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1. Make up a story that involves a consumer (demander) making a decision to buy or not buy something based on tastes and preferences.
2. If you were producing eye glasses and knew that the price of plastic used to make the lens was going to go up dramatically in two weeks, what might you do?
3.Tell me about a time in your life when you noticed the weather impacting the supply of an item that you wanted to buy.
4. Because RIT required everyone to get a COVID booster shot, explain how this might impact the supply and demand of the booster vaccine in the Rochester area.
5. Make up a story that involves a consumer (demander) making a decision to buy or not buy something based on tastes and preferences.
6. When we talk about the Law of Demand or the Law of supply, part of the definition says "all other things constant" or "all other things remain the same". What does that mean?
You will be given a supply and demand diagram for a market that is associated with an externality. First, determine the market equilibrium price and quantity in the presence of the externality. Second, draw a new demand or supply curve that would int..
Shoshana Zuboff likes to reflect on some of the special students she taught at the Harvard Business School. Some students, she recalls
If this economy were an open economy with a flexible exchange rate, would the usual crowding out forces be supplemented or offset by forces from the international sector
Consider a firm facing conventional technology with U-shaped AVC and ATC and MC. The firm wants to maximize profits
Suppose option A has a higher variance than option B. Which of the following statements is, in general, true?
Jack is considering buying a gift card for Sue. Sue's utility is given by U(x,y) xy. She has $12 of her own and jack is considering a gift card for 150 units of x. The price of x is 2 and the price of y is 4. What is the maximum Jack can pay for the ..
In class we worked through the trade example where Home had a comparative advantage in cheese (alc /alw
Name 6 components that teachers can use to evaluate the complexity of authentic texts. Include specific guidelines and references tools. Add links to additional
The general level of wages in the U.S. and other industrially advanced countries is high relative to less developed countries because the demand for labor is high relative to its supply. Demand is high because of high labor productivity. Give 5 reaso..
Herbert spends all $50 of his pay check on food and shelter which each cost $5 per unit. What is the equation of his budget line?
Hemingway's Hot Dogs sell for $2.00 each. The hot dogs cost Hemingway $0.95 and commissions are $0.15 per hot dog. How many dogs must Hemingway sell if his fixed costs for the stand and rent are $3,500?
Jet.com is a Hoboken, NJ based start-up that calls itself the '...online version of Costco". Prior to starting their site in July, Jet had raised $225 million
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