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Grade = (0.50 x hours spent studying) + (0.25 x class attendance) + (0.25 x prior GPA)
Suppose that the equation given above applies to you and that you currently study 2 hours per week and attend class on average 3 out of 3 possible hours per week. Your previous semester's GPA is 2.0. If you are intent on getting a 4.0, how many more hours per week do you need to study?
a.6.5
b.5.5
c.3.5
Suppose the demand function for a mineral (exhaustible resource) is given by pt = 700 - 0.2qt: Assuming that the marginal cost of extraction is constant and equal to $200 per unit extracted, and the discount rate (r) is 0:05. State the values of the ..
Let G be the number of television broadcasts each day. Consider 3 individuals with preferences UA =G/4 UB =2–G^(3/4) UC =G–(G^2)/2 a) Show that the 3 consumers have single-peaked preferences
With reference to output and substitution effects, explain why and how an increase in the wage rate of autoworkers willgenerate a negative employment response in the long run than in theshort run. Assume no changes in prices on non labour input and a..
The Federal Reserve attempts to keep prices stable and unemployment low. Is there are a contradiction in these objectives? Describe the monetary policy tools that are available to the Federal Reserve to achieve these objectives.
Elucidate the disadvantage of the simultaneous lending strategy. Be mindful of the group lending scheme which Grameen Bank adopts.
Other things being equal, the markup above marginal cost that a monopolist charges will be:
Consider two neighbouring island countries called Bertland and Ernamia. They each have 4 million labor hours available per week that they can use to produce wheat, clothing, or a combination of both. The table below shows the amount of wheat or cloth..
Calculate the present worth of the equipment described in question 4 given a 10% discount rate. An entrepreneur has found a way to turn straw into gold, but he needs $5 million to create the necessary machinery. He wants to earn a 25% rate of return ..
On the left show the market for potatoes and how the competitive market price for potatoes is determined by supply and demand. 2. Now act as if you are a potato farmer in the Midwest of the United States. Assume that due to an increase in the federal..
Assume that the price of 1 mile is $10 and the price of a unit of all other goods is $1.
Suppose that a biotech firm makes diagnostic tests and has a fixed-proportions production function in which one unit of output (diagnostic test) is produced using one worker and two units of capital (machines).
Using the midpoint method the price elasticity of Demand for a good is computed to be approximately
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