Economics

3. The perfectly competitive firm\'s marginal revenue curve is (1) B) downward-s

3. The perfectly competitive firm's marginal revenue curve is (1) B) downward-sloping, at twice the (negative) slope of the market demand curve. C) vertical. D horizontal E) upwar…

3. The price of a good to be sold by a Monopoly is $0.50. The market has an elas

3. The price of a good to be sold by a Monopoly is $0.50. The market has an elasticity of demand (n) of 5. a. What is the mark-up and what is the Marginal cost? b. What would this…

3. The price of trade Suppose that Greece and Sweden both produce oil and cheese

3. The price of trade Suppose that Greece and Sweden both produce oil and cheese. Greece's opportunity cost of producing a pound of cheese is 5 barrels of oil while Sweden's oppor…

3. The price of trade Suppose that Portugal and Austria both produce beer and ch

3. The price of trade Suppose that Portugal and Austria both produce beer and cheese. Portugal's opportunity cost of producing a pound of cheese is 5 barrels of beer while Austria…

3. The pricing department in your business insists on charging one price to all

3. The pricing department in your business insists on charging one price to all customers in your market, regardless of willingness to pay. Would you agree? How would you suggest …

3. The profit-maximizing condition for a perfectly competitive firm is B. MR AVC

3. The profit-maximizing condition for a perfectly competitive firm is B. MR AVC D. P AVC. 4. If a perfectly competitive firm finds that price is less than average variable cost i…

3. The relationship between marginal and average costs Dismiss All Please Wait .

3. The relationship between marginal and average costs Dismiss All Please Wait . . . Please Wait... Consider the following scenario to understand the relationship between marginal…

3. The table below gives some of the items in a country\'s national accounts. Am

3. The table below gives some of the items in a country's national accounts. Amount (billions of dollars) 4.97 Item Consumption expenditure Investment Government expenditure Net e…

3. Theeffect of Federal Reserve action (or inaction) in the AD-AS model The foll

3. Theeffect of Federal Reserve action (or inaction) in the AD-AS model The following graph shows an economy that is currently producing at point A (grey star symbol), which corre…

3. There are generally two ways for the farm family in Question #2 to maximize p

3. There are generally two ways for the farm family in Question #2 to maximize profitability in their operation, either by operating at the point at which marginal revenue equals …

3. There are two identical firms playing in a Bertrand market. In a Bertrand mar

3. There are two identical firms playing in a Bertrand market. In a Bertrand market, firms produce identical products. The firm offering the lower price gets all the customers in …

3. Three ways to calculate GDP Aa Aa Suppose that the following table shows info

3. Three ways to calculate GDP Aa Aa Suppose that the following table shows information that can be used to calculate GDP for the economy of the fictional country Pistonia. Assume…

3. To advertise or not to advertise Suppose that Creamland and Dairy King are th

3. To advertise or not to advertise Suppose that Creamland and Dairy King are the only two firms that sell ice cream. The following payoff matrix shows the profit (in millions of …

3. Tom goes to the eye doctor to have surgery on his eyes. The questionnaire he

3. Tom goes to the eye doctor to have surgery on his eyes. The questionnaire he was required to fill out asked if he took any illegal drugs. He stated that he used meth and cocain…

3. Topics in income inequality and poverty The following table shows the inequal

3. Topics in income inequality and poverty The following table shows the inequality measure for various nations in 2011. The inequality measure is equal to the income of the riche…

3. Total Total Average Fixed Variable Total Total Marginal Quantity Cost Cost Co

3. Total Total Average Fixed Variable Total Total Marginal Quantity Cost Cost Cost Cost Cost 0 $40 0 40 X X 1 40 55 95 95 55 2 40 75 115 57.50 20 3 40 90 130 43.33 15 4 40 110 150…

3. Total and a of a AaAa Suppose that Stan Gupta is the only seller of kumquats

3. Total and a of a AaAa Suppose that Stan Gupta is the only seller of kumquats in a small town. The following graph shows the demand and marginal revenue (MR) curves facing Stan.…

3. Total and average revenue of a monopolist Suppose that Sam Lane is the only s

3. Total and average revenue of a monopolist Suppose that Sam Lane is the only seller and marginal revenue (MR) curves facing Sam. You can use the red rectangle lobeled Total Reve…

3. Trade and the gravity model. Pair # Pair 1 Pair 2 Pair 3 Pair 4 GDP of i 350

3. Trade and the gravity model. Pair # Pair 1 Pair 2 Pair 3 Pair 4 GDP of i 350 182 232 396 GDP of j 250 131 89 312 Distance 810 300 540 200 Actual Trade 10.2 17.8 8.6 48.7 a. The…

3. Trulia, Inc. operates an online real estate site that provides clients with i

3. Trulia, Inc. operates an online real estate site that provides clients with information about homes for sale, apartments for rent, neighborhood insights, and real estate market…

3. Trulia, Inc. operates an online real estate site that provides clients with i

3. Trulia, Inc. operates an online real estate site that provides clients with information about homes for sale, apartments for rent, neighborhood insights, and real estate market…

3. Tulip urowing is a The market price of tulip is $25 a n week. The avernge tot

3. Tulip urowing is a The market price of tulip is $25 a n week. The avernge total cost of producinu wlips is 520 a tnanch, wnd ww 15 a bunch, Minimums asernge varitle cost is $12…

3. Two Islands with Solow Economies There are two islands, Avalon and Baltia, wh

3. Two Islands with Solow Economies There are two islands, Avalon and Baltia, which have identical economies satisfying the assumptions of the discrete Solow model. In particular,…

