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What are the differences between fixed and flexible exchange rates?
Suppose you are the manager of a chain of computer stores. For obvious reasons you have been closely following developments in the computer industry, you have just learned that the government has passed a two-prong program designed to further enhance the computer industry position in a global economy. The legislation provides increased funding for computer education in primary and secondary schools, as well as tax breaks for firms that develop computer software. As result of this legislation, what do you predict will happen to the equilibrium price and quantity of software? ( show graphically)
Suppose the federal government is running a large deficit but that aggregate demand is fairly high(with a fairly low level of unemployment and a moderate level of inflation). Further assume that the nation's infrastructure is in drastic need of large investment in repair and expansion. Recognizing that any further increases in AD will cause a real increase in inflation, what do you think the government should do to significantly increase expenditure on infrastructure without making the deficit on inflation worse?
A study indicated that the average cost function for a high school is
AC=10.3-0.4Q+0.00012Q^2, where Q is the number of students in the school.
a) What size school (i.e in terms of number of students) results in minimum average cost?
b) Find equations for total and marginal cost.
AC=10.3-0.4Q+0.00012Q^2, where Q is the number of students in the school.
a) What size school (i.e in terms of number of students) results in minimum average cost?
b) Find equations for total and marginal cost.
A rich uncle gives you the choice of one of the following legacies:
a. $15,000 each year for the next 12 years
b. $13,000 each year for the next 18 years
c. $11,000 each year for the next 12 years plus a lump-sum payment of $81,000 at the end of the 18th year.
Which would you take and why? Assume that appropriate discount rate is 10 percent and all amounts would be received at the end of the year.
a. $15,000 each year for the next 12 years
b. $13,000 each year for the next 18 years
c. $11,000 each year for the next 12 years plus a lump-sum payment of $81,000 at the end of the 18th year.
Which would you take and why? Assume that appropriate discount rate is 10 percent and all amounts would be received at the end of the year.
Smith and Wesson have written a new managerial economics book for which they receive royalty payments of 15 percent of total revenue from sales of the book. Because their income is tied to revenue, not profit, they want the publisher to set the price so that the total revenue is maximized. However the publishers objective is maximum profit. If the total revenue function is TR=100,000Q-10Q^2 and the total cost function is TC=10,000+20Q+Q^2 determine A) the output rate that will maximize total royalty revenue and the amount of royalty income hat smith and Wesson would receive. B) the output rate that would maximize profit to the publisher. Based on this rate of output, what is the amount of royalty income smith and Wesson would receive? Compare the royalty income of smith and Wesson to that determined in part (a).
1. Develop a simple regression model with paint sales (Y) as the dependent variable and selling price (P) as the independent variable.
a. Show the estimated regression equation.
b. Give an economic interpretation of the estimated intercept (a) and slope (b) coefficient.
c. Test the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., β = 0) between the variables.
d. Calculate the coefficient of determination.
e. Perform an analysis of variance on the regression, including an F-test of the overall significance of the results (at the 0.05 level).
f. Based on the regression model, determine the best estimate of paint sales in a sales region where the selling price is RM14.50. Construct an approximate 95 percent prediction interval.
g. Determine the price elasticity of demand at a selling price of RM14.50.
a. Show the estimated regression equation.
b. Give an economic interpretation of the estimated intercept (a) and slope (b) coefficient.
c. Test the hypothesis (at the 0.05 level of significance) that there is no relationship (i.e., β = 0) between the variables.
d. Calculate the coefficient of determination.
e. Perform an analysis of variance on the regression, including an F-test of the overall significance of the results (at the 0.05 level).
f. Based on the regression model, determine the best estimate of paint sales in a sales region where the selling price is RM14.50. Construct an approximate 95 percent prediction interval.
g. Determine the price elasticity of demand at a selling price of RM14.50.
Economists assume that the goal of a firm is to maximize profits.
a. Explain fully how the firm achieves this goal. (10 marks)
b. Why do economists use Economic instead of Accounting profits? (2 marks)
c. Identify and explain FOUR other important goals, in addition to profit
maximization, that firms may pursue?
a. Explain fully how the firm achieves this goal. (10 marks)
b. Why do economists use Economic instead of Accounting profits? (2 marks)
c. Identify and explain FOUR other important goals, in addition to profit
maximization, that firms may pursue?
A- Explain fully the concept of net present value. Why must firms use net
present value to determine if an investment is profitable?
B- Assume that managers take two years off without pay to complete an MBA.
Use the concepts of opportunity cost and net present value to explain how
you would measure if an MBA is profitable?
present value to determine if an investment is profitable?
B- Assume that managers take two years off without pay to complete an MBA.
Use the concepts of opportunity cost and net present value to explain how
you would measure if an MBA is profitable?
The Municipal Corporation of a small college town decides to regulate rents in order to reduce student living expenses. Suppose the average annual market-clearing rent for a two bedroom apartment had been Rs.10000 per month, and rents were expected to increase to Rs.15000 within a year. The Municipal Corporation limits rents to their current Rs.10000-per-month level. Draw a supply and demand graph to illustrate what will happen to the rental price of an apartment after the imposition of rent controls. Do you think this policy will benefit students? Why or why not?
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#339914 on Dec 2023
#339914 on Dec 2023