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1a. Joy, who has an income of $40, can spend her income on 2 different goods, smoothies and energy bars. Energy bars cost $2 each, and smoothies cost $4 each. Draw her budget line.
1b. Can she buy 10 energy bars and 5 smoothies? Why or why not?
Please explain how to calculate marginal product of labor, fixed cost, variable cost, total cost, and marginal cost for the following example
Marty produces frozen yogurt using fixed and variable inputs. Plabour = $80 per unit per day. Fixed cost = $100 per day
Quantity of Labor Quantity of frozen yogurt
0 0
1 110
2 200
3 270
4 300
5 320
6 330
q1. if consumption increases by 12 billion when real disposable income increases by 15 billion what is the value of the
Does convergence property imply that a measure of dispersion of income per person across the economies will narrow over time? Absolute convergence held for US sates from 1880 to 2000. A measure of the dispersion of per capita income across the states..
We talked in class about free trade areas, customs unions and common markets. We also discussed basic principles of the WTO, including trade should not be discriminatory and should head in the direction of fewer rather than more barriers. If there ar..
What are the various ways a company can calculate cash flow? What are we interested in understanding a companies cash flow? 2. Let's discuss yield to maturity. What is it and why do we want or need to know the yield to maturity for a bond for example..
Why should a government be concerned with the pricing of products that a company transfers to an affiliate in another country? Please explain in terms of taxation and exchange rates.
Demonstrate by example about production which exhibits constant returns to scale.
Indentify one group that would benefit from deflation and that would lose. explain why each group would gain or lose from deflation.
Your dental clinic provides 3,000 exams for private pay patients and 1,000 exams for members of a union. Your fixed costs are $50,000 and your incremental cost is $40. Private pay patients have a price elasticity of demand of -3. What do you charge t..
If John could have earned interest at rate j per annum compounded semiannually for the entire eight years, his balance would have been $ 2318.5.
Which nation has comparative advantage in wheat production? In cotton production. Which nation has absolute advantage in wheat production.
The economic principle that consumers are willing to consume more of a good when price is low is depicted by the:
Carbon tax: Suppose the government imposes a carbon tax on oil production. Will this affect the supply or the demand for gasoline? Why? Which determinant of demand or supply is being affected?
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