Comments on: Ask Economics Question

By: karen rivera

karen rivera — Wed, 18 Nov 2009 06:47:40 +0000

what is the importance of economics to you as individual, and as in relation in to your course (accountancy).

By: ELTON

ELTON — Mon, 09 Nov 2009 11:00:12 +0000

expectations for health economics subject? (ASAP)

By: Dimitris

Dimitris — Thu, 29 Oct 2009 11:26:40 +0000

Is it possible the phenomenon to have
a relationship between GDP and house prices where
an increase of the mean GDP to lead to decreased house prices?

By: RICHA

RICHA — Thu, 29 Oct 2009 07:45:29 +0000

efficient allocation of resources is achieved to greatest extent under-:
A) Monopoly
B) Perfect competition
C) Monopolistic copetition
D) Oligopoly

By: Jasmine

Jasmine — Wed, 28 Oct 2009 06:31:21 +0000

1-Why may countries with significant immigrant populations have more entrepreneurial spirit. [4 marks] 2-discuss the risks and rewards of running a business.[7 marks]

By: Jasmine

Jasmine — Wed, 28 Oct 2009 06:24:52 +0000

1-Explain the meaning of [a]Entrepreneurial spirit [3 mark] [b]Gazelle companies [2 mark]

By: faheem

faheem — Tue, 20 Oct 2009 07:57:32 +0000

what is celling price and floor price

By: albert

albert — Mon, 19 Oct 2009 02:12:25 +0000

Suppose Bob and Tom consume books and money left over (i.e. purchasing power on
other goods). Bob’s utility function is Ubob = √xbooks + xm while Tom’s utility function is Utom =
5√xbooks + xm. Bob is wealthy with an income of $50 while Tom is less wealthy with an income of $25.
(a) Derive a demand function for books for both Bob and Tom.
(b) Suppose Bob and Tom can either own zero books or one book. Derive the willingness to pay for
a book for both Bob and Tom. Construct the “industry” demand curve for books.
(c) If only one unit was for sale, which would get the unit and what can we say about prices and
consumer surplus?
(d) Who prefers books more strongly Bob or Tom? Who has higher consumer surplus? Does higher
willingness to pay imply stronger preferences in this example?

By: mina

mina — Sun, 18 Oct 2009 01:33:49 +0000

A firm has total cost TC =25+Q2.
a). Calculate output and economic profit if price is $15, 10.
b). This industry presently has 10 identical firms. Approximate the industry’s short run supply curve with a linear equation (P = mQ+b, find m and b).
c). If total demand is given by 2P= 100-Q, after entry and exit, how many firms will be left, what is the output of each firm remaining in the industry? What is the price?

By: douglas

douglas — Wed, 14 Oct 2009 14:56:23 +0000

reasons why you would recommend the study of economics to a business