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One popular voting scheme is rank order voting, where persons assign a rank (1,2,3) to the possible options; the assigned ranks are then added up and alternative with lowest sum wins. Consider a choice among the four alternatives (a library, a ski slope, a swimming pool and a garbage dump)
Compute the total revenue and total economic profit at each level of output. Compute the pizza shop's marginal costs and marginal revenue level of output. What is the profit maximizing rate of output for pizza shop?
Suppose your corporation operates in MS Delta and imported inputs are used in final product. The final item is then exported to the rest of the world.
Outdoor Sports Corporation, with its main office in Iowa, is considering opening a branch office in Los Angeles. Under normal economic conditions, which have a 45 percent chance of occurring,
Compute the total cost of providing this insured service to the plan before and after the change in coverage.
A perfectly competitive market company realizes an average of $11 and an average total cost of $10.00. Marginal cost curve crosses marginal revenue curve at an output level of 100 units.
You are the manager of College Computers, a manufacturer of customized computers that meet the specifications required by the local university.
Illustrate what is the adjustment mechanism under a flexible exchange rate regime. Illustrate and explain which curve(s) will shift during the adjustment.
explain how much will real GDP change. Explain how the concept of comparative advantage was relevant to the trade negotiations.
Explain why do economists attempting to forecast short run future changes in real GDP and employment look closely at data on business inventories and unfilled orders.
A Federal Reserve Bank has recruited the economic consulting firm to prepare a paper on how the use of money has changed over the past 20 years.
Suppose an economy with constant state unemployment. the separation rate is 2.5 percent per month and the finding rate is 47.5 percent per month.
Due to severe damage, a gas pipeline supplying gas to Arizona was shut down for some weeks in summer of 2003. Gas became scarce in Arizona, and prices increase,
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