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Identify the parts of the circular-flow diagram immediately involved in the following transactions. John buys a car from Ford for $25,000. Ford pays George $4,000/month for work on the assembly line. Julie gets a $20 hair cut. Joe receives $5,000 of dividends on his Ford stock.
Using neo-classical model of labor-leisure choice to answer the following questions. How does an increase in wage rate change the optimal consumption-leisure combination chosen by the worker? State income effect and substitution effect.
Les argues that the 10 year note is a better risk free rate at 2%. He also argues that the stock market is too high and the expected return is really only 5%. Assume that he is correct. The company has a beta of 1.6. What is the cost of equity?
Suppose that your co?ee shop has the production function. where b is the amount of co?ee beans used and m is the amount of milk used.5. What is the co?ee shop’s marginal product of beans? What is the co?ee shop’s marginal product of milk?
Generally describing the business also include a plot of the Price also Quantity data that you obtained.
Assume your fixed cost is $250/acre, the variable cost per bushel is $1.22, and you produce 65 bushels/acre. If the price you receive per bushel is $3.83, what is your profit per acre? If the price you receive per bushel is $3.83, what is your breake..
Suppose the market for jelly is perfectly competitive. The equilibrium price of jelly is $4.00, and the equilibrium quantity is 30. The government imposes a per-unit tax of $1.00, paid by the producers of jelly. Draw two sets of identical price-quant..
Distinguish between skimming price and penetration price policy. Which of these policies is relevant in pricing a new product under different competitive conditions in the market?
An outcome that can result from either a price ceiling or a price floor is:
If the demand curve is QD = 100 - 10P and there is a $1 price increase, then the elasticity of demand at P = 2 is 2. If the absolute value of a demand elasticity is less than 1, then
What happens to equilibrium price and the equilibrium quantity of each good described in the situations described below? Illustrate your answers. Sunnyvale is named the most liveable city in the United States. At the same time, the wage rates of home..
You gather data on US workers aged 22 to 55 from the Current Population Survey. You define the Average Hourly Wage as self-reported total annual labor income divided by self-reported total annual work hours. Describe in words how to interpret the coe..
Daycare for children is in competitive industry with long run equilibrium price at $60/day. The government intervenes and limits what providers can charge and imposes a price ceiling of $45/day. As a result:
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