Economics

3. Suppose a firm has the following output and cost structure: Output Total Cost

3. Suppose a firm has the following output and cost structure: Output Total Cost Marginal Cost 0 15 1 25 2 30 3 45 4 65 5 90 6 120 7 155 8 195 9 240 10 290 Fill in the marginal co…

3. Suppose a firm’s production function is given by Q = , where E w and E b are

3. Suppose a firm’s production function is given by Q = , where Ew and Eb are the number of white and black workers employed by the firm, respectively, and Q refers to the quantit…

3. Suppose a monopoly provides both Cable TV and broadband access in a city. The

3. Suppose a monopoly provides both Cable TV and broadband access in a city. The fixed costs are $1 million per day. The number of households (measured in millions) demanding cabl…

3. Suppose an economy produces only one good In the base year (2000), production

3. Suppose an economy produces only one good In the base year (2000), production was 8 units at a price of $10 each. The next year, production increased to 9 units and the price o…

3. Suppose an economy where all tansactions are made using checks of their debit

3. Suppose an economy where all tansactions are made using checks of their debit cards. No one carries currency in this economy. The central bank requires holding 10% of deposits …

3. Suppose as a policy advisor to the governement you are deciding whether to im

3. Suppose as a policy advisor to the governement you are deciding whether to implement a lump-sum tax instead of the existing taxes on electronic goods. Suppose the representativ…

3. Suppose that Fender is trying to practice indirect price discrimination throu

3. Suppose that Fender is trying to practice indirect price discrimination through versioning It plans to offer a cheaper version of its guitar for consumers who are highly price-…

3. Suppose that Mexico, before the formation of NAFTA, had the option of importi

3. Suppose that Mexico, before the formation of NAFTA, had the option of importing stoves either from the United States at a constant cost of $500, or from Brazil at a constant co…

3. Suppose that Wal-World and Tarbo are independently deciding whether to implem

3. Suppose that Wal-World and Tarbo are independently deciding whether to implement a new bar code technology or use the existing bar code. It is less costly for their suppliers t…

3. Suppose that a car selling at $65,785.00 CDN in Canada, sells in France for €

3.   Suppose that a car selling at $65,785.00 CDN in Canada, sells in France for €43,835 Euro. What is the implied Purchasing Power Parity, PPP exchange rate in terms of the Canad…

3. Suppose that a consumer is consuming an optimal mix between health and all ot

3. Suppose that a consumer is consuming an optimal mix between health and all other goods given by (m*, AOG*) (30, 750). The consumer gets appendicitis, she takes a paid sick leav…

3. Suppose that a manufacturer has an ongoing need for silver as a raw material

3. Suppose that a manufacturer has an ongoing need for silver as a raw material in the production process, and is concerned about the risk of the price of silver going up. Two hed…

3. Suppose that an open-air amphitheater is built several miles from a residenti

3. Suppose that an open-air amphitheater is built several miles from a residential community. After the construction is completed it is discovered that the sound from rock concert…

3. Suppose that country A produces two goods under conditions of constant opport

3. Suppose that country A produces two goods under conditions of constant opportunity costs. Given its resources, the maximum S that it can make is 1000 units, and the opportunity…

3. Suppose that the aggregate demand and aggregate supply schedules for a hypoth

3. Suppose that the aggregate demand and aggregate supply schedules for a hypothetical economy are as shown at the top left of the next page. a. Use the data above to graph the ag…

3. Suppose that the behavior of households and firms in an economy is determined

3. Suppose that the behavior of households and firms in an economy is determined by the following equations $C=20+0.8Yd, II = 40, G = 30, T = 0.2Y Transfers are equal to zero. Tax…

3. Suppose that the market for credit cards is a duopoly comprised of two compan

3. Suppose that the market for credit cards is a duopoly comprised of two companies Vita (V) and MisterCard (M). Suppose that Vita is the industry leader. Therefore, Vita gets to …

