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Critical Thinking: Consider a class of 25 Microeconomics students, some of whom are confused about a concept after a professor explains it. A student who reveals his confusion by asking a question loses 10 utile. However, when the professor clarifies the concept, each confused student benefits 2 utile.
At what level of confusion (number of confused students) is a question from a confused student socially efficient?
Without participation incentives, will a confused student ask a question when it would be socially efficient? How will they know it is socially efficient?
How would you design an incentive system to generate questions from confused students?
Calculate the percentage change in nominal GDP, real GDP and the GDP deflator in 2009 and 2010 from the preceding year. For each year, identify the variable that does not change. Explain in words why your answer makes sense.
We know that the optimal consumption point is where the Indifference Curve is tangent to the budget constraint (i.e., MRS=Relative Price). Why are points along an indifference curve that intersect the budget constraint less than optimal?
Customers arrive at an automated coffee vending machine at a rate of 4/min, following a Poisson distribution.
Walras Equilibrium with two consumers and two commodities, given endowments and preferences for both consumers.
In Managerial Economics, Applications, Strategy, and Tactics, if contract promises were not excused because of acts of war, would the clearing and settlements clients of Bank of New York change their behaviour
Assume that a Pfizer has a linear demand curve for Lipitor, a constant marginal cost curve (i.e. the marginal cost is a constant), and is a monopolist in this market.
What would happen to the demand curve if the major taxi companies lowered their prices? If you were asked to forecast future demand for this firm, how would you set up a forecasting model?
q. many small boats are made of fiberglass which is derived from crude oil. assume the cost of oil risesa. using
Explain how would the competitive balance in the American and National Leagues change if baseball owners forced the Yankees to move to Albuquerque, New Mexico.
Illustrate what is the gain in consumer's surplus for ABC fan that can get these sweaters at Target instead of at the ABC.
The market supply curve slopes upward because:
What is the expected profit of simultaneously pursuing both programs.
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