I don't understand how a price ceiling undermines the rationing function of market determined prices. How could rationing coupons ensure that consumers with the highest values get the limited amount of a good supplied when government price ceilings create shortages? I believe that the answer is based upon demand, supply and ma
While sitting in your office one evening, you begin to think about some of the key microeconomic messages you want to communicate to the Board. (Key concepts include, but are not limited to, supply and demand, pricing, competition, costs & production, and economic value added.) Pick two key concepts and discuss what you will pre
Is the demand for electricity more price elastic when measured over a short period of time or a long period time? Explain.
Find two articles that discuss the local, state, or federal taxation of a good. Describe the effects of taxation and price controls on the economy. -Is the tax levied on the producers or consumers? -How does the tax affect supply or demand? -How does the tax affect the equilibrium price and quantity? -In this market, descr
Address the following topics in your analysis: a. Prices b. Technology c. Productivity (consider the law of diminishing marginal productivity) d. Cost structure 1) Wages and benefits 2) Fixed and variable costs e. Price elasticity of demand
How does monetarism differ from Interest Targeting (or is Inflation Targeting different than Interest Targeting)?
1. List the three basic questions of economics. 2. About how many business firms in the U.S. are proprietorships? 3. List the four types of investments. 4. Identify the government department that compiles the statistics on unemployment. 5. List the three automatic stabilizers that are built i
Find two sources to help answer the following questions about the industry of home building. Research any negative or positive externalities the industry produces. Does the transaction of a buyer and seller directly affect a third party? Is the effect a negative or positive externality? How does the externality impact the econom
Describe the market structure of the semiconductor industry?
The question is: identify a person, organization, or event(s) that should be given credit for the relatively low, stable rate of inflation we've had in the U.S. since the late 1980s? It seems that when Ronald Reagan became president in 1980, he helped raise the GDP, and the Keynesian Economics helped to do this. So over a
Since the September 11th attack there has been an increase in the demand for security personnel: police, air marshals, airport security, etc. How do you think the higher demand has affected the equilibrium wage? In which direction do you think the labor supply and demand shifted? Explain your reasoning.
The Lannon Lock Company manufactures commercial security locks at plants in Atlanta. Louisville, Detroit and Phoenix. The unit cost of production at each plant is $35.50, $37.50, $37.25 and $36.25, respectively; the annual capacities are 18,000, 15,000, 25,000, and 20,000, respectively. The locks are sold through wholesale
Is Microsoft a monopoly? Is the electric power industry in California an oligopoly? Explain your reasoning for each.
? Write a paper that provides an economic profile of the industry you have researched. ? Utilize all the information you have gathered throughout the course to write your paper. ? Conclude the paper with these final thoughts: o How the economy affects the success of your chosen industry. o Economic influences that can affect
Write a scenario that would cause a shift in labor supply and demand. The following areas have had high job growth rates and can be used for your scenario: transportation, insurance, and real estate industries. o What is the area of employment? o Why has this shift occurred? o In what direction would the shift in labor supp
Build a Balanced Scorecard for the unit of the organization for which you work (Scholastic Corp. Symbol: SCHL). Identify the strategic objectives of the entire organization and the secondary objectives for the unit. Develop three specific objectives within each of the four perspectives for the unit. Each objective should have at
Using a separate supply and demand diagram for each part, illustrate the effect of the price of the yen in terms of dollars of each of the following (hint: you will have the dollar price of the yen on the vertical axis0: a. Lower Japanese price level b. Fast Japanese economic growth c. High Japane
Problem 1 Suppose a firm has the following demand equation: Q = 1,000 - 3,000P + 10A, where Q = quantity demanded P = product price (in dollars) A = advertising expenditures (in dollars) Assume for the questions below that P = $3 and A = $2,000 1. Suppose the firm dropped the pric
Questions on Comparative Advantage. See attached file for full problem description.
Please help with the following economic development problem. Demand and Supply curves. The following relations describe demand and supply conditions in the wheat industry: Qd=5,500-1,000P (demand) Qs=-4,500+1,500P (supply) Where Q is quantity measured in millions of bushels and P is the price in dollars.
1. What specific standard is applied to a company whose only contact with a forum state is through its Internet site? If you had an eBusiness, what could you do in order to limit your liability to suit in multiple jurisdictions? How could it be set up? In your opinion, would your plan be ethical? Why or why not? 2. Name o
Here are the questions that everyone should discuss: 1) When will the world run out of proven reserves of crude oil ? Pick one of the answers below, and explain clearly why you picked this answer. A) In 1,317/31 = 42 years. B) Never C) It cannot be determined. 2) When will the world run out o
Indicate whether each of the following statements is true or false, and explain why. A. In competitive market equilibrium, social welfare is measured by the net benefits derived from consumption and production as measured by the difference between consumer surplus and producer surplus. B. The market supply curve indicates
JetSet Travel, Inc. (JTI) has been hugely successful in the distribution of stylish, comfortable shoes for travel. JTI sells its products to approximately 4000 retail accounts in the United States and a mix of independent distributors, licenses, and subsidiaries in 35 countries around the world. Most footwear products are produc
Indicate whether each of the following statements is true or false, and explain why? A. In long-run equilibrium every firm is a perfectly competitive industry earns zero profit. B. Perfect competition exists in a market when all firms are price takers as opposed to price makers. C. In competitive markets, P > MC at the pro
Determine whether each of the following would cause a shift of the aggregate demand curve, the aggregate supply curve, neither, or both. What happens to aggregate output and the price level in each case? a. The price level change b. Consumer confidence declines c. The supply of resources increases d. The wage rate incr
See attached file for full problem description.
See attached file for full problem description.
2. Of the 2 approaches (below) to cost estimation, which in your view likely produces the most reliable estimates? Explain The engineering approach to cost estimation is based on the least cost available technology needed to achieve a given level of abatement. The survey approach to cost estimation relies on estimated ab
PROBLEM: Earlier this year the rising price of tortillas resulted in major protests in Mexico City combined with a warning from the Mexican central bank that this may fuel rising inflation. In response the President of Mexico announced that the government will be setting a price ceiling on the price of corn. [Corn is the majo