3. Suppose that the world price of oil is $70 per barrel and that the US can buy

3. Suppose that the world price of oil is $70 per barrel and that the US can buy all the oil it wants at this price. Suppose also that the demand and supply schedules for oil in t…

3. Suppose the aggregate investment function for the economy is given by I $400-

3. Suppose the aggregate investment function for the economy is given by I $400- 40(R) where / represents the level of investment expenditures and R represents the market rate of …

3. Suppose the economy is in a recession and policymakers estimate that AD is $1

3. Suppose the economy is in a recession and policymakers estimate that AD is $10 million short of the amount necessary to achieve potential output i.e. if the AD curve would shif…

3. Suppose the economy is in general equilibrium. What would happen if the natur

3. Suppose the economy is in general equilibrium. What would happen if the natural rate of unemployment were to increase? a. According to the Phillips curve, the resulting positiv…

3. Suppose the graph below represents my demand curve for cups of coffee per wee

3. Suppose the graph below represents my demand curve for cups of coffee per week. a. Quantity of cups of coffee purchased per week (a) Given this graph: If I have consumed one cu…

3. Suppose the market for Widgets is dominated by two firms, firm A and firm B T

3. Suppose the market for Widgets is dominated by two firms, firm A and firm B The market price of Widgets depends on the combined quantity of Widgets produces by firms A and B, q…

3. Suppose the price of a Netflix subscription increases while the price of Redb

3. Suppose the price of a Netflix subscription increases while the price of Redbox rentals stays the same. If Redbox is an inferior good, what happens to the number of Redbox DVDs…

3. Suppose the price of a Netflix subscription increases while the price of Redb

3. Suppose the price of a Netflix subscription increases while the price of Redbox rentals stays the same. If Redbox is an inferior good, what happens to the number of Redbox DVDs…

3. Suppose the state is trying to decide how many miles of a senic river it shou

3. Suppose the state is trying to decide how many miles of a senic river it should preserve. There are 100 people in the community, each of whom has an identical demand function g…

3. Suppose the supply curve for pizza is given by QS 6P, where QS is the quantit

3. Suppose the supply curve for pizza is given by QS 6P, where QS is the quantity offered for sale when the prices is P. Also, suppose the demand curve for pizza is given by QD = …

3. Suppose the tax rate on the first $20 000 of income is 1096; 2096 on the next

3. Suppose the tax rate on the first $20 000 of income is 1096; 2096 on the next $20,000 earned and 25% on any additional income earned. A person earning S35 000 n laxable income …

3. Suppose there are 2 oil services companies, American and National, operating

3. Suppose there are 2 oil services companies, American and National, operating in an oil field in Northern Colorado. The following table shows how many wells each company can dri…

3. Suppose there are two states that do not trade: Iowa and Nebraska. Each state

3. Suppose there are two states that do not trade: Iowa and Nebraska. Each state produces the same two goods: corn and wheat. For Iowa the opportunity cost of producing 1 bushel o…

3. Suppose you are a new board member for an emerging not-for-profit organizatio

3. Suppose you are a new board member for an emerging not-for-profit organizationA hoping to attract new donors. Contributors want to know how efficiently not for-profit organizat…

3. Suppose you have the following simple Keynesian macroeconomic model: co.-Ao +

3. Suppose you have the following simple Keynesian macroeconomic model: co.-Ao + .YD, + 2C0t-1 + Elt Where: = Gross Donnestic Product (GDP) in year t. Co,- total personal consumpt…

3. Suppose you want to buy a car for college. Your awesome uncle is willing to s

3. Suppose you want to buy a car for college. Your awesome uncle is willing to sell you his $20,000 car which he no longer needs. He will only charge you 1% interest per year on t…

3. Suppose your father, who is a potato farmer in Idaho, has decided that he gro

3. Suppose your father, who is a potato farmer in Idaho, has decided that he grows the "best, damn potatoes in the world" In other words, he is clasming that his potatoes are daff…

