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Q1. Sally's firm produces granola bars with a fixed cost of 10 (this cost is already sunk). Her variable cost function is VC = q2 + 2q. Assuming the market for granola bars is competitive, derive Sally's supply function? What is Sally's surplus if the market price is 6? What is her profit? Does she want to stay in this market? Explain.
Q2. What is a one invention that had good impact on the international economy and why. What were the impacts of this invention? Were impact good or bad?
Willie will receive all his operating expenses, and in addition will receive $2,000 each year for the decline in value of the automobile.
The Road Runner Club contributes money to Senator Sly's reelection campaign fund, and Senator Sly helps pass legislation to add more jogging paths across the state
Elucidate the marginal revenue from the fourth worker
Representatives were to logroll (trade votes) to get their preferred policy to pass, what would be the result. What are the total benefits from each project.
Use indifference curves to distinguish between income and substitution effects, using the above techniques explain why the demand curve slope downwards, What are the main criteria for designing a tax system, To what extent do you think the national..
Select the most serious disadvantage of globalization (in your opinion) and make at least one recommendation
In an effort to provide tax relief for households while still balancing the budget, Congress votes to raise business taxes and decrease personal taxes.
How can two countries both be better off as a result of trade? How can tariffs protect U.S. jobs? Do tariffs lead to a net increase in jobs?
Calculate the price elasticity of demand for Newton's Donuts
The government wants to increase real GDP demanded to $15 trillion at the given price level
Calculate whole expected convenience from each restaurant option and also compare?
Numerous times in the lectures labelling the vertical axis as euro per $ and the initial supply and demand curves labelled with 12/07, Label this initial point as point A.
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