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Two partners who own Progressive Business Solutions, which currently operates out of an office in a small town near Boston, just discovered a vacancy in an office building in downtown Boston. One of the partners favors moving downtown because she believes the additional business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move. The other partner at PBS opposes moving downtown. He argues, "We have already paid for the office stationery, business cards, and a large sign that cannot be moved or sold. We have spent so much on our current office that we can't afford to waste this money by moving now." Evaluate the second partner's advice not to move downtown. Illustrate and fully explain using an example of relevant cost (a cost whose value does affect the optimal decision) and an example of irrelevant cost (a cost whose value does not affect the optimal decision) to the business regarding this decision.
The supply is simply the sum of the marginal cost curves of all the firms in the industry. Suppose that all the competitive firms collude to form one single monopoly firm. (Collusion changes neith the demand nor the cost conditions in the industry..
suppose that the disposal firm's state passes a law that limits waste disposal to 50,000 cubic feet per year, as a response to the monopolist's deadweight loss. Please calculate the change in the monopolist's deadweight loss.
Advances in telecommunications and information technology revolutionize the way Ms. Aura does business. She begins to use the Internet to nd all relevant information about clients and meets many clients through teleconferencing. The new technol..
Carefully describe and show graphically how each of following changes would effect the shape of the IS curve:
In 2005, The economist reported that France's real exchange rate had increased relative to Germany's real exchange rate during the preceding two years. How can this be true if both France and Germany used the euro as their currency.
Early in 2007, a survey of greenhouses indicated that the demand for houseplants was rising sharply. AT the same time, large numbers of low price producers started growing plants for sale. The overall result was a drop in the average price of hou..
Explain why would you expect inflation rate to increase if the actual unemployment rate refused to a level lower than the "full employment" unemployment rate.
marketplace labor demand is typically more elastic in absolute value than market labor supply. A person who has a substitution effect that dominates his income effect will increase hours worked when an income tax is imposed.
Plot aggregate demand and long run aggregate supply curves. Show aggregate demand schedule.
A change in the real money supply can result either from a change in the nominal money supply though Federal Reserve policy (holding the price level constant) or from a change in the price level (holding the nominal money supply constant).
1. an anticipated change is an economic occurrence thatnbspnbsp a.nbspnbspnbsp catches most people by surprise.nbspnbsp
Illustrate what would be the consumer purchasing response to Coca-Cola if the price of Pepsi doubled.
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