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The willingness to pay of four buyers are as follows: Mike $50, Sandy $30, Jonathan $20 and Haley $10. If the price of the product is $30, what is the total consumer surplus?
The Sharing Economy 1) Discuss the pros and cons of this disruptive business model. Is it good for job creation? Use a specific example(s) to support your answer. 2) Identify a market segment where you feel "collaborative consumption" is likely to be..
Using the above information what happened to the percentage of the Belgium economy that is involved in exports? What does this mean in terms of specialization
Let's assume you've already completed the input optimization and found your company's cost function as follows: C(Y)=Y^2 + 3Y. Write down the firm's profit function. Suppose that P=$9. Find Y* and show that at this level of output, marginal revenue i..
Identify one positive or negative supply shock in the last decade and what is the impact that the shock has had in our economy.
Draw a budget constraint and an indifference curve for an individual who works in period one and is retired (earns no income) in period two. He consumes some of his income in period 1 and saves the rest of his income for period 2. Place consumption i..
A recent report on GDP growth rates showed that the GDP of Dorada, a developed economy, has declined this year. Emily George and her friend Tabitha, Jude, both students of economics, are discussing the possible reasons for the decline in the growth r..
Identify a company that you successfully creates shared value, and explain how they do it. Cite any sources in APA format.
An entrepreneur took a one-month leave of absence. Elucidate how many units did she have to sell To facilitate turn a profit
Mr. Dilatoriness has a PhD in economics, but is happily unemployed; he spends most of his time reading classical literature, art and philosophy. He gets $ 3000 a week from his parents. Explain the concept of a reservation wage? Under what circumstanc..
Explain how the optimal usage of the variable input, labor, will change in response to the following changes in the short-run: A) A drop in the price of the good or service that the firm sells B) A drop in the hourly wage C) A decline in the producti..
What changes in the organization and activities of the Federal Reserve Board would you suggest to improve its operations? Should the Fed be more or less powerful? Which of the monetary policy tools -- Open Market Operations, Discount Policy and Reser..
Based on the information on the previous graph, you can tell that ______ (one, two, three, four or five) consumers will buy Blu-ray players at the given market price, and total consumer surplus in this market will be ________ $?
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