Homework Help for Economics

What would you gess about the products cross elasticity of demand for:

Shoes and Sneakers;

Gasoline and SUVs;

Bread and butter; and

Instant camera film and regular camera film

a. Do you expect it be a positive or a negative?

b. Do you expect it to be a large or small number? Why?

Suppose that Allison has an accounting degree, but she lost her job two months ago when her company merged with another firm. Allison hasn't been able to find another accounting job, so she has taken a part-time job as a sales clerk at a clothing store. As a result the official unemployment rate will:

decrease

increase

not change

increase temporarily, then fall back to its original level

Imagine a consumer shopping for a used car is worried about getting stuck with a lemon, finds two that appear very similar. One car costs just about what the individual expects this make and model to cost, while the other costs only half as much. Briefly explain the problem confronting this consumer? Give an example of another market where similar problems arise.

10. What three forces lead to the WWW❝s emergence as the single most dynamic force in information technology?

Why do most cases settle out of court? [Explain what conditions tend to increase the likelihood of settlement and why they are likely to be present in court cases.] If, instead of settling, more cases had to be tried in court, what would this imply for the standard of negligence that is appropriate in tort cases?

In past week, what did you see the pricing in your life? Write up Pricing journal by giving a daily life example of the term of " Versioning", Versioning tradeoff", "Price bundling" and "Prospect Theory"

Write up 1-2 pages

2) An alternative requires $14500 to be paid monthly over thecourse of year 1, year 2, year 3 and year 4. All values are inconstant dollars. Using the tables in the chapter, compute the NPVof this alternative. Round intermediate calculations to two decimalplaces.

A) $633,412
B) $653,788
C) $696,000
D) $662,070

Evaluate why households tend to increase their annual spending flows more in response to permanent tax cuts than to temporary tax cuts.

describe one important criticism of Rostow's stages of economic growth theory.

While most of your friends in college have dreams of going into corporate positions, you have always wanted to start your own business and be your own boss. After some preliminary study at the US Small Business Administration site, you see one of the first steps in starting a business is to develop a comprehensive business plan. This step is vital in laying out a strategy for success and in acquiring funding for the business. Your personal dream has been to market a new product with one of your friends. You'll need to borrow money to start the business and so you decide to write a business plans. Review the basics of the business plans at the US Small Business Administration site. While a real business plan would be quite massive in detail, for the purposes of this exercise you'll be addressing only a very small portion of a total business plan. To see how other businesses have written their plans, please feel free to go to the sample business plans site at B Plans Inc. http://www.bplans.com/sp/businessplans.cfm Your assignment is to develop a PowerPoint presentation presenting your idea to HIGHLAND VENTURE CAPITALISTS in order to obtain funding for your business --a new bottled water company (or any other company of your choosing.) Starting with a named, well- defined business: 1. State your company mission 2. Will there be a physical store or will you sell it on the Web? 3. What needs does your business fill and why is it different than other similar products? Who are the potential customers for your product and why will they purchase it from you rather than your competitors? 4. How will you reach your potential customers? 5. What form of business organization will you use and why? What steps will you take to obtain that form of organization? 6. What laws must you comply with regain the sale of this particular product?

What is the profit maximum condition under perfect competition? Under perfect competition the demand curve faced by a single firm is infinitely elastic but the market demand curve is not. Why?

Consider the advertisement industry, where firms hire models (workers) to shoot advertisements.
Each model works for only one firm. Each worker (model) comes in with a different
hair style, which can be divided into 24 types. In other words, the hair style wheel is like a 24-
hour clock. Each firm enters the market and makes one advertisement. Each advertisement has
a specific requirement for hair style. If a model’s hair style does not match the advertisement’s
requirement, the model must spend money redoing the model’s hair in order to close the gap. The
cost of re-styling is $2 for each unit of hair style shift. For example, to go from style #3 to style
#2, the cost is $2; to go from style #5 to style #2, the cost is $6. Each advertisement requires two
models. There are two cities in the region: Smallville has 4 models and Bigburg has 12. The gross
wage for each model is $50.
2
Assume that models are evenly distributed around the hair style wheel. Compute the net wage
for models in each of the two cities.

1. Using the concepts learned in this course evaluate all three of the following statements. a) Cigarettes are addictive. Increasing price will not reduce quantity demanded b) When the demand increases. This increase in Price then reduces demand. c) Increasing the minimum wage of $15 per hour will increase the standard of living for low income workers

Should political leaders allow poll results to influence their decisions? Do you think public opinion regarding this budget will have any impact? What is your opinion of this proposed budget? Is it in keeping with Trump’s campaign promises to West Virginians?