Economics

6. Consider a copy shop with annualized fixed costs of $1000 and variable cost o

6. Consider a copy shop with annualized fixed costs of $1000 and variable cost of $0.03 per page. The shop presently has orders for 100,000 copies at a price of $0.05 per page. A …

6. Consider a market for CDs in a country called Home that has only one producer

6. Consider a market for CDs in a country called Home that has only one producer, Music, Inc. Suppose that the demand curve is given by: Q=100-P, where Q is the number of CDs dema…

6. Consider a market like the one illustrated in the figure below. If a monopoly

6. Consider a market like the one illustrated in the figure below. If a monopoly in this market tried to set its price above the minimum point on its average cost curve, what woul…

6. Consider a slight variation of the dynamic monopoly game talked about in clas

6. Consider a slight variation of the dynamic monopoly game talked about in class. Suppose a manager (Tony) is selling to one high-type, enthusiast customer (Hal) and only one low…

6. Consider an economy made up of 130 people, 94 of whom hold jobs and 6 of whom

6. Consider an economy made up of 130 people, 94 of whom hold jobs and 6 of whom have no jobs but are actively seeking work. The unemployment rate is: a)4.6% b)6% c)9.4% d)14% e)2…

6. Consider the Efficient Portfolio Frontier that arises for a given set of risk

6. Consider the Efficient Portfolio Frontier that arises for a given set of risky assets, and suppose that all portfolios on this frontier have strictly positive return standard d…

6. Consider the basic RothschildStiglitz model with asymmetric information and t

6. Consider the basic RothschildStiglitz model with asymmetric information and two types on consumers. A policymaker who has taken this class suggests that is might be beneficial …

6. Consider the basic Solow model of chapters 10 and 11 in which both technology

6.   Consider the basic Solow model of chapters 10 and 11 in which both technology (A) and the units of labor input (N) are fixed. a)Show how the steady state equilibrium values o…

6. Consider the following 2 player game in normal form where both the Row and th

6. Consider the following 2 player game in normal form where both the Row and the Column player's strategies are Blue, Green, Red, and Yellow. Column Blue 6,10 9,6 5,4 7,6 Green 7…

6. Consider the labor market for artisanal bakers in the United States. What wou

6. Consider the labor market for artisanal bakers in the United States. What would happen to labor demand or labor supply if the following situations occurred? In other words, wil…

6. Consumers express self-interest when they: A. Seek the lowest price for a pro

6. Consumers express self-interest when they: A. Seek the lowest price for a product B. Reduce business losses C. Collect economic profits D. Search for jobs with the highest wage…

6. Contrasting labor union laws in two states Consider two states that adopt dif

6. Contrasting labor union laws in two states Consider two states that adopt different laws concerning labor unions The following graph shows the labor market in a state in the No…

6. Contrasting labor union laws in two states Consider two states that adopt dif

6. Contrasting labor union laws in two states Consider two states that adopt different laws concerning labor unions. The following graph shows the labor market in a state in the N…

6. Correcting for negative externalities Regulation versus tradable permits Aa A

6. Correcting for negative externalities Regulation versus tradable permits Aa Aa Suppose the government wants to reduce the total pollution emitted by three firms in its area. Cu…

6. Correcting for negative externalities Taxes versus tradable permits Paper fac

6. Correcting for negative externalities Taxes versus tradable permits Paper factories emit chemicals as a waste product. This generates a cost to society that is not paid for by …

6. Cost-curve shifters The following graph shows the average total cost (ATC) cu

6. Cost-curve shifters The following graph shows the average total cost (ATC) curve, average variable cost (AVC) curve, and average fixed cost (AFC) curve for Stan's Pizza Parlor …

6. Cournot competition Consider a town in which only two residents, Albert and S

6. Cournot competition Consider a town in which only two residents, Albert and Stasia, own wells that produce water safe for drinking. Albert and Stasia can pump and sell as much …

