Economics Answers

“The Best Things in Life are Free” is a phrase used a lot. It’s found in many speeches, there are numerous articles in magazines and online titled “The Best Things in Life are Free,” The Best Things in Life are Free was a 1956 American musical movie, and “The Best Things in Life are Free” was a 1992 Grammy-nominated song recorded by Luther Vandross and Janet Jackson. Make sense of the statement, “The Best Things in Life are Free” by applying what you have learned about the marginal and total values

2. Famous Cinema Theatres sell the movie tickets for $16 per ticket for evening screenings and sell 250 tickets a night on average. They estimate that the price elasticity of demand for tickets is (negative) 0.8.

Calculate the expected number of tickets sold if they reduce the ticket price to $14

Suppose that a proposal for tax reductions associated with the purchase of capital is up for debate. Suppose too that union leaders are called upon to comment on the proposal from the perspective of how it will affect the welfare of their members as workers (not consumers). Will they all agree on the effects of the proposal? Explain your answer.

At the rate 025 per unit of commodity x 250 unit commodity was bought given for certain reasons the price of commodity x increase in #50 per unit the quantity demanded of price was reduce to #150 compute the coefficient of cross price elasticity and state the relationship between the two commodity

Suppose that a proposal for tax reductions associated with the purchase of capital is up for debate. Suppose too that union leaders are called upon to comment on the proposal from the perspective of how it will affect the welfare of their members as workers (not consumers). Will they all agree on the effects of the proposal? Explain your answer

Marginal utility measures the

You have a credit card that charges an APR of 27%. You make a variable amount of charges each month (see below) but you make the same payment amount each month: $250. If you start with a balance of $0 and borrow the amounts indicated below, what would be the balance owed at the end this year.

Month Borrowed amount

June $280

July $320

August $400

September $300

October $200

November $180

December $350

January $150

February $250

March $210

April $200

May $280

Balance after these 12 months: ?

What are the conditions for an institution to become a bank ?

Suppose that a proposal for tax reductions associated with the purchase of capital is up for debate. Suppose too that union leaders are called upon to comment on the proposal from the perspective of how it will affect the welfare of their members as workers (not consumers). Will they all agree on the effects of the proposal? Explain your answer

The manager of small candy shop operatinh in perfectly competitive market determines that his average cost for chocolates is given by 10-0.2Q +0.005Q^2 where Q is in pound per month. The market price of chocolates is expected to maintain at $8 per pound. How many pounds per month should he produce?