justify to students. Depending on the books, one finds many different conventions regarding the sign of elasticities and marginal rate of substitution (MRS). Some define them taking absolute valu..
Your pharmacy provides services to Medicare and PPO patients. You estimate a price elasticity of demand of -2.2 for Medicare patients and -5.3 for PPO patients. What is the profit-maximizing dispensing fee for Medicare and PPO patients? Why might the..
Assume reductions in the amount of ground level ozone shift the marginal cost of producing alfalfa from MC1= 45 + 2QS to MC2= 45 + 0.5QS. Use the producer surplus to estimate the maximum amount alfalfa producers would be willing to pay for this impro..
State and elucidate principle of diminishing marginal utility in relation to consumer demand. Illustrate what is production function and how is it relevant to a production manager.
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