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Question: The Covid-19 pandemic has largely passed, but much uncertainty existed during 2021-2022, when vaccines were being rolled out. In retrospect, what could have been done differently and better in dealing with Covid-19 -- particularly, for the developing world (amid allegations of vaccine nationalism)?
The course text and lesson for this unit discusses strategies that local governments and cities employ to promote economic development. Prominent strategies.
Diminishing Marginal Utility per Dollar is an extension of Marginal Utility. Explain what may make the extra cost worth it to some people, but not to others.
Bob s spends all his money on candy apples and magic. Make sure to draw and label where all intercepts and kink points occur.
A firm has a fixed production cost of $5000 and a constant marginal cost of production of $500 per unit produced. What is the firm's total cost function? Average cost?
If income decreased, how would Demand and Quantity Demanded change for an inferior good
A firm with the production function Q(K,L)=2 (K^(1/2))(L^(1/2))
Your clumsy accountant spilled coffee on an important document this morning. What is the marginal cost of producing the first unit of output?
Most wholesalers post a "suggested retail price" on packages, which in turn are sold by retailers. Is there an economic basis for the suggested retail price?
Demonstrate your ability to find microeconomic data from public sources and to make a spreadsheet in Excel.
The total amount of income earned by U.S. resource suppliers in a year, plus taxes on production and imports, is measured by gross domestic product.
Compute the industry price necessary for firm to supply 10,000, 20,000, and 30,000 pounds. Compute the quantity supplied by the firm at industry prices of $1.50, $2.50, and $3.50 per pound.
ConsiderTable 632 in the 2008 U.S. Statistical Abstract.
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