6. Cousin Cletus, an amateur sculptor,produces sculptures. He has a fixed cost o

6.   Cousin Cletus, an amateur sculptor,produces sculptures. He has a fixed cost of $60 per week and histotal variable cost schedule (VC) is shown below. Rate ofOutput (Sculptures…

6. Critical analysis Q13 Gouge-em Cable Company is the only cable television ser

6. Critical analysis Q13 Gouge-em Cable Company is the only cable television service company licensed to operate in Backwater County. Most of its costs are access fees and mainten…

6. Curtis\'s preferences for ambrosia and bananas can be represented in the foll

6. Curtis's preferences for ambrosia and bananas can be represented in the following way, U(a, b) -2a +36. So the marginal utility he gets from one more ambrosia is U. 2 and the m…

6. Data analysis Go to the excel sheet titled 03 - Production Data.xlsx in the m

6. Data analysis Go to the excel sheet titled 03 - Production Data.xlsx in the modules section. In that file, you can find 3 columns for Q.K and L. First,use natural log transform…

6. Describe each of the four properties of indifference curves. 7. describe and

6.  Describe each of the four properties of indifference curves. 7.  describe and explain the budge constraint.  How does a consumer maximize utility under a given budget constrat…

6. Determinants of growth Aa Aa The economies of Technetium and Polonium are ide

6. Determinants of growth Aa Aa The economies of Technetium and Polonium are identical except that Technetium has greater quantities of physical and human capital while Polonium u…

6. Determine the annual return rate on a 12-year, $15,000 discount bond that you

6. Determine the annual return rate on a 12-year, $15,000 discount bond that you originally purchased for $6,200 sold 7 years later for $9,100. 7. Suppose that you are a saver wit…

6. Discrimination in the labor market The following table lists the name, gender

6. Discrimination in the labor market The following table lists the name, gender, height, and lowest wage 10 people are willing to accept to work as swimming instructors at an exc…

6. Disposable income in a particular periodis _______. total incomeearned income

6. Disposable income in a particular periodis _______.       total incomeearned        income earned plus government transferpayments        income earned plus government transfer…

6. Division of labor implies a. Each labor unit specializes in a specific task.

6. Division of labor implies a. Each labor unit specializes in a specific task. b. Each labor unit utilizes cross-training to become efficient at every task. c. Each output become…

6. Division of labor implies a. Each labor unit specializes in a specific task.

6. Division of labor implies a. Each labor unit specializes in a specific task. b. Each labor unit utilizes cross-training to become efficient at every task. c. Each output become…

6. Drag the correct word/phrase to each sentence. All the following are shift fa

6. Drag the correct word/phrase to each sentence. All the following are shift factors for An increase in income will shift the demand for good X to the left. True or false? a supp…

6. E R materials cost index (MCI) had a value of 2708.51 in August 2010. In the

6. E R materials cost index (MCI) had a value of 2708.51 in August 2010. In the same month the cost for cement was $96.55 per ton. If cement increased i price exactly in accordanc…

6. Each firm in a competitive market has an identical short-run and long-run cos

6. Each firm in a competitive market has an identical short-run and long-run cost function C(q) 144 + q. The market demand function is Q 240 - P, where Q is total output and P is …

6. Effects of a quota on domestic prices The following graph shows the domestic

6. Effects of a quota on domestic prices The following graph shows the domestic demand for and supply of barley in Canada. The horizontal green line shows the world price of $2 fo…

6. Effects of a quota on domestic prices he following graph shows the domestic d

6. Effects of a quota on domestic prices he following graph shows the domestic demand for and supply of barley in Canada. The horizontal green line shows the world price of S2 for…

6. Efficient market hypothesis Aa Aa B Suppose Winona owns a famous clam shack t

6. Efficient market hypothesis Aa Aa B Suppose Winona owns a famous clam shack that enjoys an annual revenue of $275,000. If her business goes public, the stock price would be $5 …

