Question: For each of the following absolute values of price elasticity of demand, indicate whether demand is elastic, inelastic, perfectly elastic, perfectly inelastic, or unit elastic. In addition, determine what would ...
|
Question: From late 1998 to mid-2000, benchmark crude oil prices tripled, from $10 to $30/bbl. The US uses approximately 18 million barrels of oil per day, or about 7 billion barrels per year, so consumers directly and i ...
|
Question: Write a 300+ word essay introducing yourself to your instructor. In your essay be sure to answer each of the following: What would you like your instructor to know about you? Why did you decide to take this par ...
|
Question: Suppose that households change their preferences so that they wish to consume more and save less in the current year. Since the households reduce savings, the interest rate in the economy increases. a. Show on ...
|
Question: Cost functions, a part of the definition of profit, are useful to gauge the performance of the business. Suppose an economist estimated that the cost function of single-product firm as : C(Q) = 10 + 3Q + 3Q 2 + ...
|
Question: There are three consumers A, B and C. Consumer A is willing to pay 8-3F dollars for a unit of flowers for the public square, B is willing to pay 2-3F dollars for a unit of flowers, and C is willing to pay 9-3F ...
|
What factors are used to measure productivity? Has the annual average productivity in the U.S. went up or down over the last 30 years? In your opinion what caused this to happen?
|
Question: Draw two Supply and Demand graphs (one for each problem) and show what happens to price and quantity a. in the market for chocolate ice cream when new technology improves production. b. in the market for cigare ...
|
Question: Before World War II started, the German currency, which was then the Reichsmark, was set at 2.5 to the dollar. After the war ended, the occupying forces set its successor, the Dmark, at 4.2 to the dollar. The u ...
|
Question: Using academic scholarly research, find an article that addresses an ethical dilemma from the past five years and annotate it thoroughly. What are the key points to the article? Summarize the dilemma. What are ...
|
|