Reference no: EM13995233
1. Tom Brady gets $200 per week as allowance. Irrespective of what the price of comic books is, he spends exactly $100 on comic books every week. Taking absolute values, Tom’s elasticity of demand for comic books is
A. always greater than one but less than infinity.
B. always one.
C. always zero.
D. always infinite.
E. impossible to determine from the information given.
2. Suppose Jerry tells us his preference over 3 bundles, B1, B2 and B3. Sizing them up, Jerry claims that B1 is at least as good as B2, and that B2 is at least as good as B3, and that B1 is better than B3.
This tells us that Jerry’s preferences
A. must be for goods that are perfect substitutes.
B. are transitive.
C. do not satisfy the principle that more is better.
D. do not satisfy the principle that average bundles are at least as good as extremes.
E. will give rise to indifference curves that slope upward.
|
What is the thesis of the article
: Create an article review of 750-1,000 words that addresses the following: What is the thesis (main idea) of the article? Why is (are) the author(s) writing about the topic? What facts are presented
|
|
Table of expected frequencies
: If a table of expected frequencies differs very little from the frequencies that were observed, would the cal- culated chi-square be large or small? Why?
|
|
Using the supply and demand graphs
: Using the supply and demand graphs for both the bond market and the loanable funds market, show the effects of an increase in the expected return on stocks.
|
|
Assume that grapefruit is an inferior good
: Assume that grapefruit is an inferior good. Draw a perfectly competitive market for grapefruit and a firm selling grapefruit in the long run equilibrium where price is $1 and the firm’s equilibrium quantity is 50. Explain the following situations gra..
|
|
Irrespective of what the price of comic books
: Tom Brady gets $200 per week as allowance. Irrespective of what the price of comic books is, he spends exactly $100 on comic books every week. Taking absolute values, Tom’s elasticity of demand for comic books is. Suppose Jerry tells us his preferenc..
|
|
Developing a mission statement for a company
: Have you ever been involved in developing a mission statement for a company? If you have, you may recall agonizing over every word, how long the mission should be and what message you want to convey
|
|
During the recent recovery-production of goods and services
: During the recent recovery, we have noticed high profit levels and high production levels by firms, yet unemployment has remained relatively high. Explain this issue by discussing the use of capital and labor in the production of goods and services.
|
|
Long term obligations usually are reclassified and reported
: Long-term obligations usually are reclassified and reported as current liabilities when they become payable within the upcoming year (or operating cycle, if longer than a year).
|
|
What are the key provisions of the affordable care act
: What are the key provisions of the Affordable Care Act that apply to the small group market? What sort of changes do you expect to see in that insurance market as a result of the legislation
|