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Multiple Question: You work as an Assistant coach on the university basketball team and earn $12 per hour. One day you decide to skip the hour- long practice and go to the street fair instead, which has an admission fee of $7.
The opportunity cost of skipping practice and going to fair, valued in dollars, is?
Suppose that at the equilibrium price and quantity, the marginal revenue is -$36 and the price elasticity of demand for a linear demand function is -0.67 Then we know that the equilibrium price is:
A function with two required and two defaulted parameters. A function with two parameters passed by value and two parameters passed by reference.
Where do you think the rest of the monetary base is (from money supply), and under what conditions might it return to the banking system?
What is different between relative volatility and absolute volatility in option?
a. Describe 3 secure systems that a bank would have and state why they need to be secure.
A local department store offers 24-month financing for a certain $1,000 appliance at an “interest rate of 9% per year”. What is the effective annual interest rate a customer would actually pay for this financing? What is the nominal annual interest r..
What is the externality associated with an individual driving on a congested highway? How do tolls help alleviate this externality? How should tolls be set? (Hint: Would you always want the toll to be the same all day?)
What role does elasticity have on decisions made in the market? How does the availability of substitutes affect the price elasticity of demand? Explain using examples from your experiences.
There are many who propose that the west should ‘forgive’ the debt of under-developed nations, including some celebrities, some politicians, and even some economists. Find at least one article that makes the argument that these debts should be forgiv..
Discuss how supply and demand would be affected under each of the four degrees of competition (pure competition, monopolistic competition, oligopoly, and monopoly). Give specific examples to support your response.
When the incidence analysis of a tax increase incorporates the assumption of an offsetting decrease in another tax, we call the analysis
Suppose that there is limited commitment in the credit market, but lenders are uncertain about the value of collateral. Each consumer has a quantity of collateral H, but from the point of view of lender, there is a probability a that the collateral w..
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