Consider the benefit and cost of Mr. T's Coffee Shop, which are indicated by the following: B(Q) = 50 + 18Q – 2Q2 and C(Q) = 40 + 6Q. Use this information to answer the following questions.
A. What is the marginal benefit, represented by MB(Q)?
B. What is the marginal cost, represented by MC(Q)?
C. At what level of output is the net benefit maximized?
What is the mechanism in the Solow model that generates growth? Whyis this an appealing mechanism?Why does it fail to deliver economicgrowth in the long run
What is meant by diminishing marginal benefits? Are you likely to experience diminishing marginal benefits for goods that you like a lot? Are there exceptions to the general rule of diminishing marginal benefits
What is meant byholding all else equal? How is this concept used when discussing movements along the demand curve? How is this concept used when discussing movements along the supply curve?
Assume your company is from North America or Europe and considering the establishment of an office in Saudi Arabia. What additional operating costs might it have to assume because of the Saudi culture?
Assume you are a manager in a multinational company that needs to send a team of three to five people to Saudi Arabia for about two weeks to investigate the feasibility of selling your products there. What advice would you give them to help assure that cultural problems do not impede their success in this task?
Do you believe that tax cuts are vital to help revive an economy in recession? Would a one-time tax cut or a permanent tax cut work better? If the US has been on a "consumption binge" for the past few years, would further tax cuts be helpful? Please read this article as you respond to this question
If the US has been on a "consumption binge" for the past few years, would further tax cuts be helpful?
The Hull Petroleum Company and Inverted V are retail gasoline franchises that compete in a local market to sell gasoline to consumers. Hull and Inverted V are located across the street from each other and can observe the prices posted on each other’s marquees. Demand for gasoline in this market is Q= 60 -10P,and both franchises obtain gasoline from their supplier at $2.80 per gallon. On the day that both franchises opened for business, each owner was observed changing the price of gasoline advertised on its marquee more than 10 times; the owner of Hull lowered its price to slightly undercut Inverted V’s price, and the owner of Inverted V lowered its advertised price to beat Hull’s price. Since then, prices appear to have stabilized. Under current conditions, how many gallons of gasoline are sold in the market, and at what price
efine and give an example of a common resource. Without government intervention, will people use common resources too much or too little? Why?
John’s Smoothie Stand at Utah’s Wasatch County’s Demolition Derby sells bananas. If John bought 55 lbs. of bananas at $.34 per pound expecting 10% to spoil, how should he price his bananas to achieve 59% on selling price?
A two-person economy: The Mechanic repairs the farmer’s tractor for $200. The farmer grows wheat, which he sells to a Mechanic for $100. The mechanic buys a dog from the farmer for $50.
a. What is the total GDP of the two-person economy as described above assuming all goods and services were final? Calculate and explain (show all work and explain in detail)
b. What is the total money supply? Calculate and explain (show all work and explainin detail)
c. What is the velocity of money? Calculate and explain (show all work and explain in detail)
In an effort to stimulate the economy in 1976, President Ford asked Congress for a
$20 billion tax cut in combination with a $20 billion cut in government purchases.
Do you consider this a good policy proposal? Why or why not?
The gravity model offers a logical explanation for the fact that
A) trade between Asia and the U.S. has grown faster than NAFTA trade.
B) trade in services has grown faster than trade in goods.
C) trade in manufactures has grown faster than in agricultural products.
D) Intra-European Union trade exceeds international trade by the European Union.
E) the U.S. trades more with Western Europe than it does with Canada
Approximately what percent of all world production of goods and services is exported to other countries?
A) 10%B) 30%C) 50%D) 100%