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Professional athletes command and receive higher salaries than teachers. Yet teachers, not athletes, are considered essential to economic growth and development. Why then do athletes receive higher salaries than teachers?
A purely competitive firm finds that the market price for its product is $30.00. It has a fixed cost of $100.00 and a variable cost of $17.50 per unit for the first 50 units and then $37.50 per unit for all successive units. Does price exceed aver..
Determine the economic impact on the client's financial situation. Based on your decision, determine the potential tax liability, keeping in mind appropriate IRS code and regulations.
Investigate the rules for recycling and solid waste disposal for a local community with which you are familiar. What are the incentives that increase the rate of reuse (r)?
explanation for why convergence across regions and states might be slow. [Hint: should we expect technology or capital to flow more rapidly across regions?]
Suppose nominal GDP in 1999 was $100 billion and in 2001 it was $260 billion. The general price index in 1999 was 100, and in 2001 it was 180. Between 1999 and 2001, the real GDP rose by what percent.What is the unemployment rate in the United Stat..
a firm produces according to the following production function: Q=k^.5L^.5 where q= units of output, k= units of capital, and L= units of labor. suppose that in the short run k=100. moreover, wage of labor is w=5 and price of the product
What are the typical ranges of drying shrinkage strain and creep strain in concrete; what is their significance? How are the two phenomena similar to each other?
A consumer has $100 to divide between purchasing wine and quiche. Suppose wine costs $10 per bottle if the consumer purchases up to 5 bottles. After that, it is $5 per bottle. Suppose quiche is $5 each. Please draw the budget line.
Suppose you make 30 annual investments in a fund that pays 5 percent compounded annually. If your first deposit is $7500 and each successive deposit is 5 percent greater than the preceeding deposit, how much will be in the fund immediately after t..
A building is priced at $125,000. If a down pament of $25,000 is made and a payment of $1,200 every month thereafter is required, how many months will it take to pay for the building. Interest is charged at a rate of 9% compounded monthly.
An immediate problem was that the Treasury didn't really know what most of these mortgages actually were worth (25 percent of their face value, 75 percent, or somewhere in between?), nor did it know the condition of all of these houses, some of wh..
Suppose Market Demand is given by Q=50-2P, Market Supply is given by Q=P-10. Now the government decides to impose a lump-sum unit tax on the producer. The amount of tax will be 3 dollars per unit.
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