Need Help with these problems

Practice Problems Fall, 2004 State whether each of the following remarks is true, false or uncertain, and then give a brief (but good!) explanation as to why. Each remark is "worth" 12 points; 4 for "T, F or U", 8 for your explanation. 1. True, False or Uncertain: Sales and excise taxes are usually more harmfu ...continues

Need you to create a "Shut-Down Decision" Linear table or chart that supports my decision to not shut down.

An unprofitable firm has hired me to determine whether they should shut down there unprofitable operation or not. There are currently 70 workers at the firm that produce 300 units of output per day at the price of $30 per unit. Their workers daily wage is $100; the cost of other variables inputs is $500 per day and the firms f ...continues

Elasticity/draw a linear table/chart

The Rising Cost of Apples The price elasticity of demand is a measure of the responsiveness of demand to a change in price. If demand changes by more than the price has changed, we describe the good as price-elastic. If the demand changes by less than the price has changed we describe it as price-inelastic. The following para ...continues

4 Economics Questions...

Just answers the 4 questions below using some economic concepts. 1.) give an example that depicts the law of diminishing marginal returns. Please do not use the example for the questions below, use something else. 2.)Please give comment and what you think??? I am going to use labor examples from my old profession. I owne ...continues

Need help with last problem/the substitution effect and income effect part I have attached the file

Need Help with substituion effect and income effect part of question 4

Econmic analysis

Briefly consider the ways in which governments might influence the market for new cars?

4 economic questions...

Just answers the 4 questions below using some economic concepts. #1. Choose a real world industry and determine which of the four market structures (perfect competition, monopolistic competition, oligopoly, or monopoly) this industry is most closely related to. Be sure to support your answer by referring to the characteristi ...continues

Maximizing Profits in a monopolistically competitive model

I'm confused on a concept and I have a test coming up, so I need a bit of help on a discussion I had in class today about profit maximization I don't fully understand... Given a situation (discussed in class today) in a monopolistically competitive market (NOT a monopoly), if my price is $10 for an item and at my present rate ...continues

Economics- Conceptual exercise in maximizing profits in a Monopolistic competition model

I think I'm understanding this better, but I still need some help. I had another BrainMass TA (101733) who was very helpful with concepts (thank you), but I want to cross-reference the response I received with another independent viewpoint... Here is a discussion point that was put to the class, and I'll transcribe it verbat ...continues

microecon

See attachment for full questions. Questions include: (a) What is a production function? (b) How does a short-run production function differ from a long-run production function? (c) Explain the term "Marginal Rate of technical Substitution". (d) Why are isoquants assumed to be downward sloping?