Economics

A local pub specializing in small craft-brews is trying to figure out how many d

A local pub specializing in small craft-brews is trying to figure out how many different beers to carry. They estimate every tap added will increase revenue, but with diminishing …

A local realtor estimated the long-term income elasticity of demand for rental p

A local realtor estimated the long-term income elasticity of demand for rental properties to be 0.9 and the long-run income elasticity for owner-occupied housing to be 1.10. Recen…

A local realtor estimated the long-term income elasticity of demand for rental p

A local realtor estimated the long-term income elasticity of demand for rental properties to be 0.9 and the long-run income elasticity for owner-occupied housing to be 1.10. Recen…

A local realtor estimated the long-term income elasticity of demand for rental p

A local realtor estimated the long-term income elasticity of demand for rental properties to be 0.9 and the long-run income elasticity for owner-occupied housing to be 1.10. Recen…

A local restaurant increases the prices on its burgers as soon as it begins a pr

A local restaurant increases the prices on its burgers as soon as it begins a promotional campaign. Which of the following is most likely to be true? The promotional campaign feat…

A local restaurant owner is considering expanding into another urban area. The e

A local restaurant owner is considering expanding into another urban area. The expansion project will be financed through a line of credit with First National Bank. The administra…

A local restauranteur owns a profitable restaurant and then decides to purchase

A local restauranteur owns a profitable restaurant and then decides to purchase a liquor license giving her the right to sell beer, wine and spirits for $90,000. While the license…

A local restaurateur who had been running a profitable business for many years r

A local restaurateur who had been running a profitable business for many years recently purchased a three-way liquor license. This license gives the owner the legal right to sell …

A local restaurateur whose business had been profitable for many years recently

A local restaurateur whose business had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer, wine and spirits at the restaura…

A local restaurateur whose business had been profitable for many years recently

A local restaurateur whose business had been profitable for many years recently purchased a liquor license, giving her a legal right to sell beer, wine and spirits at the restaura…

A local snow cone business sells snow cones in one size for $5. It has the follo

A local snow cone business sells snow cones in one size for $5. It has the following cost and output structure per hour. Output (cones per hour) Total Cost (per hour) 0 $40 10    …

A local snowboard firm wants to produce 200 snowboards next month. The firm must

A local snowboard firm wants to produce 200 snowboards next month. The firm must hire more labor in order to produce at this level (Q=200), and is faced with the option of hiring …

A local snowboard firm wants to produce 200 snowboards next month. The firm must

A local snowboard firm wants to produce 200 snowboards next month. The firm must hire more labor in order to produce at this level (Q=200), and is faced with the option of hiring …

A local sports bar routinely promotes sporting events, such as the Super Bowl, t

A local sports bar routinely promotes sporting events, such as the Super Bowl, the NCAA Sweet Sixteen tournament, the BCS games, the Masters, NBA and NFL playoffs, NHL, baseball, …

A local telephone company offers three pricing options: I. A monthly fee of $20

A local telephone company offers three pricing options: I. A monthly fee of $20 plus 5 cents per call II. No monthly fee, but 10 cents per call. III. No monthly fee, and 20 cents …

A local utility finds that when the price of natural gas (dollars per mcf) is 3.

A local utility finds that when the price of natural gas (dollars per mcf) is 3.52 the average household uses 4.17 mcf. Further, when the price is 4.65 an average household uses 3…

A logical starting point from which the study of internationaltrade begins is a.

A logical starting point from which the study of internationaltrade begins is a.the recognition that not all markets are competitive b. the recognition that government interventio…

A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepher

A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one per shepherd. If a …

A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepher

A lone shepherd can graze 10 sheep per year in a meadow. Each additional shepherd who uses the meadow reduces the number of sheep that can be maintained by one per shepherd. If a …

A long-term contract Select one: a. occurs when a firm produces its own inputs.

A long-term contract Select one: a. occurs when a firm produces its own inputs. b. is shorter when specialized investments are important. c. is when a firm is legally bound to pur…

A lot is happening at the national level. Bilateral/multilateral trade negotiati

A lot is happening at the national level. Bilateral/multilateral trade negotiations and agreements, currency manipulations by some countries the US trades with, driverless car dev…

A lottery prize is advertised as being $4,000,000 ($4 million). The winner recei

A lottery prize is advertised as being $4,000,000 ($4 million). The winner receives $1 million immediately and then $500,000 (half a million dollars) at the beginning of each year…

A lottery promises a $250,000 prize. But the prize money is paid out in $50,000

A lottery promises a $250,000 prize. But the prize money is paid out in $50,000 annual installments with the first installment received today.. The winner is offered the option of…

A low-income country decides to set a price ceiling on bread so they can make su

A low-income country decides to set a price ceiling on bread so they can make sure that bread is affordable to the poor. The conditions of demand and supply are given in the table…

A machine at a cost of $5000 was purchased 3 years ago. It can be sold now for $

A machine at a cost of $5000 was purchased 3 years ago. It can be sold now for $3000. If the machine is kept, the annual operating and maintenance costs will be $1500. If it is ke…

