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Question: There are five horseracing tracks in Kentucky. The Kentucky legislature allows only one track to be open at a time. a. How will it affect the elasticity of demand for horse racing tickets? b. How does this rest ...
Question: Suppose a market with the following production function F(K, L) = (K - 1) 1 4L 1 4 . Consider the wage w = 1 and the capital return r = 4. Suppose in the short run K = 2. a) What is the demand for labor in the ...
Question: Describe the difference between frictional and structural unemployment. Explain the reasons why each type of unemployment may arise. The response must be typed, single spaced, must be in times new roman font (s ...
Question: Consider the Heckscher-Ohlin model from the slides in the case of no factor substitution. The production technology of food and cloth are: QF = min [LF/3 , KF] QC = min [KC/3 , LC]. The home country has 100 uni ...
Question: How would the reduction in the number of immigrant workers affects the economy in the short-term (Use IS-LM framework and graphs) The response must be typed, single spaced, must be in times new roman font (size ...
Question: A monopolist sells in two countries and practices price discrimination by charging different prices in each country. The monopolist produces at constant marginal cost MC =10 Demand in country 1 is Q1= 100-2p1 . ...
Question: Describe the three forms of price discrimination and give examples of where each kind is applied. What would prevent a firm attempting to price discriminate from being successful? Would oligopolies or monopolis ...
Question: A consumer has the following utility function: U(x1,x2)=ln(x1)+2*ln(x2), where ‘ln' stands for the natural logarithm. Reminder - the derivate of ln(x1) with respect to x1 is 1/x1. a. Calculate the demand functi ...
Question: Why do the authors of Why ation ail place such heavy emphasis on institutions as one of the most critical elements for the generation of prosperity among developing countries? What other factors do they also de ...
Question: Traders in asset markets suddenly learn that the interest rate on dollars will decline in the future. Use a diagram to show the new equilibrium, assuming current interest rates on dollar and euro deposits do no ...
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Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate
Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p
Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As
Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int
Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As