Category: Economics

Question 1 What is the maximum amount you would pay for an asset that generates

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Question 1
What is the maximum amount you would pay for an asset that generates

Question 1
What is the maximum amount you would pay for an asset that generates an income of $250,000 at the end of each of five years if the opportunity cost of using funds is 8%?
Question 2
Suppose the supply function for product X is given by Qxs = −30 + 2Px − 4Pz.
How much of product X is produced when Px = $600 and Pz = $60?
How much of product X is produced when Px = $80 and Pz = $60?
Suppose Pz = $60. Determine the supply function and inverse supply function for good X. Graph the inverse supply function.
Question 3
Suppose the own price elasticity of demand for a good X is −5, its income elasticity is −1, its advertising elasticity is 4, and the cross-price elasticity of demand between it and good Y is 3.
Determine how much the consumption of this good will change if:
The price of good X decreases by 6%.
The price of good Y increases by 7%.
Advertising decreases by 2%.
Income increases by 3%.
Question 4
A consumer is in equilibrium at point A in the accompanying figure. The price of good X is $5.
What is the price of good Y?
What is the consumer’s income?
At point A, how many units of good X does the consumer purchase?
Suppose the budget line changes so that the consumer achieves a new equilibrium at point B. What change in the economic environment led to this new equilibrium? Is the consumer positively or negatively affected by the price change?

Questions: 1. Explain how the nominal exchange rate and the real exchange rate d

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Questions:
1. Explain how the nominal exchange rate and the real exchange rate d

Questions:
1. Explain how the nominal exchange rate and the real exchange rate differ.
2. Assuming all other things equal, what would happen to the real exchange rate under each of the
following circumstances? Explain your answer.
a. The U.S. dollar nominally (i.e. Nominal Exchange Rate=# of foreign currency/ 1 U.S. dollar) depreciates
against foreign currencies.
b. U.S. domestic prices rise faster than prices in the rest of the global economy.
3. Suppose the price of a “BigMac” sandwich is $3.41 in the U.S. Using the Law of One Price, given the
information in the following table, find the “predicted exchange rates” for the British Pound, the Euro,
the Yen, and the Peso

Your assignment is to produce an essay that adds value to the content of the fir

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Your assignment is to produce an essay that adds value to the content of the fir

Your assignment is to produce an essay that adds value to the content of the first part of the course. 
This can be a critique of some part of the course or some set of readings, an extension, an example, an application of the ideas we explored to some new context, a new theory of your own, etc. 
Ideally, the value that you add can be used in future iterations of this class.  
All lectures attached, as well as downloadable readings. Further readings and course content structure (with links) can be found in the document labelled “Course Material and Readings”. 
The audience you should write for is one of your peers in the class who has attended lectures, done the readings, and participated in class discussions. Thus you should not explain in the paper anything that such a person would be expected to know. You should also not assume that your reader is familiar with material that is not covered in the course. You are welcome to focus narrowly on some particular aspect of the course that interests you, or more broadly on the big themes that we addressed. 
You may bring to bear additional data, academic analyses, but this is definitely not required. However, if there is some easily obtainable fact or piece of information that is relevant to your argument, I would expect you to try to find it. 
Essays should be no more than 800 words in length (slightly more than three pages double spaced, using standard fonts and margins). 

Graphing Assignment # 2 – check Blackboard for the due date – This is copyrighte

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Graphing Assignment # 2 – check Blackboard for the due date – This is copyrighte

