Ask Question, Ask an Expert


Ask Microeconomics Expert

In 2003, a seat on the Chicago Board of Trade (CBOT) sold for only $338,000, compared to $2.0 million for on the New York Stock Exchange (NYSE). In January 2005, however, a CBOT seat was sold for $1.25 million, while a NYSE seat sold for $975,000. First, describe why anyone would pay a positive price for a CBOT or NYSE seat and what this price represents. Second, describe why the seat values have changed so much in recent months.

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M946178

Have any Question? 

Related Questions in Microeconomics

Suppose the consumerworker values two things a consumption

Suppose the consumer/worker values two things: a consumption good C and leisure L. Suppose that there are 24 hours in a day and the consumer/worker has a utility function U (C, L) = C^0.5 + L ^0.5 The price of consumptio ...

Demonstrate how metrics such as valuation economic profit

Demonstrate how metrics such as valuation, economic profit, and related terms are measured and evaluated. Explain the significance and implications of various economic theories pertaining to profit, consumer choice, dema ...

The united states has a great consumer demand for health

The United States has a great consumer demand for health care services. The supply of these services or products, such as new medications or medical equipment, is affected by many factors. Select a service or product tha ...

Microeconomics - price floorassignmentin a perfectly

Microeconomics - Price Floor Assignment In a perfectly competitive market, the equilibrium price and quantity represent the most efficient operation of that market. Optimum efficiency means that sellers cannot be made be ...

Success and failurethink about the causes of success and

Success and Failure Think about the causes of success and failure for particular movements. What causes some to become widely appealing and have major impacts on change? What causes others (regardless of the validity of ...

Prepare 100 words summary for class discussioncreative

Prepare 100 words summary for class discussion Creative Destruction by W. Michael Cox and Richard Alm Joseph Schumpeter (1883-1950) coined the seemingly paradoxical term "creative destruction," and generations of economi ...

Assignment elasticity and its applicationover the last year

Assignment: Elasticity and Its Application Over the last year your boss has noticed that it would be useful for your firm to understand how consumers behave when variables in the market change and how these changes affec ...

Why do we not classfied money as factors of

Why do we not classfied money as factors of production

Answer these two questionthese is 2 econ question you need

Answer these two question These is 2 econ question, you need answer these by reading the article . you need give me the answer in 1 hour 1. Explain how settled agriculture led to civilization (meaning economic specializa ...

Assignmentlearning activity 1this learning activity focuses

Assignment Learning Activity 1: This learning activity focuses on jurisdiction and ADR. Review closely all assigned materials regarding the legal system. Case Scenario: Ali owns and operates a florist business, Blooming ...

  • 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

A cola-dispensing machine is set to dispense 9 ounces of

A cola-dispensing machine is set to dispense 9 ounces of cola per cup, with a standard deviation of 1.0 ounce. The manuf

What is marketingbullwhat is marketing think back to your

What is Marketing? • "What is marketing"? Think back to your impressions before you started this class versus how you

Question -your client david smith runs a small it

QUESTION - Your client, David Smith runs a small IT consulting business specialising in computer software and techno

Inspection of a random sample of 22 aircraft showed that 15

Inspection of a random sample of 22 aircraft showed that 15 needed repairs to fix a wiring problem that might compromise

Effective hrmquestionhow can an effective hrm system help

Effective HRM Question How can an effective HRM system help facilitate the achievement of an organization's strate