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The demand for the product of a business is given by q = 50 - 2p. If the price of the product is p = 10 dollars, the revenue is
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Draw the PPFs for A and B when they work for 4 hours. What if the OC of shirt for A? What is the OC of shirt for B? What is the OC of cake for B? Who will export shirts? Why?
Suppose that the matching function is given by: M = em(Q, A) = eQ^(0.7)A^(0.3) Express pc and pf as functions of e and labor market tightness j. Suppose that z = 1, b = 0.4, e = 0.9 and k = 0.24. Suppose that w = 0.75 Find the unemployment rate in th..
Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or 10 computers. Explain at what price of computers (in terms of shirts) the two countries might trade.
Total cost of the production, as you already know is divided onto fixed and variable costs. Analyze different parts of the total cost (real life examples) and make your own conclusion, dividing them onto two main groups on one side those that belong ..
Boris budgets $9 weekly for his morning coffee with milk. He likes it if it is prepared with 4 parts coffee, 1 part milk. Smith likes cashews better than almonds and likes almond better than walnuts.
The demand curve for rutabagas is a straight line with slope 23 and the supply curve is a straight line with slope 2. Suppose that a new tax of $3 per sack of rutabagas is introduced.
A small consulting firm is only interested in hiring College graduates (denoted by S), but it does not know how many it should hire in order to be profit maximizing. Assume there is a competitive wage of $20 per hour and the production function is F(..
Economic theory offers ______ about the full range of possible events and responses, which can prevent _______ about how households will respond to changes in prices or incomes.
The structural engineering design section within the engineering department of a regional electrical utility corporation has developed several standard designs for a group of similar transmission line towers. The detailed design for each tower is bas..
Given this information, evaluate the following statement: Airlines could have the same effect on demand by eliminating their frequent flyer programs and simply lowering the average ticket price by 10 percent.
q.consider a competitive market with 9 consumers each of whom will buy at most one unit of the good and 8 vendors each
Suppose you are the CFO of a bank. Customers' deposits, on which you pay an interest rate of 5%, account for 90% of you loanable funds, and the rest 10% of the funds come from the federal funds market, where you can borrow funds at 8%. What is the b..
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