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1. For this assignment, please complete the assigned readings for this unit.
2. In a Microsoft Word document, on one page, please respond to the following short-answer questions:
3. Your responses should be written in APA style with appropriate references and bibliography.
Advantages and disadvantages of cigarette money in this prison economy in terms of these 6 criteria.
A government program guarantees $18,000 in income, even for those who do not work at all. If the recipient earns income by working, then the $18,000 benefit is reduced by 50 cents for each $1 earned. Will this program eliminate the poverty trap?
A price discriminating firm has two groups of customers. If the elasticity of demand for group 1 is -2, the elasticity of demand for group 2 is -4, and the price paid by group 1 is $15, the price for group 2 is _____.
Suppose a consumer's level of satisfaction is given by AB2 and he/she has a total of $10 to spend on goods A and B. If the price of A is $1 and the price of B is $2, and assuming you can only purchase whole units (not fractional) of A and B, how many..
Monster Conglomerate Inc (MCI) manufactures paper clips for the Pentagon. At its current capital stock it produces paper clips with the production function: y = 8.5L-0.5L2 where L is the number of workers employed. What happens to MC Inc.’s labor dem..
illustrate what fee customers were willing to pay for expedited payments, the bank conducted a survey. It was able to determine that many of the people surveyed already paid fees for expedited payment services.
Two firms are ordered by the federal government to reduce their pollution levels. Firm A's marginal costs associated with pollution reduction are MC = 30 + 6Q. Firm B's marginal costs associated with pollution reduction are MC = 24 + 12Q.
Which model can show both unemployment and inflation occurring at the same time?
Suppose that County A has a money demand function given by Md= 50 + 2Y - 5r, while Country B has a money demand function given by Md = 50 + 2Y -25r. From this, we can conclude that
Construct a PPF for a country that produces food and video games and faces increasing opportunity costs. Show how the PPF changes given the following events.
Explain the effects of a tax on consumer and producer surplus. Explain what happens to total welfare when government levies a per-unit tax on a good. Use the concept of deadweight loss in your explanation.
With reference to the theories of Baumol and Schumpeter, and the activities of one or more real world entrepreneurs during the last decade, explain how entrepreneurship can be either productive or unproductive (/destructive)
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