Christina consumes two goods, X and Y. Her utility function is given by the expression U = 2 3XY . The current market price for X is RM10, while the market price for Y is RM5. Christina’s current inco

Question Christina consumes two goods, X and Y. Her utility function is given by the expression U = 2 3XY . The current market price for X is RM10, while the market price for Y is RM5. Christina’s current income is RM500. a. Sketch a set of two indifference curves for Christina in her consumption […]

These questions are from the case Mills v. Wyman A.

Question These questions are from the case Mills v. Wyman A. From an efficiency perspective, why should the fact that the good Samaritan performed his part of the exchange before the father promised to pay prevent the court from enforcing the contract? B. Given the benefits and costs associated with enforcing contracts, what economic rationale […]

This problem considers production and comparative advantage.See the table below.

Question This problem considers production and comparative advantage. See the table below. Bushels of Soybeans 24 per acre, PENNSYLVANIA 18 per acre, MARYLAND Bushels of Wheat 7 per acre, PENNSYLVANIA 10 per acre, MARYLAND Assume each state has 100 acres of farmland to use. Use the table above to label the graph below. The graph below is an […]

ECO 365 Week 2 Assignment Markets and the Economics of the Public Sector Paper

Question In Week 2, students will employ the supply and demand model to develop consumer surplus and producer surplus as a measure of welfare and market efficiency. Students learn about welfare economics–the study of how the allocation of resources affects economic well-being–and will discover that under most circumstances, the equilibrium price and quantity is also […]

The corn user is interested in buying low in the cash market and selling high (canceling futures position taken) in the futures market. So -$0.

Question The corn user is interested in buying low in the cash market and selling high (canceling futures position taken) in the futures market. So -$0.25/ bu B) (25 points) An intra-market futures spread for commodity X is where a long position is taken in a contract for commodity X, month A, and a short […]

FINAL PAPER NEED AN A

Question In an effort to move the economy out of a recession, the federal government would engage in expansionary economic policies. Respond to the following points in your paper on the actions the government would take to address expansionary fiscal and monetary policies: Explain the actions the federal government would take while engaging in expansionary […]

You are one of the few distributors of light switches in your city.

Question Use Managerial economic theory to anwer those Questions in detail 5. You are one of the few distributors of light switches in your city. You sell your switches in large batches to building contractors. You have noticed that contractors who build residential housing are more price sensitive than contractors who build business units. Assuming […]

Economics Discussion Assignment (Keynes vs Hayek)

Question Great Debates: Keynes vs Hayek This week we have a Rap Video and some Reading to do about a long-standing debate in Macroeconomics. I think the best way to do this is to watch the video, read the material, and then watch the video again. Video here: https://www.youtube.com/watch?v=GTQnarzmTOc (Links to an external site.) And a […]

The Australian Medical Association believed that the Health Minister’s recent statement, claiming that 80% of doctors supported the reforms to…

Question The Australian Medical Association believed that the Health Minister’s recent statement, claiming that 80% of doctors supported the reforms to Medicare, was incorrect. The Association’s President suggested the best way to test this was to survey a random sample of 200 members about the issue. She indicated that the Association would be prepared to […]

The institutional research office has recently conducted a survey group of consumers.According to demographic data, the research office has given you…

Question The institutional research office has recently conducted a survey group of consumers.According to demographic data, the research office has given you the following: Typical weekly consumer income                  $800 Price of Frosty Cola                                      $10.00 per case Price of Coca-Cola                                        $20.00 per case You want to break this data down for the chief financial officer in two forms: a slope- […]

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