What were the most important economic and social effects of the invention of the printing press? Was the printing press good or bad in the long-run for Europe?

XYZ Cable Co. is trying to decide whether to bundle 2 channels: its “Sports” channel and its “History” channel. It has identified 2 type of customers who regularly subscribe to these channels, “Sports Nuts” and “History Buffs”.

Below is the willingness to pay of Sports Nuts and History Buffs for each of the channels.

Assuming that the incremental cost of serving 1 more customer for both channels is zero:

1. If you decide to have a separate price for each channel (2 prices), what is the optimal price and what are your profits? What is the consumer surplus? Show your calculations.

2. If you decide to bundle the 2 channels, what is the optimal price and what are your profits? What is the consumer surplus? Show your calculations.

You own 2 restaurants serving the exact same type of food.   The menus of meals and drinks served are exactly the same.

Suppose that the costs of each restaurant are exactly the same.

Suppose further that the number of potential customers for each restaurant is exactly the same.

One restaurant is located in a wealthier section of town; one restaurant is located in a poorer section of town.

1. Should each restaurant have the same prices on their menus or different prices at each location? If different prices, which restaurant should have the higher prices and which restaurant should have the lower prices? Why?

2. How does your pricing policy above benefit you? Explain why.

1. Ore-Ida is the one of the largest potato processors in the world. Explain why Ore-Ida buys it potatoes from farmers instead of growing potatoes itself?
2. Why would Ikea, a wood furniture and home furnishings manufacturer, buy forests and woodlands?

John is an accountant and just earned your CPA. John has decided to open up John’s Tax Service on Main Street. He leases a storefront:   his office in the storefront has glass all around it. John has hired an administrative assistant who sits outside his office. His administrative assistant answers phones, receives and sends emails, sets appointments and other administrative type work. Assuming that John spends most of his time inside the office, should John pay his administrative assistant an hourly wage, piece rates or a % or profits? Explain why.

a market has a demand curve p= 700- 2q. the supply curve for the market which is also the monopolists marginal cost curve is given by p= 100 + q. calculate the change in quantity, price, consumer surplus, and producer surplus going from a perfectly competitive market to a monopoly

Does the official unemployment rate overstate the true level of unemployment, understate the true level of unemployment or accurately measure the true level of unemployment? Be certain to clearly and carefully explain your answer.

In the book "The Shifts and the Shocks" by Martin Wolf, of Chapter 4 How did finance become fragile? What was the reason?

Question: - 1(a). Should a nation tend to export or import goods for which it has a comparative advantage? Explain. Why do economists oppose policies that restrict trade among nations? (Minimum 500 words).

(b). Maria can read 20 pages of economics in an hour. She can also read 50 pages of sociology in an hour. She spends 5 hours per day studying.

a. Draw Maria’s production possibilities frontier for reading economics and sociology.

b. What is Maria’s opportunity cost of reading 100 pages of sociology?

***Please I do not want answer from internet

***Plagiarism not allowed

(a) What is the compensating variation? What is the equivalent
variation? What is the diference between them?
(b) You consume two goods, good x and good y. These goods sell
at prices px = 1 and py = 1, respectively. Your preferences are
represented by the following utility function: U(x; y) = x + ln(y):
You have an income of m = 100. How many units of x and y
will you buy and what will is your utility? If px increases from
$1 to $2; gure out the compensating variation (CV) associated
with price change.
(c) If instead your utility is U(x; y) = ln(x) + y; figure out the com-
pensating variation (CV) as px increases from $1 to $2:
(d) Are the compensating variations the same for both of the above
utility functions? Explain your answer rigorously.

(a) If your utility is represented by u(x; y) = min(x+2y; 2x+y);what do your indi¤erence curves look like?

(b) Given your answer in (a), obtain the MRS (marginal rates of sub- stitution).

(c) Suppose the prices of x and y are px = $3 and px = $1 and you have 100 dollars. What would you choose?

(d) If px decreases to $1; what would you choose? (e) Use the Slutsky decomposition to decompose the total price e¤ect into the substitution e¤ect and income e¤ect when px decreases from $3 to $1:

3.) Reproduce a conceptual diagram of the Schaefer Curve. Label the stable and unstable equilibrium, the maximum sustainable yield, and population dynamic movements.

(0, 5, or 10) Describe the effect (increase or decrease) on GDP, unemployment, and inflation of each of the following: (a) war, (b) elimination of environmental regulations, and (c) cuts in welfare benefits. Explain your answers.

1. Consider an economy in which there are two industries. The wage income of a worker in one industry is $10, while the wage income of a worker in the other industry is only $4. The government, however, imposes a tax of τ dollars on each high-wage worker and provides a subsidy of σ dollars to each low-wage worker in order to reduce the income differential. The government’s tax revenue is equal to the cost of the subsidies. One-quarter of the workers are qualified to work only in the low-wage industry. The remaining workers are able to work in either industry. These workers choose to work in the high-wage industry if the difference between the after-tax income of a high-wage worker (yH ) and the subsidy-inclusive income of a low-wage worker (yL ) is more than $4. If this difference is less than $4, they will choose to work in the low-wage industry. If it is exactly $4, they do not care where they work, and any division of these workers between the two industries is possible. Find all of the pairs (yH , yL ) that can occur in this economy.

2. Consider an economy like the one above, except that the wages paid in the high-wage industry fall as the number of workers in that industry rises. In particular, assume that each worker’s wage income is w H = 4 + 3/p where p is again the fraction of workers in that industry. The wage income of lowwage workers continues to be fixed at $4. Find all of the pairs (yH , yL ) that can occur in this economy.