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Draw a graph showing a firm in long run monopolistically competitive equilibrium. Label everything clearly. Can a firm under monopolistic competition make economic profits in the long run? Why or why not? Explain.
You are standing in line. Think about what you would be doing if you are not in this line. The alternatives are infinite and computing the cost of them all is impossible. However, since you could only be doing one thing (not all of them) if you are n..
Economists assume that firms seek to
Suppose that in a perfetly competitive market, the demand curve is given by P=100-Q, the supply curve is given by P=Q, and that the social demand curve is given by P=80-Q. In a single graph, represent the demand curve, as well as the supply and socia..
In the summer of 1972, due to extensive crop failure in the (former) Soviet Union, Russia spent over $1 billion to purchase American wheat. Since the American crop had been completely harvested when the Russian deal was made, American farmers were un..
Discuss the use of a VLOOKUP (or HLOOKUP) and compare it to nesting IF statements. What are the considerations concerning the data? When is one preferred over the other? What is the purpose of the range lookup parameter? VLOOKUP (lookup_value, tab..
Given this distribution of income tax payments, would you support this type of policy? Why or why not?
The number of hours you study for an exam and your exam score. The price of pizza and the quantity purchased. The number of games the university basketball team won last year and the number of season tickets sold this year.
Suppose re are 300 of young in some period t. n, how many good are paid to government for tax in this period. In period t, how many good can each old person get and consume.
A year of unusually bad weather for agriculture would:
Public health information can be broadcast at a cost of $100. Public health information is a pure public good, in that many people can use the information simultaneously and preventing people from using the information is very difficult. What are the..
Which mathematical form of model (linear, semi-log or double log) would be appropriate for estimating each of the following? The rate of return from holding a bottle of wine for a year. The price elasticity of demand for squirrel fur.
Consider a country in which Y = 200 K2/5N 3/5. Assume in this country they save 20% of their income, population grows at 3% per year, and depreciation of capital occurs at 10% per year. Use the Solow model. Compare the effectiveness of i) a 50% incre..
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