Elaborate Answers on Economics to Spin the Wheel of Fortune Today : Page - 8

Q1a. Does perfect competition, as we have defined it in the lecture, exist in the real world? Explain your answer. b. Why do we study the perfectly competitive model?   Q2a. Given the information in Table 1 for a firm operating in a perfectly competitive market, expand the table and calculate TC, TR, and profit for each level of Q. Assume TFC = $65 and P = $4. Use this data to determine and indicate the output and dollar amount at which t...

USA Initial Conditions1.We assume that the world consists of two large open economies, USA and China.  USA Initial Conditions Cd = 300 + 0.4(Y-T) – 200rw Id = 200 – 200rw Y = 1000 T = 200 G =275 China Initial Conditions CdF = 450 + .4(YF – TF) – 300rw IdF = 250 – 300rw YF = 1500 TF = 300 GF = 300 a.What is the equilibrium interest rate that clears the international goods market? Show all work&nbs...

Course Code   :  ECON UN3213

Course Title   :  intermediate macroeconomics

Ref style  :  Not Selected

4/5 

Problem 1Problem 1 Suppose you have 8 used Varian’s Intermediate Micro textbooks, which you want to get rid of. There are 8 potential buyers who are willing to buy your used textbooks. You know how much each potential buyer is willing to pay for a single book. Let’s call this amount the reservation price. Reservation prices of potential buyers are in the table. Buyer A B C D E F G H...

Task #1: Downloading and Analyzing Recommended SourcesTask #1) Download and/or analyze each of the following recommended sourcesTask #2) Using any source, perform a desk research on each of the following topics: Bicycle ridership (Canada, USA, worldwide) Bicycle helmet usage and market (Canada, USA, worldwide) Bicycle helmet manufacturers/brands (Canada, USA, worldwide) Bicycle helmet distribution/distributors (Canada, USA, worldwide) Bicycle he...

Practice 1: Economic Analysis of a Construction Equipment PurchasePractice 1 A construction company bought a 180,000 metric ton earth sifter at a cost of $65,000. The company expects to keep the equipment a maximum of 7 years. The operating cost is expected to follow the series described by 40,000 + 10,000k, where k is the number of years since it was purchased (k = 1, ..., 7). The salvage value is estimated to be $30,000 for years 1 and 2 a...

Course Code   :  LIBS 1520

Course Title   :  introduction to the social sciences

Ref style  :  APA

4/5 

Purpose of the ArticleYou will read the article Zombie Economics by Patrick McCormick and answer the following questions.     1.  What is the purpose of the article?   2. How is the ‘zombie metaphor’ used to relate to economics?   3. Why, in your opinion, do you think that zombies are a popular metaphor?   4. In the last paragraph of the article, the author offers a solut...

Course Code   :  ECO119

Course Title   :  intermediate macroeconomic analysis

Ref style  :  Not Selected

4/5 

The Impact of Tariffs on the US NIIRU1. a. What will happen to the US NIIRU (aka NAIRU or un) if President Trump, by putting “America First,” imposes tariffs on many goods from many countries? Be sure to explain what this “shock” is; use the un equation to check.  b. Use the extended IS-LM model linked to the PC graph to examine the SR and MR effects of this “deglobalization” shock. Assume the US start...

Course Code   :  ECON 345

Course Title   :  Applied Econometrics Independent Research Project

Ref style  :  MLA

4/5 

DataChoose a topic and hypothesis of your choice, find an appropriate dataset, estimate a regression model, and present your model and results in a short essay. Interpret your model in light of the assumptions you are making when estimating regression models. You can choose any topic or dataset that might interest you. If you need some inspiration, https://ourworldindata.org/ has fascinating long-run datasets, there is also a list of many datase...

Course Code   :  ECON1006

Course Title   :  introduction to microeconomics

Ref style  :  Not Selected

4/5 

Question 1 1. Assume that a business firm finds that its profit is greatest when it produces $140 worth of product X. Suppose also that each of the three techniques shown in the table will produce the desired output.  a) Given the factor prices shown, which technique will the firm choose? Why? b) What are the profits/losses in this industry and will the industry expand or contract? c) Suppose a new technique is developed that requires ...

Course Code   :  ECON 453

Course Title   :  International Economics

Ref style  :  APA

4/5 

In this assignment you will use the World Development Indicators (WDI) database from the World Bank to compute the comparative advantage of two countries in the major sectors of gross domestic product (GDP): agriculture, industry (which includes manufacturing, mining, construction, electricity, and gas), and services. Go to the WDI website at http://wdi.worldbank.org/tables and use the sections on “People” and on the “Ec...

Course Code   :  178.300

Course Title   :  advanced macroeconomics

Ref style  :  Not Selected

4/5 

Parameters involvedSuppose a representative household’s expected utility function is given by:The utility function depends on the expected discounted sum of consumption and leisure, and is hours worked in “market activities”. The expectations operator is E, and the discount rate is which specifies the degree of patience. A high value means more patience for consumption and leisure. The parameter is  and denotes the valu...

Course Code   :  ECO2101

Course Title   :  microeconomics

Ref style  :  Not Selected

4/5 

Overview of the ProjectThis project involves choosing product market(s) for your project analysis, using microeconomics concepts discussed in Lectures 1 to 5. The product or service market can be either general or specific, local or international. Some examples of product or service market: • Smartphones (general)• Apple iphone (specific brand in the smartphone market)• Starbuck Coffee in China (local, specific to a country)&bu...

Microeconomics vs MacroeconomicsIn this Assignment, you will be assessed on the following outcome: Evaluate opportunity costs in the business decision-making process. 1. Analyze whether each of the following is primarily a microeconomic or macroeconomic issue.  Briefly explain your answers. i.Setting the price for a cup of coffee. ii.Measuring the impact of tax policies on total household spending in the economy. iii.A household&rsqu...

Course Code   :  ECO 101

Course Title   :  microeconomics

Ref style  :  MLA

4/5 

Conditions for Perfectly Competitive MarketsRead Openstax text Ch 8: Perfect Competition and Review the Perfect Competition Tutorial. 1. A perfectly competitive market price is determined by the forces of supply and demand. The “demand curve” facing the firm is horizontal which means that it is a price taker and cannot influence market price but can sell as much as it wants at that marketprice. It also means that the market price...

Guidelines/Formative Tasks The following formative tasks are DIRECTLY RELATED to the final assessment of this module. The report you will have to submit will include MOST of the following elements. You will receive feedback in class on your preparation (which will help with your assignment). You will be able to use your findings to prepare you for the Guest Speaker lectures and to underpin discussions in class. The Class ...