The demand curve for Widgets is given by QD = 125 + 1.5y - 25p + 30pG, where QD is the quantity of widgets demanded, y is the per capita income and pG is the price of Gizmos. An increase in the price of Widget itself will cause Group of answer choices:
movement along the demand curve.
demand increases.
demand shifts right.
demand shifts left.
In: Economics
Suppose that a firm had a production function given by: q=L0.25K0.75. The wage rate (w) is $10 and the rental rate (r) is $10. Calculate the amount of labor the firm would hire when it produces 300 units of output in a cost-minimizing way. (Round to the nearest 2 decimal places if necessary.)
When you simplify, show steps please. I'm very confused
In: Economics
At minimum, answer the following questions Administrative Services
*FOR ADMINISTRATIVE SERVICES*
In: Economics
In: Economics
In: Economics
In: Economics
| 2015 Tax Rates | ||||
| Tax Rate | Single | Married Filing Jointly | ||
| Ordinary Income | Taxable Income over | To | Taxable Income over | To |
| 10% | $0 | $9,225 | $0 | $18,450 |
| 15% | 9,225 | 37,450 | 18,450 | 74,900 |
| 25% | 37,450 | 90,750 | 74,900 | 151,200 |
| 28% | 90,750 | 189,300 | 151,200 | 230,450 |
Instructions: Round your final answer and all intermediate calculations to the nearest whole number.
Use the tax table to compute the taxes of someone who has a spouse and three children, has income of $135,000, and takes the standard deduction. The standard deduction is $6,300 for a single person and $12,600 for a married couple. Exemptions are $4,000 for each person in the household.
Taxes =
In: Economics
In: Economics
A sales employee generates sales revenue of either $1250 or $750, each with equal probability. A manager is paying the sales employee 25% of sales revenue, and the sales person has a utility function u(x) = x0.5. What is the lowest fixed salary (ie., independent of sales outcome) the manager can pay the employee instead, so that the sales person is not worse off? (a.)$887 (b.)$667.7 (c.)$453.5 (d.)$246.1
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In: Economics
3M is an innovative business. What makes the 3M company innovative as a business and personally? Is 3M a company that largely pursues sustained innovation, or would you consider them a disruptor?
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In: Economics
Suppose a country suddenly faces an unexpected but temporary fall in export demand so there is a temporary drop in current account, i.e. CA drops temporarily. The country has a fixed exchange rate for its currency. Use a DD-AA diagram to answer the following (you do not need to show the diagram, but you do need to write in words what happens on it).
a) Indicate any movement(s) of the curves on your diagram that can be observed as a result of this activity. Explain the reasons for the shift(s).
b) What happens to the exchange rate, E, as a result?
c) What happens to national income, Y, as a result?
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Most aspects of foreign culture, like language, religion, gender roles, and problem-solving strategies, are hard for the casual observer to understand. In what ways do Hollywood movies affect national culture outside the United States? What aspects of U.S. culture do Hollywood films promote around the world? Can you observe any positive effects of Hollywood movies on world cultures?
In: Economics
you are the manager of a firm that receives revenues
of$20000 per year from product X and $100,000 per year from product
Y. The own price elasticity of demand for product X ia -2, and the
cross -price elasticity of demand between product Y and X is
-1.6.
How much will your firm's total revenues (revenues from both
products) change if you increase the price of good X by 1
percent?
In: Economics