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Suppose an individual's marginal rate of substitution is three slices of pizza for one beer at the present bundle of beer and pizza she is consuming. If the price of beer is $1.00 and the price of a slice of pizza is $1.50, is the consumer maximizing her welfare?
How might the bankruptcy of General Motors and Chrysler--and the government response--damage the efficiency of the U.S. economy?
You are a competing firm are the only sellers of a new product. You both realize that the one who captures most of the market share will be the one that spends the most on advertising and promotions. You have $1 million for advertising and promoti..
A contractor submits a bid on a project, for which more research and development work needs to be done. It is estimated that the total cost of satisfying the project specifications will be $20 million, plus the cost of the further research and dev..
travel, or home improvement projects. For the sake of analytical tractability we will measure vacation travel, T, in units of four-day trips, and we will measure home improvement, H, in units of two-day projects, but we will also assume that Pat c..
Illustrate what research did Krueger use to "help win" a rise in the minimum wage in 1996. What did his results show.
If an absolute majority approve the plan, then they proceed according to the plan. If he fails to pass his proposal by an absolute majority, then P1 must walk the plank, and it becomes P2's turn to propose a distribution of the coins among the rem..
A profit maximizing firm produces three products X, Y and Z. The firm has no costs. There are three customers 1, 2 and 3. What will be the price of each product if the firm decides to sell them separately?
Assume if you scale up every price and nominal income in the same positive proportion Elucidate why this is true.
Elucidate the macroeconomic and microeconomic concepts and how they relate to the management of a global organization.
According to the Heckscher-Ohlin theorem, is Russia capital abundant or labor abundant? Briefly explain. What is the impact of opening trade on the real wage in Russia? Briefly explain.
Assume an economy is going through a Recession what type of Monetary Policy requires to be implemented through the Federal Reserve?
The Clark Corporation wants to expand. It is planning a cash purchase of Kent enterprises for $3 million. Kent has a $700,000 tax loss carryforard that could be used immediately
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