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Suppose there is a soda tax to curb obesity. What should a reduction in the soda tax do to the supply of sodas and to the equilibrium price and quantity? Can you show this graphically?
An unusually cold winter will mean consumers will demand more wool sweaters. What will happen to the demand curve? What will happen to the supply curve? What will happen to the equilibrium price? What will happen to the quantity sold?
Describe how Kristallnacht represented a logical extension of the anti Jewish, prejudicial thinking that was incorporated into the Nuremberg Laws. Holocaust
Consider a duopoly facing an (inverse) market demand of p = 300 − 3Q. Firms produce a homogenous good at a constant marginal cost MC = 100. Find the best response (or reaction function) of each firm. Illustrate the two curves on a graph. Find the Cou..
Let’s say the current administration decides to make a college education more affordable, so they establish a price ceiling of $50 per credit hour for community colleges, $75 per credit hour for four year institutions, and $100 per credit hour for gr..
Assume that labor supply and labor demand are described by the following equation -labor supply: L=5w -labor demand: L=110-0.5w where w=wage expressed in dollars per hour, and L(s) and L(d) are expressed in millions of workers. find the equilibrium w..
what happens to the amount of debt held by the public. What would happens to the level of gross debt.
What kind of OD assignment (e.g., Learning Activity, research-writing assignment, manageable field-based project, Prezi presentation)
A competitive market is made up of 100 identical firms. Each firm has a short-run marginal cost function as follows: MC 0.5Q where Q represents units of output per unit of time. Determine the market short-run supply curve. Calculate the price that wo..
Two university graduates, Bill and Steve, worked for an advertising agency at an annual salary of $40,000 each for 3 years after they graduated. Then, they decided to quit their jobs and start a partnership that designs and builds Web sites. What is ..
Suppose a firm has market power and faces a downward sloping demand curve for its product, and its marginal cost curve is upward sloping. If the firm reduces its price, then:
Describe the effect of consumer expectation of a future price fall on the demand of a commodity.
Question 1: What is the difference(s), if any, between the unemployment rate and the natural rate of unemployment? Discuss.
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