Economics

Suppose the world price of cotton rises. The demand for labor among cotton-produ

Suppose the world price of cotton rises. The demand for labor among cotton-producing firms in Texas wil . The demand for labor among textile-producing firms in South Carolina, for…

Suppose there a paper which sells paper to a book producer. Suppose that the boo

Suppose there a paper which sells paper to a book producer. Suppose that the book producer makes books according to the production technology B = min(P.10C} where P is paper and C…

Suppose there are 1,000 voters in New Hyde. A total of 400 are willing to pay up

Suppose there are 1,000 voters in New Hyde. A total of 400 are willing to pay up to $25 each for the construction of a Park, whereas the other 600 are willing to pay only $10. The…

Suppose there are 1.000 identical firms producing diamonds. Let the total cost f

Suppose there are 1.000 identical firms producing diamonds. Let the total cost function for each firm be given by C(q, w) = q2 + wq, where q is the firm's output level and w Ls th…

Suppose there are 100 firms in a perfectly competitive industry. Each firm has a

Suppose there are 100 firms in a perfectly competitive industry. Each firm has a U-shaped, long-run average cost curve that reaches a minimum of $10 at an output level of 8 units.…

Suppose there are 100 identical firms in the perfectly competitive notecard indu

Suppose there are 100 identical firms in the perfectly competitive notecard industry. Each firm has a short- run total cost curve of the form: 9.3. STC+0.24+4q+10 300 and marginal…

Suppose there are 12 firms in an industry. The percentage of total sales is give

Suppose there are 12 firms in an industry.  The percentage of total sales is given in the following table: Firm Percentage of total sales 1 16 2 14 3 12 4 12 5 10 6 8 7 6 8 6 9 5 …

Suppose there are 3 risk-neutral bidders that are interested in purchasing a Pab

Suppose there are 3 risk-neutral bidders that are interested in purchasing a Pablo Picasso painting at an auction. The bidders have valuations for the painting of $8 million, $10 …

Suppose there are 3,000 in the population: 1,700 are employed, 300 are unemploye

Suppose there are 3,000 in the population: 1,700 are employed, 300 are unemployed, and 200 are discouraged workers. The size of the labor force is: a) 6.3% b) 10% c) 14.3% d) 16.7…

Suppose there are 400 possible points to earn in an economics class. For the pur

Suppose there are 400 possible points to earn in an economics class. For the purposes of this problem, we'll assume that there are only 4 possible outcomes. The Distribution Funct…

Suppose there are 8,000 identical individuals in a market for Latin Dance videos

Suppose there are 8,000 identical individuals in a market for Latin Dance videos, each with a demand function represented by Qdx=12-2Px, and 400 identical producers of Latin Dance…

Suppose there are 8,000 identical individuals in a market for Latin Dance videos

Suppose there are 8,000 identical individuals in a market for Latin Dance videos, each with a demand function represented by Qdx=12-2Px, and 400 identical producers of Latin Dance…

Suppose there are J goods and services at any time t. In year t, a good or servi

Suppose there are J goods and services at any time t. In year t, a good or service j is supplied at quantity Qjt and can be purchased at Pjt which denotes its unit price at market…

Suppose there are external costs associated with the production of cement. This

Suppose there are external costs associated with the production of cement. This means that government can best promote efficiency in the cement market by: giving a tax break to ce…

Suppose there are n identical firms in a market in long run. Each firms cost fun

Suppose there are n identical firms in a market in long run. Each firms cost function is given by C=32+.5q^2, where q is the amount that an individual firm produces. This means th…

Suppose there are n identical firms in a market. Each firm has fixed cost equal

Suppose there are n identical firms in a market. Each firm has fixed cost equal to 392, and variable cost given by VC = 2q^2, where q is the amount that an individual firm produce…

Suppose there are no taxes. Firm ABC has no debt, and firm XYZ has debt of $6,00

Suppose there are no taxes. Firm ABC has no debt, and firm XYZ has debt of $6,000 on which it pays interest of 9% each year. Both companies have identical projects that generate f…

Suppose there are no taxes. Firm ABC has no debt, and firm XYZ has debt of $6,00

Suppose there are no taxes. Firm ABC has no debt, and firm XYZ has debt of $6,000 on which it pays interest of 9% each year. Both companies have identical projects that generate f…

Suppose there are only 2 goods, corn (C) and wheat (W), and only two countries,

Suppose there are only 2 goods, corn (C) and wheat (W), and only two countries, US and Japan. The PPC for the US is W+4C=60, the PPC for Japan is 2W+3C=60. Which of the following …

Suppose there are only two countries in the world: France and Italy. Suppose fur

Suppose there are only two countries in the world: France and Italy. Suppose further that there are only two goods in the world, bread (B) and cheese (C). Assume that the producti…

Suppose there are only two countries, Iraq and Iran, producing oil in the world

Suppose there are only two countries, Iraq and Iran, producing oil in the world (so they are both oligopolists). Assume the leaders of the two countries believe he payoff to alter…

Suppose there are only two countries, Nookshire and the Anniston. There are only

Suppose there are only two countries, Nookshire and the Anniston. There are only two products, ale and swords. Both countries produce these products. Production of both products r…

Suppose there are only two firms that sell Blu-ray players, Movie tonier and Vid

Suppose there are only two firms that sell Blu-ray players, Movie tonier and Videojet. The following payoff matrix shows the profit (in millions of dollars) each company will earn…

Suppose there are only two firms that sell Blu-ray players: Movietonia and Video

Suppose there are only two firms that sell Blu-ray players: Movietonia and Videotech. The following payoff matrix shows the profit (in millions of dollars) each company will earn,…

Suppose there are only two firms that sell digital cameras, Picturesque and Capt

Suppose there are only two firms that sell digital cameras, Picturesque and Capturemania. The following payoff matrix shows the profit (in millions of dollars) each company will e…

Suppose there are only two firms that sell smart phones, Flash fine and Pitch. T

Suppose there are only two firms that sell smart phones, Flash fine and Pitch. The table that follows (known as a payoff matrix) shows the profit (in millions of dollars) each com…

Suppose there are only two firms that sell smart phones, Flashfone and Pictech.

