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In 2011, selected automobiles had an average cost of $16,000. The average cost of those same automobiles is now $20,000.
What was the rate of increase for these automobiles between the two time periods?
consider a hypothetical consumer richard who spends all his income on two food items pizzas and burritosa if richard
If the CPI was 110 last year and is 121 this year, what is this year's rate of inflation? What is the "rule of 70" How long would it take for the price level to double if inflation persisted at (a) 2, (b) 5, and (c) 10 percent per year
We have three variables, Information is 2000-2005. I use OLS to Determine the model and get a standard result.
a book store opens across the street from university book store (USB). The new store carries the same textbooks but offers them 20% lower than USB. if the cross-elasticity is estimated to be 1.5, and USB does not respond to it's competition.
only consume ice cream and bananas in the form of bananasplits, which i make with 3 scoops of ice cream and one banana. The price of ice cream is $.50 a scoop. Bananas are $.25 each. I have $5 dollars to spend on ice cream sundaes this week.
Consider an economy with the production function Y= L^(1/3) a) Derive the Labor demand Curve b) If Labor supply curve is L^s= (w/p) , calculate the equilibrium levels of real wage, labor and output.
Suppose you currently earn $23,000 a year. You are considering a job that will increase your lifetime earnings by $230,000 but that requires an MBA. The job will mean also attending business school for two years at an annual cost of $28,000.
Professor Moore forgets to set his alarm with a probability of .10. If he sets the alarm, it will wake him on time to make his first class with a probability of .95. If he forgets to set the alarm, he wakes up in time for his first class with a pr..
One hundred compressors of 200 H.P. rating are being considered for purchase by the state highway department. The consumer price index was 400 five years ago and is 520 today. The cost of 150 H.P. compressors bought five years ago is as follows
Confirm firm 1's optimal price depends on P2 according to P1=52.5+.25P2 (Set up profit expression of profit firm 1=(p1-30)Q1 =(P1-30)(75-P1+.5P2) and set Marginal Profit = 0 to solve for P1 in terms of P2.
For each of the following utility functions, find the marginal utilities (MUx and MUy) and the marginal rate of substitutional between x and y (MRSxy) and explain whether MRSxy is diminishing or not.
corporate profitability declined by 20 percent from 2008 to 2009. what performance percentage would you use to trigger executive bonuses for that year why what issues would arise with hiring and retaining the best manager
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