Graphing Assignment # 2 – check Blackboard for the due date – This is copyrighted material. You are given the following information about the Goodell Cargo Shipping Company, Inc. in Rochester, Minnesota. The graph you are about to construct will appear as the 3rd graph in your presentation to the Board of Directors as they try to get a handle on the supply and demand for their cargo shipping. This is copyrighted material. From 2009-2022, the prices of their cargo shipping measured in $100’s of US Dollars, was: 80, 70, 60, 50, 40, 30, 20, and 10. During that time, the corresponding amounts that the Goodell Corporation was willing to sell at those same prices, the quantity supplied, measured in 1,000’s of shipments was: 16, 14, 12, 10, 8, 6, 4, and 2. Meanwhile, the amount that consumers were willing to purchase at those same prices, the quantity demanded, also measured in 1,000’s of units, was: 1, 3, 5, 7, 9, 11, 13, and 15. The production data was retrieved from Fortune magazine, the October 1, 2023 edition on pages 67-70 in an article written by Joseph Vassar,entitled “How Much Cargo Can One Firm Ship?” This is copyrighted material. This is copyrighted material. a. In one clearly constructed, legible, and properly labeled graph created using Excel, construct the supply and demand curves that correspond to the provided data. (45 pts). This is copyrighted material. b. Referencing the curves constructed in part A, clearly state the equilibrium price and quantity. Provide actual numbers and state where they are in your graph. (3 pts). This is copyrighted material. c. Assume that there is then a change in supply, the supply increases, in the marketplace. State what would happen the equilibrium price and quantity now? And where did the curve shift on the graph? Be specific where it shifted (5 pts). This is copyrighted material. d. Again, based on what has happened in part c, and using your knowledge of the determinants of supply and demand, and referencing only the curves in part A, offer one concrete cause as to why that supply may have moved in the direction it did. Be specific. Give a real-world answer/example. Offering answers that are generic and/or are already used in the textbook will not be worth much in terms of points. (7 pts). This is copyrighted material. Graphs for this assignment must be properly constructed and created using Excel. Prepare your assignment as a Word document with embedded Excel charts. Number each step of the assignment. The assignment may be submitted to Turnitin as a Word or .pdf document. Be sure to include your name at the top of the assignment before submitting. This graphing assignment is worth 60 points. This is copyrighted material

In a market economy resources tend to be allocated optimally. Discuss how the in

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In a market economy resources tend to be allocated optimally. Discuss how the in

In a market economy resources tend to be allocated optimally. Discuss how the interaction of consumers and producers makes this happen.
United States has large trade deficits with many countries. Discuss at least two reasons for the trade deficit. Note: Your discussion must be based on positive economic analysis. Avoid interjecting your own personal opinion.
Many economists believe there is a conflict between the economic goals of growth and equity. Do you agree or disagree? Provide your reasons.

For this assignment, select a specific product made by a single specific company

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For this assignment, select a specific product made by a single specific company

For this assignment, select a specific product made by a single specific company. Select something you’re interested in and something you know about (by choosing something you know will greatly limit any actual research you’ll need to do). This project is not designed to have you do research (information on the web or in print). However, sometimes, finding some basics facts is useful.
Explain your answers. Graphs not needed. You may not know some of the answers, but the point is for you to make educational speculations about the answers using the concepts we’ve learned in this class.
Each question should be answered in 70-80 words for this assignment. (about 375 words in total)
Prompt
1) What is your product? What is the firm who makes it? In what industry does this firm operate? Why did you select this product / industry?
2) Describe a significant change in demand for this product in the recent or distant past and describe what caused that change. What do you predict will be the next significant change in demand in the future and why? Note: the change can be specific to only the product or it can be something that affects the whole industry.
3) Describe a significant change in supply for this product in the recent or distant past. What caused the change? What do you predict will be the next significant change in supply in the future and why? Note: the change can be specific to only the product or it can be something that affects the whole industry.
4) Looking at your product only (not all of the products in the industry), describe how elastic or inelastic you think demand might be and justify your position. Looking at the demand for the whole industry’s products, describe how the elasticity compares to just the demand for your product and explain any difference (e.g. elasticity of demand for all cereal versus demand for just Cheerios). Finally, describe how elastic you think supply might be.
5) Rate, using a scale of 0 (nothing like) to 10 (exactly like), how closely your industry fits the model for perfect competition? Make sure to explain your answer referring to all assumptions of the market in perfect competition model.
Include any references you used in your research at the end of your essay. As always, college-level writing is required. Grammar, spelling, and punctuation will be graded.