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Think about an item that you are interested in purchasing. Perhaps it is a new computer, an MP3 player, a new book, or a new bike. Now think of an alternative product that you are also interested in purchasing. Search the web and find out what each of these items costs. Then create your own decision-making grid similar to the one in the previous screen. When you have completed your grid, explain in at least one well-developed paragraph which item you have chosen to buy and why. Submit both your grid and your paragraph for grading.
NY state will soon implement a $15/hour minimum wage for fast food workers. What is your prediction of the short run effects of this policy? What is your prediction of the long run effects?
Explain the effects of rent control in the stock-flow model of the housing market. Can we determine the profit maximizing quantity and price in an oligopoly? What is the current economic issue about China? What are the important factors of economic g..
In addition to the hard-drive-based Ipod, Apple produces a flash-based audio player. Its 512MB iPod Shuffle (which does not have a hard drive) sold for $99 in 2005. According to iSuppli, Apple's per unit cost of manufacturing the Shuffle was $45.37. ..
Certain environmental laws prohibit EPA from considering the costs of meeting various standards when the levels of the standards are set. Is this a good example of “putting first things first” or simply an unjustifiable waste of resources? Why?
In many states, including Florida, it is illegal to engage in price gouging. Florida’s law penalizes a seller for any “gross disparity between the quoted price of a ‘necessity item’ such as water, and the item’s price on the date that the governor de..
What are examples of firms in an oligopolistic market that abuse their power? Explain how they abuse their power and describe the impact on consumers.
Write-down your own, or an imaginary person’s balance sheet. It should include assets (textbooks, etc.) and liabilities (student loans of at least $100, Money you owe to a friend, etc.). Don't forget to include net worth. [No need to write a long bal..
About 32% of all the laptop computers sold in an electronics store have hard disks made by Western Digital, i.e., equation. In a specific shipment, a total of equation laptop computers are received. Treat these 15 laptop computers as a random sample ..
The impact on this monetary aggregate of extensive monetary aggregate of extensive financial innovation - the changes in the kinds of deposits and services offered by banks- led the central bank to drop M1 as an intermediate target. What impact would..
q.joseph jones a manager at computer science inc. csi received 10000 shares of company stock as part of his
Consider a production function as Y=axb and Variable Cost function (VC) = vx. Give the inverse function of the production function and define the parameter b in the production function. Calculate the Marginal cost.
Suppose that an excise tale of $1 is placed on sellers in a market for widgets. Using diagrams indicate whether none, some, or all of the tax is passed on to the consumer in the form of a higher price for each case described below. Demand curve is ho..
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