As a manager of a financial planning company you have two, Ask an Expert

Economics

supply and demand

PROBLEM 1:
As a manager of a financial planning business you have two financial planners, Phil and Francis. In an hour, Phil can produce either one financial statement or answer 10 phone calls, while Francis can either produce 3 financial statements or answer 12 phone calls. Does either person have an absolute advantage in producing both products? Should these two planners be self-sufficient (each producing statements and answering phones) or specialize? Be sure to show your work and the graph.

PROBLEM 2:
In this activity you will need to go to the realtor.com website. Follow the instructions for "Finding a Home", and check housing prices for a 3-bedroom, 2-bath house in several cities, for example, San Francisco, CA; Topeka, KS; Dallas, TX; Concord MA; and Seattle, WA. Explain why housing prices vary from city to city. Clearly explain how supply and demand affect the prices of the homes and be sure to show your work and graph.

View complete question

Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9213590

Have any Question?Write your Review or question?

Related Questions in Macroeconomics

Question use an internet search or the university library

Question: Use an internet search or the University Library to locate information on the Consumer Price Index (CPI). Internet sites you might find useful include the Bureau of Labor Statistics (BLS) and the Federal Reserv ...

Question -you have a full-time job but you decide to go to

Question - You have a full-time job but you decide to go to a college and be a full-time student. What is your total economic cost to be a full-time student? Provide and discuss two items of explicit cost and two items o ...

Question - recall that the long-run world oil demand

Question - Recall that the long-run world oil demand equation is Upper Q equals 41.6 minus 0.12 Upper PQ=41.6-0.12P and the long-run total oil supply equation is Upper Q equals 26.3 plus 0.071 Upper PQ=26.3+0.071P. The l ...

Question scenario imagine you are a business consultant to

Question: Scenario: Imagine you are a business consultant to a Business. You have been asked to analyze, advise, and create recommendations on how the firm can ensure its future success in its current market. Prepare a m ...

Question 1what is the current state of the us government

Question: 1. What is the current state of the U.S. government budget? 2. How do fiscal policy decisions made by the government impact the budget balance? 3. How do fiscal policy decisions made by the government impact th ...

Question - this question is to get some practice drawing

Question - This question is to get some practice drawing budget constraints. You are in your first semester at college and deciding to spend your income between textbooks and food. You have $360 for the month. Textbooks ...

Question - suppose the demand curve for a product is given

Question - Suppose the demand curve for a product is given by Q = 19 - 1P + 2Ps Where P is the price of the product and Ps is the price of a substitute good. The price of the substitute good is $2.40. Suppose P = 0.60. W ...

Question 1 graphically illustrate the minimum wage note

Question: 1) Graphically illustrate the minimum wage. Note the deadweight (welfare loss) loss and the loss or redistribution from job search. 2) Assume that you have two periods: 2011 and 2012 for a pickup truck. Price 2 ...

Question 1 suppose the marginal propensity to consume is 06

Question: 1. Suppose the marginal propensity to consume is 0.6, the marginal tax rate is 0.25, and the the marginal propensity to import is 0.2. What is the multiplier? 2. Suppose that in the economy described in the pre ...

Question - suppose an economy is described by the following

Question - Suppose an economy is described by the following aggregate demand and short-run aggregate supply curves. The potential level of output is $10 trillion. Aggregate Quantity of Goods and Services Price Level Dema ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Macroeconomics Expert