I Need Help On An Econ Question.

I really need help with this economics question!?

Do you understand the supply and demand graph?

http://en.wikipedia.org/wiki/Supply_and_...

An input is something that goes into making whatever the producers are making. If the price of the input increases, the cost to produce the product increases, which moves the supply curve left.

If you were to keep raising the cost of something until it is so expense that nobody wanted it, the supply curve would be all the way to left so that the demand curve crosses it at 0 quantity (which is all the way to the left).

Need help with economic question?

The attachment talks about two MC lines, one where you stay within your allotment and one where you go over your allotment. But you have two allotments, one for anytime minutes and one for evening and weekend minutes. They overlap in that the 350 anytime minutes are available for you to use on days, nights and weekends, but the remaining 3650 minutes can only be used nights and weekends.

Let's assume daytime hours first.

Your first MC line is horizontal from $39.99 on the y axis until you reach Q of 350 At that point your curve moves up $.35 for each additional minute. Plot a point at Q 500, where the price is $39.99 + (150 * .35)


Your evening and weekend minutes are horizontal at $39.99 until you reach Q=4,000. At that point the line deflects upward as well, the same way the other line did, plot q = 4500 and price at $39.99 + (500*.35)

I need help with the following Econ Questions:?

1.A
2.B
3.C
4.D
5.C
6.B
7.A
8.B
9.C

I need help with ECON?

This is more about your own opinion than anything else. We can't decide for you.

I think of factors of production as inputs, and although it's safe to say entrepreneurism is essential to a company to get it going, I don't see it as an input in its own right.
I see entrepreneurism as a part of labour, because in essense it is a form of labour with a specific purpose. There is also a similar notion of intrapreneurism where it's entrepreneurism within the company, as oppose to setting up a company yourself. Intrapreneurism can be said to be part of a job e.g. the person who comes up with ideas, and as such it's a part of labour.

I suppose the counterargument for entrepreneurism to be an individual factor of production is the element of entrepreneurism is required for any business to get itself running. Having just land, workers, and a bunch of machinery is not enough to get a business started; it takes something more.

If you have done enough reading on the subject matter, you should be able to decide for yourself. There is no right answer in this case.

Two econ questions??!!??!? i need help..confused...?

i have two questions left from a huge econ packet and i need help........

1) for product X, the price elasticity of demand has an absolute value of 2. this means that quantity demanded will increase by:
a) 1 percent for each 2 percent decrease in price, ceteris paribus
b) 1 unit for each $2 decrease in price, ceteris paribus
c) 2 percent for each 1 percent decrease in price, ceteris paribus
d) 2 units for each $1 decrease in price, ceteris paribus

im thinking c...
but not really sure.....

and the second question

2)Assume that Heather always maximizes her total utility given her budget constraint. Every morning for breakfast Heather has two eggs and three sausages. If the marginal utility of the last egg is 20 utils and the price of eggs is $1 each, what can we say about the marginal utlity of the last sausage if the price of each sausage is $2???

a) it must be 40 utils
b) it must be 20 utils
c) it must be 10 utils
d) indeterminate

im thinking d but i have no idea!!! please helpppppppp

Need help with Economics Questions, Please?

Question 1: An example of a transitory change in income is

A. the increase in income that results from a job promotion linked to your education.
B. the increase in income of California orange growers due to an orange-killing frost
in Florida.
C. the annual cost-of-living adjustment to your salary.
D. an increase in income from personal investments.

Question 2) When the income and substitution effects work in opposite directions,

A. it’s possible that the law of demand is violated.
B. the substitution effect is always positive.
C. the income effect is always positive.
D. Giffen goods aren’t possible.

Question 3) In a labor market where employers are cutting wages to control costs, from whose standpoint will the selection be “adverse”?

A. Good workers C. Employers
B. Poor workers D. Consumers

Thanks all you great Answers People!

I need help on my econ study guide?

You haven't asked for explanations, so I won't give any and just tell you the answers for each question - if however you do need explanations, feel free to email me for help!

The answers should be as follows:

1) C
2) A
3) B
4) D
5) C
6) C
7) D
8) A
9) C
10) D

Let me know the correct answers! :) Hope this helps :)