A machine is purchased for $100,000 and can be sold at the end of five years for

A machine is purchased for $100,000 and can be sold at the end of five years for $20,000. The machine is capable of producing 1250 parts per year and the operating and maintenance…

A machine purchased 3 years ago for $140,000 is now too slow to satisty the dema

A machine purchased 3 years ago for $140,000 is now too slow to satisty the demand of the customers. It can be upgraded now for $84,000 or sold to a smaller company internationall…

A machine purchased a year ago for $85,000 costs more to operate than anticipate

A machine purchased a year ago for $85,000 costs more to operate than anticipated. At the time of the purchase, it was expected to be used for 10 years with annual maintenance cos…

A machine that costs $20,000 has a 10-year life and a $2000 salvage value. If st

A machine that costs $20,000 has a 10-year life and a $2000 salvage value. If straight-line depreciation is used, what is the book value of the machine at the end of the fourth ye…

A machine that is used in an industrial process to make a certain product has an

A machine that is used in an industrial process to make a certain product has an initial cost of $50,000 and it is expected to have a zero salvage value. The maximum capacity of t…

A machine that produces a certain piece must be turned off by the operator after

A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventi…

A machine that produces a certain piece must be turned off by the operator after

A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventi…

A machine that produces a certain piece must be turned off by the operator after

A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventi…

A machine that produces a certain piece must be turned off by the operator after

A machine that produces a certain piece must be turned off by the operator after each piece is completed. The machine "coasts" for 15 seconds after it is turned off, thus preventi…

A machine that produces ball bearings is set so that the average diameter is 0.5

A machine that produces ball bearings is set so that the average diameter is 0.5 inch. Assume the diameter of ball bearings is normally distributes. A sample of 10 ball bearings w…

A machine was purchased for $100,000. Estimated salvage is $27,000 in 7 years. 3

A machine was purchased for $100,000. Estimated salvage is $27,000 in 7 years. 3 year MACRS depreciation is being used. (33.33, 44.45, 14.81, 7.41). The machine will be kept for 7…

A macroeconomist - as opposed to a microeconomist - would study a. the effects o

A macroeconomist - as opposed to a microeconomist - would study a. the effects of rent control on housing in New York City. b. the effects of borrowing by the federal government. …

A main conclusion from Walt Rostow\'s stage theory was that 1.the Sherman Anti-t

A main conclusion from Walt Rostow's stage theory was that 1.the Sherman Anti-trust Act would promote purely competitive markets and therefore stimulate the rate of economic growt…

A main difference between a monopolistic firm and a competitive firm is that A)

A main difference between a monopolistic firm and a competitive firm is that A) we assume the monopolistic firm maximizes profits but the competitive firm does not. B) the monopol…

A maintenance company is offering a firm two payments plans, A and B for a machi

A maintenance company is offering a firm two payments plans, A and B for a machine. In plan A, duration four years, firm has to pay annual uniform payment of $480. In plan B, dura…

A major automotive company is considering an agreement with a small manufacturer

A major automotive company is considering an agreement with a small manufacturer whereby it would be required to make end-of-the-year royalty payments of $500 000 beginning in yea…

A major automotive company is considering an agreement with a small manufacturer

A major automotive company is considering an agreement with a small manufacturer whereby it would be required to make end-of-the-yearroyalty payments of $500 000 beginning in year…

A major car manufacturer wants to test a new engine to determine whether it meet

A major car manufacturer wants to test a new engine to determine whether it meets new air pollution standards. The mean emission of all engine of this type must be less than 20 pa…

A major car manufacturer wants to test a new engine to determine whether it meet

A major car manufacturer wants to test a new engine to determine whether it meets new air pollution standards. The mean emission of all engine of this type must be less than 20 pa…

A major drug store chain wishes to build a new warehouse to serve the whole Midw

A major drug store chain wishes to build a new warehouse to serve the whole Midwest. At the moment, it is looking at three possible locations. The factors, weights, and ratings be…

A major employer has just added health insurance coverage for its employees. Con

A major employer has just added health insurance coverage for its employees. Consequently, 5,000 of your patients will pay a $30 copayment rather than the list price of $100 per v…

A major point of the Baumol-Tobin model of the transactions demand for money is

A major point of the Baumol-Tobin model of the transactions demand for money is that they show that the demand for money is related to income. velocity of money is constant. fract…

A major result in auction theory is the “Revenue Equivalence Theorem,” stating t

A major result in auction theory is the “Revenue Equivalence Theorem,” stating that: As a bidder in a standard auction, your gains will be the same irrespective of your bid. As a …

A man makes a $1000 investment every year on December 31. Interest is 10% per ye

A man makes a $1000 investment every year on December 31. Interest is 10% per year, but compounded semi-annually (every 6 months). He makes 10 investments in all. a. Find the effe…

A man recently invested $2,566.7 in a project that is promising to return 12 per

A man recently invested $2,566.7 in a project that is promising to return 12 percent per year. The cash flows are as follows: End of year Cash flow 1 $325 What is cash flow at end…