Clear Channel, an owner of multiple radio stations with the Top 40 format, recently bought rock concert promoter Live Nation. How would this affect prices for concert tickets or rates for radio programming?
1. In recent years, firms seeking to simplify the process of selling their products to busy customers have been turning to online apps, or Web-based application programs. One increasingly useful type of app for many small businesses is the quick-response (QR) app. Middlemen companies, such as Kaywa AT and Scanbuy, Inc, offer these apps. The apps enable sellers to create codes they can place on […]
POSSIBLE ANSWERS: 1) all of the production plans are feasible 2) plans (a), (b) and (c) are feasible, plan (d) is NOT feasible 3) plans (a), (b) and (d) are feasible, plan (c) is NOT feasible 4) plans (a), (c) and (d) are feasible, plan (b) is NOT feasible 5) plans (b), (c) and (d) are feasible, plan (a) is NOT feasible 6) two of […]
Play the Fed Chairman Game and write a summary
Discuss the Neoclassical and Neo Growth theories and then identify and discuss those characteristics features of the small developing island economies of South Pacific that pose obstacles to their economic growth. What general policies would you recommend to these island nations in order to boost their economic growth?
1. In decision-making under uncertainty, explain why “expected utility” is preferred to “expected value” in consumer’s optimization. Describe a situation where maximizing “expected utility” and maximizing “expected value” are equivalent. 2. An individual has a utility function represented by U(I)= , where I is her annual income in dollars. 2.1 is the individual risk loving, risk neutral or risk averse? 2.2 Suppose this individual has […]
The price elasticity of demand for a particular cancer drug is equal to zero and the price elasticity of supply is equal to 0.50. If a $1 excise tax is levied on producers, how much of this tax will eventually be paid by consumers?
What is the difference between contractionary and expansionary monetary policy? What are the pros and cons of using expansionary and contractionary monetary policy tools under the following scenarios; depression, recession, and robust economic growth? Which do you think is more appropriate today?
Two firms can either reduce their rice or keep them at present level, if a firm A cuts prices, it will earn 10 million profit if firm B also cuts prices, and 20 million if firm B does not changes the prices, if firm makes no price change, it will earn 0 if firm B reduces prices and 5 million if firm B makes no […]
If Eric’s annual income decreases from $100,000 to $20,000 and his purchases of generic peanut butter increases from 0 to 10, what is his income elasticity of demand for this item? 0.67 1.5 -0.67 -1.5
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