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Assumptions amd rational economics

I need some assistance to the questions below. Please help. Thank you. Economists are often criticized for making assumptions. Why are assumptions necessary? To think about this, you might consider an assumption that is often made: people are ratonal. Do you think that people are rational, and how could you construct a model

Economics of education: school vouchers

I have to compare and contrast universal and targeted educational vouchers programs for grades K-12 in the united states. I am not able to find any information on these two specific types of school vouchers.

Using visual analysis to measure the effects of intervention

Page 219 1.- Visual analysis is used to communicate the impact of an intervention in visual form. What are the three primary ways that the pattern of scores established during a baseline or intervention stage may be viewed? When is each of them best used? What information is conveyed and what information may be omitted by ch

GDP and Price Index

Suppose nominal GDP of $566 billion in 1992, $600 billion in 1993, and $642 billion in 1994. If 1992 is the base year, the prise index is 105 in 1993, and real growth in 1994 is 3 percent, what is the price index in 1994?

A) What is the economic life of the machine? b) What is the equivalent annual cost over that life? Now assume that the MARR is 5%. c) What is the economic life of the machine? d) What is the equivalent annual cost over that life? e) Explain the effect of decreasing the MARR.

A certain machine costs $25,000 to purchase and install. It has salvage values and operating costs as shown in the table in the attached file. The salvage value of $20,000 listed at time 0 reflects the loss of the installation costs at the time of installation. The MARR is 12%. Life in Years Salvage value Operating cost 0 $2

Economics help

Tennis Products, Inc., produces three models of high-quality tennis rackets. The following table contains recent information on th4e sales, costs, and profitability of the three models: Model Average Quantity Sold (Units/month) Current Price Total Revenue Variable Cost per unit Contribution margin per unit Contribution Marg

Marginal Cost Curve for Ajax Cleaning Products

Ajax Cleaning Products is a medium-sized firm operating in an industry dominated by one very large firm-Tile King. Ajax produces a multi-headed tunnel wall scrubber that is very similar to a model produced by Tile King. Ajax has decided to charge the same price as Tile King to avoid the possibility of a price war. The price char

Discount Rate overview

Question1: The EPA is interested in implementing a policy to increase the amount of "brownfield" remidiation. Each policy possesses separate benefits listed below (attachment) over a 5 year horizon. Cost of implementation is 10 million. Which policy would you recommend with a discount rate of 20%? (see attachment) Que


Exercises 16-1, 16-5, 16-7, 16-9, 16-10, 16-16

Comparison Methods

1) Ridgley Custom Metal Products (RCMP) must purchase a new tube bender. RCMP's MARR is 11%. They are considering two models (see first table in attached file). a) Using the present worth method, which tube bender should they buy? b) RCMP has discovered a third alternative, which has been added to the table (see second tab


Enrique is planning a trip around the world in three years. He will sell all of his possessions at that to fund the trip. Two years ago, he bought a used car for $12,500. He observes that the market value for the car now is about $8300. He needs to know how much money his car will add to his stash for his trip when he sells it t

Annual GDP Change

Caculate the total change in a years GDP: On March 31, you decide to stop throwing away $50 a month on convenince store nachos. You buy $200 worth of equipment, corn meal, and cheese, and make your own nachos for the rest of the year.

Explanation of savings rate decline

During the 1990s, the age cohort that grew the most rapidly was the 45-54 cohort, which has the highest saving rate. Yet during that same period, the personal saving rate as reported by BEA declined sharply. I'm not sure I understand what factors account for this divergence?

AD curve

There are four basic components of the AD curve: Consumption, Investment, Government Expenditures, and Net Exports. Of these four components what one of them is currently negative? (This is not related to the Deficit that we hear so much about.) What suggestions do you have that would bring this one component th

Assess increase in price

An increase in the price level will a. shift the aggregate expenditure function upward b. shift the aggregate expenditure function downward c. result in a movement upward along the aggregate expenditure function d. result in a movement downward along the aggregate expenditure function e. change the slope of the aggregate ex

Labor productivity

A union employer is able to produce a machined part for $8.90 per unit and the cost of one (1) hour of union labor is $26.70. If a non-union employer is able to pay their employees $17.00 per hour and can produce the identical part with 30 minutes of labor, which supplier should you purchase the part from? If the higher cost em


Calculate the annual worth (years 1 through 10) of the following series of disbursements. Assume that i = 12% per year. Year Disbursement,$ Year Disbursement,$ 0 $5,000 6 $5,000 1 $3,500 7 $5,000

Gantt Chart

Using the Gantt chart view in MS Project as a starting point, create a dataflow diagram for any sort of web business. Be sure to use the conventions of data flow diagrams.

Operation Research

Please see attachment for questions relating to JIT concept and economic order quantity. Thanks.

REal World

In the real world, we should expect the multiplier process to work itself out_______________. a. almost instantaneously b. within a few days c. within one month d. only over many months

Stock market

If you have a certain amount of money invested in the stock market for a moment of time, then there is an expected return on that investment (the stock market goes up on average), and a risk, a variance in that return (the stock market flucuates), both of which are proportional to the amount you have invested. As those moments

Standard deviation

3(a) Daily samples of 100 power drills are removed from Tec Best's assembly line and inspected for defects. Over the past 21 days the following information contained in Table 1 has been gathered. i. Develop a 3 standard deviation (99.7%) confidence p chart and graph the samples. ii. Is the process in control? iii. If not

Product development/advantages and disadvantages

In the early 1990s, Chrysler Corporation placed nearly all decisions about the development of a new vehicle in the hands of a single, cross-functional product team. In contrast, General Motors used an approach that placed a stronger emphasis on functional specialties. Small teams were established that consisted of experts from


What is a product or service which features inelastic demand, and a product or service which features elastic demand.