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Problem
1. Q = AL3 + BL2, where Q is output rate and L is labor input.
Why it has to be a cubic function? Why there is no constant (intercept) in the function? Explain briefly in your own words.
2. Is the online retail (e.g. Amazon) qualified as a perfectly competitive market by the four market characters listed in the lecture note? If not, which character(s) is (are) not qualified? Discuss it briefly.
What is the value of producer surplus when the monopolist practices first degree price discrimination? What are the perfect price discriminator's profits
Let us suppose that a hospital wants to set their fees for an overnight stay such that the contribution margin on a hospital room will be 35%.
Determine the performance of the hospital industry
1. Bill Gates argue that world poverty as we know it can be ended by 2020. What myths has the work of his foundation debunked and can what he has learned work here at home?
Orange juice and apple juice are known to be perfect substitutes. Draw the appropriate price-consumption curve (for a variable price of orange juice) and income-consumption curve.
Part of what determines the quality of the article is its source. The following are suggested: Ad Week, Advertising Age, Bloomberg Business Week, Crain's regional publications, Entrepreneur, Forbes, Fortune, Harvard Business Review, Inc.
“Comparative advantage will benefit all people because everyone has a comparative advantage in something. Therefore, trade based on comparative advantage should be facilitated without undue government intervention”
A study has estimated the effect in interest rates and consumer confidence on the demand for money to be: ln M = 14.666 + .021 ln C - 0.036 ln r, where M denotes real money balances, C is an index of consumer confidence, and r is the interest rate pa..
Consider an organization you are familiar with. Identify the economic factor that has had the most impact on the organization's earnings in the past 5 years.
Think a competitive industry consisting of one hundred identical firms each with the following cost schedule,
There is no paradox of savings (of thrift) in the medium run. Even in a liquidity trap, wage and price deflation will stimulate production and therefore real income
A uniform price auction is an auction where all the goods sold through the auction (or units of the good) are sold at the same price.
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