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Suppose that for the past two months, you have studied economics one hour a day. You now decide to study economics two hours a day. For the past two months, ____.
A) your marginal cost of studying economics for an hour must have exceeded its marginal benefit
B) the marginal cost of studying economics must have fallen
C) your marginal benefit from studying economics an hour must have been greater than its marginal cost
D) the opportunity cost of studying economics must have risen.
suppose that the demand for microeconomics textbooks at gsu is given byqd 10000 - 25pand that the supply of
Discussion Question: 1.Assume that you were ready to buy a custom tailored dress (or men's suit) and you are prepared to pay up to $200 for it. Also assume that the tailor is prepared to sell that item of clothing for as little as $100.When you arriv..
Discuss the tradeoffs a policymaker faces in choosing between larger fines, longer prison sentences, and greater monitoring in deterring crime. Give at least two reasons discussed in class why deterring crime through longer prison sentences may no..
Compute the spilt between principal and interest paid
Use the regression equation to focus the demand for the product you chose for the next three periods. Assess what the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitabili..
Suppose that the euro zone is the home "country" and the US is the foreign country, which means that exchange rate, which has the dimensions of local currency per unit of foreign currency, is in units of euros per dollar.
Consider two ways to protect your car from theft. The Club(a steering wheel lock) makes it difficult for a car theif to take your car. Lojack(a tracking system) makes it easier for the police to catch the car thief who has stolen it.
Briefly describe the economic problem you have selected and assess the impact the problem poses to society
A firm’s Marginal Revenue curve (in class we called this also Marginal Value) is given by w=1200-2L, where w stands for the wage and L for the quantity of labor. The labor supply curve is given as w=L.
You are given the following information about the US and China's ability to produce widgets and gadgets. What is the range of prices for one widget in terms of gadgets
If the two are not independent, a shift in the demand curve can lead to a shift in the supply curve referred to as? a)supply-side economics b)physician-induced demand
ABC is monopoly seller of aluminum in United States and sells no aluminum on world market. It sells aluminum domestically for $2500 per ton and its average expense is $2200 per ton.
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