Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Suppose two people, Mary and John each live in an isolated region. They each have the same resources availabe and they grow corn and raise pigs. Mary devotes all her resources to growing corn, which she raises 200 pounds of corn per year. Which she also raises pigs 50 pigs per year. John devotes all his resources to growing corn which he raises 80 pounds of corn per year. John also raises pigs, 40 pigs per year. What is Mary's opportunity cost of producing corn? What is Mary's opportunity cost of producing pigs? What is John's opportunity cost of producing corn? What is John's opportunity cost of producing pigs? Which person has a absolute advantage in both activities? Which person has comparative advantage in corn? Which person has compartative advantage in pigs? Suppose that they are thinking of specializing completely in the area in which they have a compartive advantage, and then trading at a rate of 2.5 pounds of corn for 1 pig, would they each be better off?
Assume after 10 years real consumer spending doubles to 100. Explain how much do you believe will be the budget share of leisure.
Compute the coefficient of price-elasticity of supply for the seven prices ranges given above and complete the table.
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and P x = $5, P y = $10, X = 20, and M = 500?
If the apple grower wants to see 6,000 bees kept, what is the value of the externality? What would have to happen for the socially optimal amount of bees to be kept?
Suppose if there were no tax profits and behavior is governed through rational self interest, would people give to charitable institutions? use economic principles to describe.
Explain the multiplier intuitively. Why is that an increase in planned investment of $100 raises equilibrium output by more than $100 Why is the effect on equilibrium output finite How do we know that the multiplier is 1/MPS
Brand names can be important to the success of a firm in some industries. Consider industries that demonstrate monopoly, monopolistic competition, oligopoly, and perfect competition. What is the goal of creating a brand name for each of these mark..
Evaluate: "The fact that some airplanes collide is evidence there is 'too little air traffic control'." (Be sure to explain what too little might mean.)
What is the value of the marginal propensity to consume and calculate the equilibrium level of GDP - what is the value of the government purchase multiplier?
Illustrate the price elasticity of demand at the equilibrium price and quantity.What is the price elasticity of supply at the equilibrium price and quantity.
Illustrate what price is required to maximize income but keep profits at a minimum of $300?
What are the four phases of a business cycle? How does money supply affect business cycles? What is the relationship between money supply growth and inflation? What is monetary policy? What is fiscal policy? What is the foreign exchange market?
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd