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Q1. Assume demand take the form Q = 36P-1.
a. Show that the price elasticity of demand is constant and equal to -1.
b. Write the total and marginal revenue functions
Q2. Given a scenario where government expenditures increase by $400, and taxes were decreased by $400, yet both caused the GDP to rise by more than $400. This may have occurred explain why?
What percentage of the total variation in the number of calls is explained by the regression model.
Social responsibility other than to make as much money for their stockholders as possible. Explain why you agree or disagree with such a statement.
If the government uses a tax to get producers to internalize their externality, what is the net price received by producers.
A large school of sharks is reportedly seen by beach-goers at the beaches of Melbourne.
Assume that you own a 10-acre plot of land that you would like to rent out to wheat farmers.
The effectiveness of different kinds of incentive systems: moral, material, and coercive.
How can a compensation scheme designed to enhance worker motivation lead to this result.
If your employees are self-interested, how much output would you expect each individual worker to produce absent monitoring.
Explain how high must the deductible be to encourage low-risk behavior
Increasing the minimum wage will result in a decrease in employment for workers who now earn less than the new minimum wage.
A machine used to cereal boxes dispenses, on the average, ounces per box. What is the largest value.
In which of the following cases should the United States produce more noodles than it wants for its own use and trade some of those noodles to Italy in exchange for wine.
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