3. Two firms decide to form a cartel and collude in a way that maximizes industr

3. Two firms decide to form a cartel and collude in a way that maximizes industry profits. Each firm has zero production costs and each firm is given a positive output quota by th…

3. Two firms, Skynet and Omni Consumer Products (OCP), are the only two firms in

3. Two firms, Skynet and Omni Consumer Products (OCP), are the only two firms in the market for robot:s a. [2 points] Calculate the Herfindahl index for this market (use percents …

3. Two firms, firm 1 and 2, compete by choosing quantity. The inverse market dem

3. Two firms, firm 1 and 2, compete by choosing quantity. The inverse market demand function is P- 250-0 Each firm's marginal cost is 10. Suppose that firm 1 sets its quantity fir…

3. Two rival oligopolists in the athletic supplements industry, the Power Fuel C

3. Two rival oligopolists in the athletic supplements industry, the Power Fuel Company and the Brawny Juice Company have to decide on their pricing strategy. Each can choose eithe…

3. Two years ago, an agricultural engineer invested 100000$ an bought a land to

3. Two years ago, an agricultural engineer invested 100000$ an bought a land to establish a farm. He made his project and during the last two ° One year ago he ordered necessary m…

3. Types of unemployment The three people described in the following table are c

3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as st…

3. Types of unemployment The three people described in the following table are c

3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. ldentify each person in the table as st…

3. Types of unemployment The three people described in the following table are c

3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics Identify each person in the table as str…

3. Types of unemployment The three people described in the following table are c

3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as st…

3. Types of unemployment The three people described in the following table are c

3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as st…

3. Under-pricing of Initial Public Offerings (POS) refers to A. Underwriting fee

3. Under-pricing of Initial Public Offerings (POS) refers to A. Underwriting fees charged by investment banks. B. A benefit received by the pre-IPO shareholders of the issuing com…

3. Understanding labor force terminology When talking about unemployment, it is

3. Understanding labor force terminology When talking about unemployment, it is important to define both the unemployment rate and what it means to be unemployed. In the United St…

3. Understanding the trade deficit through the fundamental equation The equilibr

3. Understanding the trade deficit through the fundamental equation The equilibrium condition for GDP in an open economy is: GDP can be either (spent or taxed away/ spent or saved…

3. Understanding unemployment rates Aa Aa E Phelps was suspicious of the trade-o

3. Understanding unemployment rates Aa Aa E Phelps was suspicious of the trade-off suggested by the Phillips curve. He thought that sensible, forward-looking people should not cha…

3. Use the classical model and the quantity theory of money to predict how each

3. Use the classical model and the quantity theory of money to predict how each of the following shocks would affect the real wage rate (W/P), the real interest rate (r), real agg…

3. Use the following information to answer this question. This example is based

3. Use the following information to answer this question. This example is based on the lecture regarding mutually beneficial trade. One person-day of labor produces Rice (bushels)…

3. Use the following table to answer the questions below: Price LevelAE When lo

3. Use the following table to answer the questions below: Price LevelAE When lo $400 AE When lo- $500AS 75 $9,000 $11,000 $7,000 $8,000$10,000 $8,000 I $9,000 $8,000 100 125 $7,00…

3. Use the following table to answer the questions that follow: LO 3.7 a. If thi

3. Use the following table to answer the questions that follow: LO 3.7 a. If this table reflects the supply of and demand for tickets to a particular World Cup soccer game, what i…

3. Use the graph labeled Graph 3. a. If the price is $17, what is the quantity s

3. Use the graph labeled Graph 3. a. If the price is $17, what is the quantity supplied? b. If the price is $11, do we have a surplus or a shortage? Of how many units? c. If the p…

3. Use the regression tool in Data Analysis to develop a regression to test whet

3.   Use the regression tool in Data Analysis to develop a regression to test whether there are differences in Account Balance across city. Use Account Balance as your dependent v…

3. Using the Aggregate Demand/ Aggregate Supply framework, determine both i) the

3. Using the Aggregate Demand/ Aggregate Supply framework, determine both i) the short run effect on the price level and real output and ii) the long run effect on the price level…

3. Using the data from problem (1), graph the demand and supply curve for bicycl

3. Using the data from problem (1), graph the demand and supply curve for bicycles. How can you determine the equilibrium price and quantity from the graph? How can you determine …

3. Using the price elasticity of demand as discussed in Q2a, assume the governme

3. Using the price elasticity of demand as discussed in Q2a, assume the government imposed a tax on prawns. Explain who will bear most of the burden of tax on prawns. Illustrate y…

3. Using the properties of the expected value operator, prove that the populatio

3. Using the properties of the expected value operator, prove that the population variance EL(X - E(X))2] is equivalent to the expression E(X2) -[E(X)]2. 4. Consider the following…

3. Utility for two goods is given by: U(x1.X2) 5x1 +10x2 a.) Find the demand fun

3. Utility for two goods is given by: U(x1.X2) 5x1 +10x2 a.) Find the demand function for the optimized bundle of the two goods in terms of h(P1 P2.m). b.) If m-$100, p1-$3, p2 $4…

3. Vaccinations reduce other people\'s exposure to communicable diseases. Suppos

3. Vaccinations reduce other people's exposure to communicable diseases. Suppose the market demand for vaccinations is Q 100-10P Where Q is millions of vaccinations and P is the p…

3. Valuing semiannual coupon bonds Bonds often pay a coupon twice a year. For th

3. Valuing semiannual coupon bonds Bonds often pay a coupon twice a year. For the valuation of bonds that make semiannual payments, the number of periods doubles, whereas the amou…