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In early 2010, the U.S. government offered an $8,000 subsidy to new homebuyers. What effect does a perhouse subsidy have on the equilibrium price and quantity of the housing market? What is the incidence of the subsidy on buyers? Hint: A subsidy is a negative tax.
Jesse sells 400 candles per month at an average price of $5 per candle. Costs of supplies to produce and sell the candles are $500. Rather than producing and selling candles, Jesse could be working at a second job earning $800 per month.
Would you like to be led by a "coach" as these organizations define it? What would be some advantages and disadvantages of viewing leaders this way?
a chemical engineer is considering two styles of pipes for moving distillate from a refinery to the tank farm. a small
Let ρ2 represent the true population coefficient of correlation. Suppose you want to test the hypothesis that ρ2 = 0. Verbally explain how you would test this hypothesis.
How does a minimum wage imposed under monopsony differ in results as compared with a minimum wage imposed under perfect competition? (Assume the minimum wage is above the market-determined wage.)
What will happen to demand for labor? Will it increase or decrease? What are the new equilibrium wage rate and employment level?
Below are hypothetical data for the economy in a particular year. There is no statistical discrepancy.Export 179Capital consumption allowances 79 Government current purchases of G & S 134 Indirect taxes (less subsidies) 76Wages, salaries, supplementa..
Suppose that 3 countries who form a cartel agreed to divide the oil market equally. Demand for oil is given by P=50-.1Q where P is the price of oil in dollars per barrel and Q is the Quantity in thousands of barrels per day.
Compare the degree of redistribution each suggests.
Various computer manufacturers produce homogenous computers. Cost of production per computer is equal to $1000 + PM where the $1000 captures other computer component costs, such as the microprocessor, monitor, etc.
Suppose you have $7,000 in savings when the price level index is at 100.( a ) If inflation pushes the price level up by 10 percent, what will be the real value of your savings ( b ) What is the real value of your savings if the price level declines b..
A Lathe was purchased on January 1, 2006 for $35,000 with an expected life of five years. The original salvage value was estimated to be $6,000 at the end of five years. MARR for this company is 8%.
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