Suppose there are only two firms that sell smart phones, Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars) each company will earn, depen…

Suppose there are only two firms that sell smart phones, Flashfone and Pictech.

Suppose there are only two firms that sell smart phones, Flashfone and Pictech. The following payoff matrix shows the profit (in millions of dollars] each company will earn, depen…

Suppose there are only two firms that sell smartphones, Flashfone and Pictech. T

Suppose there are only two firms that sell smartphones, Flashfone and Pictech. The payoff matrix that follows shows the profit (in millions of dollars) each company will earn, dep…

Suppose there are only two firms that sell smartphones, Flashfone and Pictech. T

Suppose there are only two firms that sell smartphones, Flashfone and Pictech. The table that follows (known as a payoff matrix) shows the profit (in millions of dollars) each com…

Suppose there are only two firms that sell smartphones, Flashfone and Pictech. T

Suppose there are only two firms that sell smartphones, Flashfone and Pictech. The payoff matrix that follows shows the profit (in millions of dollars) each company will earn, dep…

Suppose there are only two firms that sell smartphones, Flashfone and Plctech. T

Suppose there are only two firms that sell smartphones, Flashfone and Plctech. The payoff matrix that follows shows the profit (In millions of dollars) each company will earn, dep…

Suppose there are only two firms that sell tablets: Padmania and Capturesque. Th

Suppose there are only two firms that sell tablets: Padmania and Capturesque. The following payoff matrix shows the profit (in millions of dollars each company will earn, dependin…

Suppose there are only two people in society. The demand curve for person A for

Suppose there are only two people in society. The demand curve for person A for mosquito control is given by qA=$100P For person B, the demand curve for mosquito control is given …

Suppose there are only two producers of aircraft in the world, AirCraft in the U

Suppose there are only two producers of aircraft in the world, AirCraft in the United States and AirEurope in the European Union. The following hypothetical payoff matrices show t…

Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The mark

Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown in the table below. Suppose the…

Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The mark

Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex, and Rex are shown in the table below. a. Fill in …

Suppose there are three types of customers who frequent Louisiana Fried Chicken

Suppose there are three types of customers who frequent Louisiana Fried Chicken (LFC), a fast food chain that sells chicken and biscuits. (For simplicity, assume an equal number o…

Suppose there are three types of customers who frequent Louisiana Fried Chicken

Suppose there are three types of customers who frequent Louisiana Fried Chicken (LFC), a fast food chain that sells chicken and biscuits. (For simplicity, assume an equal number o…

Suppose there are two beer producers, ImBev and SAB Miller. If they advertise, t

Suppose there are two beer producers, ImBev and SAB Miller. If they advertise, they can both sell more beer and increase their revenue. The problem is that the cost of advertising…

Suppose there are two chemical plants that produce kitchen and bathroom cleaners

Suppose there are two chemical plants that produce kitchen and bathroom cleaners. Through the production process, the plants release toxins into the ocean, polluting the water and…

Suppose there are two competing hospitals in a region facing the samecommon dema

Suppose there are two competing hospitals in a region facing the samecommon demand for medical care that can be represented by the following demand equation and each firm possesse…

Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A vie

Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A views the two goods as perfect complements, and consumer B views the two goods as perfect substitutes.…

Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A vie

Suppose there are two consumers, A and B, and two goods, X and Y. Consumer A views the two goods as perfect complements and has U=min(x, y). Consumer B views the two goods as perf…

Suppose there are two consumers, A and B. The utility functions of each consumer

Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X2Y UB(X,Y) = X*Y Therefore: The initial endowments are: A: X = 90; Y = 12…

Suppose there are two consumers, A and B. The utility functions of each consumer

Suppose there are two consumers, A and B. The utility functions of each consumer are given by: U_A(X, Y) = XY^3 U_B(X, Y) = X*Y Therefore: For consumer A: MU_X = Y^3; MU_Y = 3XY^2…

Suppose there are two countries in the world and both can be described by a simp

Suppose there are two countries in the world and both can be described by a simple Keynsian model. The Country 1 model is: And the Country 2 model is Assume exports of Country 1 a…

Suppose there are two countries in the world, Canmerica and Chinam, that initial

Suppose there are two countries in the world, Canmerica and Chinam, that initially have no economic interaction. The wage rate in Canmerica is $20 per hour and the annual rate of …

Suppose there are two countries in the world, US and Japan. There are Americans

Suppose there are two countries in the world, US and Japan. There are Americans in Japan, and Japanese in the US. Within the US, the market value of all the final goods and servic…

Suppose there are two countries in the world, US and Japan. There are Americans

Suppose there are two countries in the world, US and Japan. There are Americans in Japan, and Japanese in the US. Within the US, the market value of all the final goods and servic…