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Suppose that you observe that the total utility rises as more of an item is consumed. What can you say for certain about marginal utility? Can you say for sure that it is rising or falling or that it is positive or negative?
If the United States and Russia were the only two countries engage in trade, what adjustments would you predict, assuming exchange rates are freely determined by the laws of supply and demand?
Consider the allocation of a delectable resource over two periods. There are Qbar=4 units of the stock available. The total benefits derived from using the resource are defined as TBt= 20qt- (1/2qt^2) and the total cost of extracting the resource is ..
Suppose there is unexpected frost weather in the sunflower area and government decided to purchase some sunflower. How will the new supply-demand graph for sunflower look like? What will happen to the price and the quantity sold?
What will be the complete and final impact on the GDP if the Federal government increases spending and simultaneously increases taxes to pay for the additional spending?
Xaquane and Yullare are obscure but talented 18th century painters. The world’s stock of Xaquanes is 100 and the world’s stock of Yullares is 70. The demand for each painter’s work depends on its own price and the price of the other painter’s work. W..
q.suppose you elasticity of demand for your parking lot spaces are -0.5 and price is 20 per day. if your mc is zero
A small-volume foreign auto maker limits the number of its franchised dealers in the United States and gives them exclusive territories. There are also non-dealers who have no official connection with the manufacturer.
Briefly state and justify your position on each of the following proposals: a) Women and minorities should be paid the same wage as white males, provided the work is comparable. b) The United States should close its boundaries to all immigration. c) ..
According to the article "Homophobia as a Weapon of Sexism," by Suzanne Pharr, which statement is false? The Declaration of Sentiments and Resolution at the Seneca Falls Convention in 1843 was a short but powerful document that focused primarily on i..
If the natural rate of unemployment is 4 percent and the actual rate of unemployment is 5 percent, Okun's law states that the output gap is ________ and the economy is in a(n) ________.
Illustrate why does inflation affect the increase in Social Security and other benefits. Is this effect a cost of inflation, as the article suggests.
Consider a new per-worker employment tax on workers (where previously there was no tax). Outline the consequences of this tax on the local labor market. Use appropriate, clear, and well-labeled diagrams. In your answer show (1) the burden of the tax ..
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