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assume that you are an entrepreneur of a hotel what are the fixed and variable cost to be carried out in that business?
Ketchup is a complement (as well as condiment) for hotdogs. If the price of hotdogs rises, what happens to the market for ketchup? For tomato juice? For orange juice?
Classify each of the following statements as positive or
normative. Explain.
a. Society faces a short-run trade-off between
inflation and unemployment.
b. A reduction in the rate of money growth will
reduce the rate of inflation.
c. The Federal Reserve should reduce the rate of
money growth.
d. Society ought to require welfare recipients to look
for jobs.
e. Lower tax rates encourage more work and more
saving.
Question 29
If a demand curve and a supply curve can be stated functionally as QD = 100 - 5p; and Qs = 90 + 5p, respectively, then the
equilibrium quantity and price would be
Q=50-4P
Q=15+P
what is the surplus in the market if the government sets a price floor of P=10?
d) what is the shortage in the market if the government imposes a price ceiling of P=5?
e) calculate the price elasticities of demand and supply when P=7
f) calculate the price elasticities of demand and supply when P=10.
c. Jack and Jill went up the hill to a gas station that does not display the prices. Jack says, “Give me $10 worth of gas.” Jill says, “Give me 10 gallons of gas.”
What are the price elasticities of demand for gasoline of Jack and of Jill? Explain.
d. Can you explain why farmers during a depression might approve of a government program requiring that pigs be killed and buried under the ground?
e. Look at the impact of the minimum wage shown in Figure 4 -12 . Draw in the rectangles of total income with and without the minimum wage. Which is
larger? Relate the impact of the minimum wage to the price elasticity of demand for unskilled workers.
a. The world demand for crude oil is estimated to have a short-run price elasticity of 0.05. If the initial price of oil were $100 per barrel, what would be the effect on oil price and quantity of an embargo that curbed world oil supply by 5 percent? (For this problem, assume that the oil-supply curve is completely inelastic.)
b. To show that elasticities are independent of units, refer to Table 3-1. Calculate the elasticities between
each demand pair. Change the price units from dollars to pennies; change the quantity units from millions of boxes to tons, using the conversion factor of 10,000 boxes to 1 ton. Then recalculate the elasticities in the fi rst two rows. Explain why you get the same answer.
Diminta :
a. hitung biaya produksi marginal pada 2500, 5000,7500 untuk keluaran
b. nyatakan keluaran sebagai fungsi dari biaya marginal . Hitung tinkat keluaran dimana MC = 100,125,dan 150
c. Hitung tingkat keluaran yang memaksimalkan laba pada harga grosir dalam industri tersebut stabil pada 150 per chip dan karena itu p = MR = 150.
#339914 on Dec 2023