6. Equilibrium hours of work for an individual occurs: (a) at the point on the b

6. Equilibrium hours of work for an individual occurs: (a) at the point on the budget constraint where the wage equals the marginal rate of substitution. (b) where the marginal ra…

6. Evaluate the following statements: a. \"Free trade forces domestic producers

6. Evaluate the following statements: a. "Free trade forces domestic producers to pay attention to consumer tastes and preferences." b. "Free trade would be desirable, but we can'…

6. Examples of price discrimination Complete the following table by indicating w

6. Examples of price discrimination Complete the following table by indicating whether or not each scenario is an example of price discrimination. Hint: To determine whether a sce…

6. Explain how the public good problem of environmental services, where SMB>PMB,

6. Explain how the public good problem of environmental services, where SMB>PMB, is due to nonrivalry and nonexclusion (otherwise called "free riding"). Using Ch. 3 (Markets an…

6. Explain how the rule of joint and several liability works. Under what circums

6. Explain how the rule of joint and several liability works. Under what circumstances is such a rule likely to induce efficient behavior? Why? Be sure to include the concept of “…

6. FIGURE 1 (20 POINTS) 8 12 10 10 8 E 6 E 6 6 2 6 4 6 Wine (million barrels) (a

6. FIGURE 1 (20 POINTS) 8 12 10 10 8 E 6 E 6 6 2 6 4 6 Wine (million barrels) (a) England Wine (million barrels) (b) Portugal Figure 1 above shows the number of yards of cloth and…

6. Fed Sees Both Unemployment, Prices on Rise The Federal Reserve sees worse eco

6. Fed Sees Both Unemployment, Prices on Rise The Federal Reserve sees worse economic problems ahead. . . . But even so, the Fed may be reluctant to cut interest rates any further…

6. For each of the following statements, indicate whether it is true or false an

6. For each of the following statements, indicate whether it is true or false and explain. A monopolist who is able to practice third-degree price discrimination will make greater…

6. Gains from trade Aa Aa Consider two neighboring island countries, Bellissima

6. Gains from trade Aa Aa Consider two neighboring island countries, Bellissima and Felicidad. Each has 72,000 labor hours available per month that it can use to produce wheat, je…

6. Gary and Diane must prepare a presentation. As part of their presentation, th

6. Gary and Diane must prepare a presentation. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours t…

6. Gary and Diane must prepare a presentation. As part of their presentation, th

6. Gary and Diane must prepare a presentation. As part of their presentation, they must do a series of calculations and prepare 50 PowerPoint slides. It would take Gary 10 hours t…

6. Given the following demand curve of a consumer for a monopolist’s product, Q

6. Given the following demand curve of a consumer for a monopolist’s product, Q = 14 – 2P a. Find the total revenue of the monopolist when it sells six units of the commodity with…

6. Goods added to inventories during a given year are a. counted as part of GDP

6. Goods added to inventories during a given year are a. counted as part of GDP for that year even though they do not pass through markets b not counted as part of GDP for that ye…

6. Heat Tamers, Inc., of Bend, Oregon produces special heat-resistant boots used

6. Heat Tamers, Inc., of Bend, Oregon produces special heat-resistant boots used primarily by firefighters, smoke-jumpers and steelworkers. It is contemplating an expansion into t…

6. How large is the economy of India? Indian GDP in 2010 was 78.9 trillion rupee

6. How large is the economy of India? Indian GDP in 2010 was 78.9 trillion rupees, while U.S. GDP was $14.5 trillion. The exchange rate in 2010 was 45.7 rupees per dollar. India t…

6. I n the two-college talent-recruiting game, the NCAA enforces a. the cooperat

6. I n the two-college talent-recruiting game, the NCAA enforces a. the cooperative outcome: recruiting dominance by one or the b. the cooperative outcome: low-cost recruiting by …