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In the field of education, in obvious quantitative measure of teacher productivity would be number of students in a class. But is there a point at which the increase in class size interferes with learning? Moreover, what about such qualitative measures as the performance of the students in the subject being taught?
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 110 - 0.25P, and the marginal cost of production is $160. Determine the optimal number of units to put i..
Explain which of the following items in each pair is more price elastic. The demand for a specific brand of toothpaste and the demand for toothpaste in general. The demand for gasoline in the short run and the demand for gasoline in the long run.
Consider a perfectly competitive firm whose minimum average total cost is $100. This firm is representative of all the firms in the market. If the market price is $80, then in the long run. market supply will fall. new, more-efficient firms will be a..
Since under a fixed exchange rate system the exchange rate does not change, does this mean that the BP curve never shifts? Why or why not? If it in fact does shift, what effects do such movements have on the equilibrium interest rate and equilibrium ..
A downward sloping demand curve tells us
Here's some background info. A company's duty to operate honorably, provide good working conditions for employees, be a good steward of the environment, and actively work to better the quality of life in the local communities where it operates and in..
Data collected in the imaginary economy of kharkeez reveals that when the price of drof decreased by 25%, the quantity of drof sold increased by 10%, and the quantity of perf demanded decreased by 30% What is the cross-price elasticity of demand bet..
The United States and Canada want to work together to reduce air pollution near Niagara Falls (which is on the border between the two countries). One proposal is for the countries to reduce pollution by 100 tons each. Find the cost to the United Stat..
Which of the following changes would lead to a change in production function? More Machines, better ideas, savings rate, output, depreciation rate? More than one choice can be chosen.
What would you learn about an economy if you determined that its GNP was growing more quickly than its GDP?
Based on this information, discuss industry concentration, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain
Suppose that market demand for golf balls is described by Q = 90 - 3P, where Q is measured in kilos of balls. There are two firms that supply the market. Each firm has a constant unit cost of 10. Suppose the firms compete in quantities. How much does..
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