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1) What is a price ceiling? 2) Why is there a need for rent control in Los Angeles? 3) How does rent control affect the real-estate market? 4) Are you in favor of rent control or not, and why? 5) What needs to happen to prevent scarcity from re-occurring in the future?
The long-run total cost function for a firm producing skateboards is: TC = q^2 - 45q^2 + 900q, where q is the number of skateboards per week. MC = 3q^2 - 90q + 900. Find the average cost function and find the output level that minimize the average to..
When inflation occurs some economic agents gain and some lose. Who would gain and lose if deflation occurs? Why? What will happen to interest rates and investment according to Keynesian and Classical/ Monetarist theories? Is inflation still a possibl..
Imagine that every time you try to use your word-processing program while running Windows 7, your system slows down or freezes. Which Windows monitoring tool (Windows Task Manager, Resource Monitor, Performance Monitor, etc.)
PhilaU Equipment Co. has a CNC machine that was purchased 5 years ago for $150,000 plus $25,000 of installation costs. It has been depreciated as a MACRS-GDS 5-year property class. It has an estimating remaining life of 8 years. O&M costs were $10,00..
Suppose that a developing country devotes extensive resources towards improving the education and skill level of the labor force. How might this help the country avoid a coordination failure? Is this strategy likely to be successful? Why or why not?
What type of leader are you aspiring to be? Please note one person that you would like to model your leadership behavior after. Be sure to note who the person is and why would you want to model their behavior. Finally, note what steps you could take ..
If the total fixed cost increases to $5,000, Elucidate how many papers should be sold daily for profit maximization.
Suppose the EU now institutes a cap and trade system. Each permit is good for one ton of carbon abatement. The total cap is 120 tons. Each of the two plant types receives an equal amount of permits. What is the market price for permits?
It can be really hard to engage this kind of thinking because it requires risks that aren't even known or knowable, but it's these very risks that reap the biggest rewards. So, as a leader how might you evaluate an option like this? What would it tak..
What does this imply about the relationship between the elasticity of the product demand curve and the magnitude of the scale effect? What does this imply about the relationship between the elasticity of the product demand curve and the elasticity of..
Suppose there are two types of Scottish beer, Skullsplitter and Dragonhead Stout. Draw indifference curves for the following consumers (put Skullsplitter on the x-axis andDragonhead Stout on the y-axis). a. Angus likes variety and prefers to drink..
Eddies precision shop is insured for $700,000. The present yearly insurance premium is $1.00 per $100 of coverage. A sprinkler system with an estimated life of 20 years and no salvage value can be installed for $20,000. Eddie uses a MARR of 15 perce..
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