Consider a society consisting of just a farmer and a tailor. The farmer has 30 units of food but no clothing. The tailor has 60 units of clothing but no food. Suppose each has the utility function U=F^1/3C^2/3 . If the price of clothing is always $1, and the food price is currently $1, then we can conclude
Question 10 options:
the market is at a competitive equilibrium. |
|
the price of food will drop towards a competitive equilibrium. |
|
the price of food will increase towards a competitive equilibrium. |
|
None of the above. |
In: Economics
Find the amount applied to principle for the third month of a 4-year loan of $11,600 which charges 4.5 percent compounded monthly with monthly payments.
The amount applied to principle for the third month is
$
(Round to the nearest cent.)
In: Economics
If the Fed sells $3 million of bonds to the First National Bank,
what happens to reserves and the monetary base? What will be the
overall effect on the money supply? Using T-accounts show at least
three steps in the deposit creation process.
Assume that the required reserve ratio on checkable deposits is
10%, banks do not hold any excess reserves, and the public’s
holdings of currency do not change.
In: Economics
300-400 words
1. Explain Default Partnership Rules under Partnership Act.
2. Explain in detail Articles of Incorporation.
In: Economics
In: Economics
In some cities, Uber has a monopoly on ride-sharing services. In one of these cities, the demand curve on weekdays is given by P = 50 - Q. However, during weekend nights, or surge hours, the demand for rides increases dramatically and the new demand curve is P = 100 - Q. Assume that the marginal cost and the total fixed cost are both zero.
1. Determine the profit maximizing price during weekdays and during surge hours.
2. Determine the profit maximizing price during weekdays and during surge hours if MC = 10 instead of zero.
3. Draw a graph showing the demand, marginal revenue, and marginal cost curves during surge hours from part (2), indicating the profit maximizing price and quantity. Determine Uber’s profit and the DWL during surge hours, and show them on a graph.
ANSWER ALL PARTS THANKS
In: Economics
What might a better model to predict fertility look like, if you could get data on any additional variables at the country level? Be sure to explain the THEORY behind including these new variables in your analysis.
Subject Econometrics
In: Economics
Please just answer the question e.
Please solve a-e questions
Consider an economy with two sectors: manufacturing and services. Demand for labor in manufacturing and services are described by these equations:
Lm = 200 - 6Wm
Ls = 100 - 4Ws
where L is labor (in number of workers), W is the wage (in dollars), and the subscripts denote the sectors. The economy has 150 workers who are willing and able to work in either sector.
a. If workers are free to move between sectors, what relationship will there be between Wm and Ws?
b. Suppose that the condition in part (a) holds and wages adjust to equilibrate labor supply and labor demand. Calculate the wage and employment in each sector.
c. Suppose a union establishes itself in manufacturing and pushes the manufacturing wage to $20. Calculate employment in manufacturing.
d. In the aftermath of the unionization of manufacturing, all workers who cannot get the highly paid union jobs move to the service sector. Calculate the wage and employment in services.
e. Now suppose that workers have a reservation wage of $10—that is, rather than taking a job at a wage below $10, they would rather wait for a $20 union job to open up. Calculate the wage and employment in each sector. What is the economy’s unemployment rate?
In: Economics
Explain what would instantly occur to Natural Real GDP given productivity rose by 1%. Then what would happen to the output ratio as a result? Why? What would we expect to happen to inflation given this effect on the output ratio. Please include explanations. Thank you.
In: Economics
Which of the following statements is true?
Employers are not concerned with determining a potential employee's productivity because they know that with experience the employee's output will increase.
Employers are not concerned with determining a potential employee's productivity because they realize that they cannot accurately determine it beforehand.
Employers are not concerned with determining a potential employee's productivity because they know that they can train the employee after he's hired.
Employers are concerned with determining a potential employee's productivity due to the high costs of training new employees.
a, b, and c
In: Economics
Expectations play an important role in macroeconomic analysis. Consumer and business confidence are major drivers of the economy in the short run.
Describe how your expectations about the future of the economy
have changed as a result of Covid-19. How are you changing your
spending patterns during this
crisis? How has the Coronavirus pandemic affected your plans for
the future? Have you reevaluated your educational and/or transfer
plans? Your career choices? Investment strategies? Are you
concerned by the large deficits that are being run to counter the
Covid-19 pandemic?
In: Economics
Talk about the pros and cons to different pricing strategies (for example complex, hard to implement, amount of producer surplus generated).
In: Economics
Draw and carefully describe a graph that utilizes the Aggregate Demand/Aggregate Supply model that would illustrate the state of the aggregate economy in the United States as of February 1, 2020. Make sure that you explain your graph in your own words. You should draw your own AD/AS graph which you can then embed into your post. Your graph needs to be clearly labeled and explained in some detail. Make sure that your graph includes an aggregate demand (AD) curve, a short run aggregate supply (SRAS) curve, and a long run aggregate supply curve (LRAS, Potential GDP) curve. You should clearly label both axes of the graph
The Coronavirus pandemic has resulted in shocks to both Short Run Aggregate Supply(SRAS) and Aggregate Demand. Workers that can’t go to work can’t supply goods and services. On your graph clearly illustrate the effects of the shocks to the economy through shifts in both the aggregate demand (AD) and the short run aggregate supply curve (SRAS)
How would you expect the shifts to affect real GDP and the price level? Explain how and why the spread of the Coronavirus is likely to affect consumer and business investment spending and how it will affect aggregate demand? Which sectors of the economy and occupations will be most affected? Be specific.
In: Economics
Successfully negotiated managed care contracts involve preparation, compromise, and collaboration, according to HFMA. It is important that healthcare organizations and constituents set forth their expectations with regard for payer needs in order realize impending benefits of successful contract negotiation.
I have to summarize the importance of managed care contracts from the perspective as a healthcare professional OR a patient. Include information about the following aspects of contracts, all from the selected perspective of either the healthcare professional or the patient: The purpose of negotiating Possible benefits and risks as a result of the established contract Why preparation, compromise, and collaboration are necessary in the process.
In: Economics
Talk about the pros and cons to different pricing strategies (for example complex, hard to implement, amount of producer surplus generated).
In: Economics