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While you were an intern you bought 5 packages of hot dogs a month. After acquiring a full-time job with a considerably higher salary, you stopped purchasing hot dogs. Explain this behavior. 7. An investor has to choose between stocks A&B, each selling for $10. Stock A, can either increase in price to $12, with a 50% probability or stay at $10 with a 50% probability. Stock B can either increase in price to $15 with a 50% probability or go down to $7 with a 50% probability. Which of the stocks would the investor choose?? 8. Peter’s Pizzeria sells both pizzas and wings. It wants to increase the sales of its pizzas. If the price of the wings increase, what economic concept does Peter assume? Explain. 9. Explain the indifference principle and provide an example. 10. Explain what happens both long and short term when a sudden increase in market demand occurs in a competitive industry.
An entrepreneur seeks $4 million from a venture capitalist. They agree that the entrepreneur’s venture is currently worth $12 million and that, when the company goes public in an IPO three years hence, it will have an expected market capitalization o..
What is the total market demand for polyglue at the price established by Alchem in Part (a). How much of the total demand do the follower firms supply?
How do entities determine their fiscal period? Give an example. How would you define a highly leveraged company? What ratio would you use to determine this? Tell me one thing you learned from the guest lecture, and how do you think it may be useful f..
Suppose a firm sells 20,000 units at a price of $10, but sells 40,000 units at a price of $8. Calculate the price elasticity of demand over these prices using the arc interval formula. Determine if the price elasticity if demand is elastic, inelastic..
State whether each of the following events will cause a movement along the demand curve for Big Mac or whether it will cause the demand curve for Big Mac to shift? Fast-food restaurants post nutrition warning labels.
It was top news a week ago that Bank of Ukraine increased its rate to 30%. And the news said they did this to fight inflation. But I don't understand one thing: isn't the increased rate of "money printing" of the central bank only aggravates the prob..
If a country's growth is biased in favor of its import, this should unequivocally improve its terms of trade also its economic welfare. Use a graph to explain why
Macroeconomic equilibrium and the multiplier effect The following graph shows a hypothetical economy in short-run equilibrium at an output level of $400 billion and a price level of 100. Suppose that potential GDP in this economy is $200 billion. Use..
The citizens of Springfield love donuts. Due to health concerns, the city has decided to make citizens responsible for paying a per donut tax of 50 cents. a) On the graph, please shift the appropriate curve to illustrate the effect of the tax.
If free trade increases a domestic firm’s access to the global market place such that it can double all factors of production and realize a threefold increase in output, what happens to its average unit costs and its ability to compete in the global ..
If Starbucks introduces the world to premium blends, and demand rises substantially, illustrate what will happen in this market as it moves to a new equilibrium.
Suppose at current factor prices a country’s manufacturers use 60 hours of labor for each acre of land and food is produced using only fifteen hours of labor per acre of land. If the economy’s total resources are 1800 hours of labor and 180 acres of ..
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