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A new contraption to help you eat yogurt easily while driving, autogurt, is now on the market. It costs Justin $2 in equipment per unit, and takes him approximately 6 min to make. Justin charges $20 per hour. Justin additionally pays an electricity bill of $50 per month.
How much must Justin charge to avoid shutdown?
Demonstrate that under this analysis commodity movement and factor movement are substitutes for each other.
Suppose that firms in the short-run are earning above-normal profits. Describe what will take place to these profits in long-run for the following markets:
What are the profit-maximizing price and quantity? What will be the profits at these price and output levels?
Does microeconomics apply to every nation in the world. Explain your reasoning. and explain the specifics of any cases or examples you use and the implications of similar on local citizens of that country.
What price would Soft Rock have to charge to sell 2,000 T shirts? Compute the own price elasticity of demand when the price goes from $5 to $4.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Sketch a production possibilities curve (not a straight line), with consumer goods on the horizontal axis and capital goods on the vertical axis.
Compute the industry price necessary for firm to supply 10,000, 20,000, and 30,000 pounds. Compute the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.
The government decides to tax cookbooks because they feel that they encourage overeating and can lead to health issues, like obesity and heart disease. Answer the following: in 600-800 words
What incentives does a capitates physician have to keep his patients happy? What incentive does an FFS physician have?
You're the marketing manager of a firm that produces Titanium and sells this metal to two distinct kinds of customers: aircraft producers and golf club manufacturers.
Clear Limited produces Plasma TV and distributes to retailers under her own house brand. Recent trend in market seems to favour adoption of TV using either LED technology.
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