3. Table: Demand for Breakfast Cereal Price of Cereal Quantity of Cereal Demande

3. Table: Demand for Breakfast Cereal Price of Cereal Quantity of Cereal Demanded (millions of boxes) (per box) $5.00 4.50 4.00 3.50 3.00 2.50 2.00 50 100 150 200 250 300 350 400 …

3. Table: Monopolist Output Total Revenue Marginal Cost 1 $20 $10 2 50 10 3 70 1

3. Table: Monopolist Output Total Revenue Marginal Cost 1 $20 $10 2 50 10 3 70 10 4 80 10 5 85 10 6 88 10 7 90 10 Refer to the table. What is the monopolist's profit-maximizing le…

3. Taxes paid for a given income level Alex is getting ready to do his taxes. He

3. Taxes paid for a given income level Alex is getting ready to do his taxes. He is single and lives in Houston. Alex earned $110,000 in taxable income in 2015. He reviews the fol…

3. Taxes paid for a given income level taxes. He is single and lives in San Dieg

3. Taxes paid for a given income level taxes. He is single and lives in San Diego. Yakov earned $100,000 in taxable income in 2015. He reviews the following Yakov is getting ready…

3. Technalagy and minimum wages Improvements in computer technokgy tend to ino e

3. Technalagy and minimum wages Improvements in computer technokgy tend to ino ease the wage gap between high-skilled and ow-skiled workers. Seme pelicymzkers want to ino ezse the…

3. Terms of trade Suppose that France and Denmark both produce jeans and wine. F

3. Terms of trade Suppose that France and Denmark both produce jeans and wine. France's opportunity cost of producing a bottle of wine is 5 pairs of jeans while Denmark's opportun…

3. Terms of trade Suppose that Spain and Germany both produce jeans and shoes. S

3. Terms of trade Suppose that Spain and Germany both produce jeans and shoes. Spain's opportunity cost of producing a pair of shoes is 5 pairs of jeans while Germany's opportunit…

3. The (inverse) equations for the supply and demand for French Champagne are gi

3. The (inverse) equations for the supply and demand for French Champagne are given below. Supply: P = 40 + ¼Q Demand: P = 100 – ½Q [Half point for each question] a) compute the e…

3. The Charm City Cereal Company makes a cereal from several ingredients. Two of

3. The Charm City Cereal Company makes a cereal from several ingredients. Two of the ingredients, oats and rice, provide vitamins A and B. The company wants to know how many ounce…

3. The Collegetown movie theater serves two kinds of customers: students and pro

3. The Collegetown movie theater serves two kinds of customers: students and professors. There are 900 students and 100 professors in town. Each student's willingness to pay for a…

3. The Federal Reserve Board has 3 basic tools, while the federal government has

3. The Federal Reserve Board has 3 basic tools, while the federal government has 2 tools to help to stabilize the economy. If the Fed and government thought that the economy were …

3. The Federal Reserve Board has 3 basic tools, while the federal government has

3. The Federal Reserve Board has 3 basic tools, while the federal government has 2 tools to help to stabilize the economy. If the Fed and government thought that the economy were …

3. The Gini coefficient Aa Aa Which of the following statements about the Gini c

3. The Gini coefficient Aa Aa Which of the following statements about the Gini coefficient is true? Check all that apply. The Gini coefficient measures a country's economic insecu…

3. The Gini coefficient Aa Aa Which of the following statements about the Gini c

3. The Gini coefficient Aa Aa Which of the following statements about the Gini coefficient is true? Check all that apply. The Gini coefficient measures a country's economic insecu…

3. The Nguyen Company sells beautiful oriental water fountains through wholesale

3. The Nguyen Company sells beautiful oriental water fountains through wholesalers and retailers. They suspect that the retailer is taking an extra 15% more in markup than they sh…

3. The Theory of the Firm document, the Friedman article, and the information in

3. The Theory of the Firm document, the Friedman article, and the information in chapter 4 argue that the main goal of a firm in a market economy is to maximize profit (shareholde…