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Q. In 2005, Bob's Burgers charged $1.50 for a quarter-pound hamburger with all the fixin's, and sold 7,500 of them. In 2006, although Bob raised the price to $1.75, sales of quarter-pound burgers rose to 8,200. Discuss why this does not represent a violation of the law of demand.
Q. The number of parts produced per hour by a worker is given by N=4+3t^2-t^3 where t is the number of hours on the job without a break. If the worker starts at 7 A.M., when will she be at a maximum productivity?
Carefully explain how these two deficits are related economically so that changes in one are reflected in changes in the other.
Illustrate what can you conclude about the structure of the industry in which this firm is operating.
What is the confidence interval for the proportion of households represented at a town meeting. Survey of households in a small town showed that in 850 of 1,200 sampled households.
Suppose that there are freezing temperatures in Florida. At the same time the press reports that drinking orange juice significantly reduces the risk of stomach cancer. Predict the effect on equilibrium price and quantity.
Write out the payoff matrix for this game, and then find its Nash equilibrium.
Illustrate what is the probability that this worker is a college graduate. A non-college graduate. Are educational achievement and employment states independent
Illustrate what do you think would occur when there is little or no competition is a marketplace
Does aggregate accounting enable us to measure also analyze how much a nation is producing also consuming.
illustrate what is the real GDP in every yr, given which the price index has risen from 100 to 104.5 in the 1st yr also up to 108.3 in the 2nd yr.
Illustrate what is the GDP of George's also John's island in terms of clamshells.
Elucidate how can you derive an equation describing labor demand in this economy as a function of the real wage also capital stock.
Suppose taxes are measured in cents as in the first case, but consumption is measured as gallons consumed every month.
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