Economics questions, need help ASAP!!!?
For a given increase in demand, just how much will the price rise? For a given rise in price, just how much will supply increase? And how long will it take for the supply to increase? Consider the following: 1. The supply of 1-acre lots in Manhattan, no matter what the price. Ditto for the supply of oil when the existing oil fields are pumping as fast as they can and reserves are running out. Or the supply of passenger pigeons (or other animals hunted to extinction) 2. Even for simpler demands such as apartments, hotels, office space, etc. Just how long does it take to respond to the demand? Even grain such as corn and wheat takes a while to grow. 3. Then there are goods for which the supply simply can't increase: more than one original Mona Lisa? the supply of tickets to a specific concert at a specific venue? 4. And the goods for which the suppliers do not want the supply to increase: fancy restaurants want to stay exclusive; they don't want to grow large enough to let more people in. Ditto for providers of some other luxury goods. Some over-simplification is inevitable, but why so much when common sense tells you it ain't so?
I need help with a law/economics question. Here it is...?
In Allied Van Lines v. Bratton (Florida Supreme Court, 1977), the court writes, “No party to a written contract in this state can defend against its enforcement on the sole ground that he signed it without reading it.” What would be the impact if one could always get out of a contract by claiming you had failed to read it? What exceptions to this rule seem necessary for efficiency? I particularly need help with the second part of the question. I cant thing of any exceptions that are solely on the grounds of not reading the contract.
I need help on this economics question! Please look and see if you know it!?
The Federal Reserve is called "independent" because: A. Congress and the President cannot override the Fed's decisions. B.The President of the United States designates who will be chairman of the Board of Governors. C. Monetary and fiscal policy are separate policy tools. D. There are 12 different Federal Reserve banks.
I need help with this economics question?
The equilibrium should be when the two equations equal the same. Therefore, you can say 800-2QD=200+QS. Simplify it into 800-200=QS+2QD. 600=QS+2QD 200=Q Breakeven is 200. Plug 200 into one formula to get the price and into the other as a check figure. P=800-2(QD) P=800-2(200) P=400 400 cents = $4.00 P=200+QS P=200+200 P=400 The numbers agree.
I need help on my economics homework. The question is, What are the Fixed Costs and Variable Costs for a car wash business? Is it likely to experience economies of scale?
Thanks for being honest that this is for homework.Fixed costs are things that do not change based on your number of customers : rent, equipment, labor costs for a cashier(there for set hours even if no one shows up).Variable costs are directly related to your number of customers : soap, water, electricity to run the machines (assuming automatic car wash), or labor if a manual car wash.Economies of scale refer to businesses that get cheaper to run (per customer) as your number of customers increases. For an automatic car wash, variable costs are low but once it's running at full capacity, you can't really add more customers. For a manual, your main cost is labor, which doesn't get cheaper with scale.
Some economics help please.. i need help understanding a question?
A very important question. It is all about political science, ethics, and values: by what criteria should a proposed law be judged? The objections voiced are not whether tradeable emissions permits reduce the total pollution level, or whether or not they are the best way of doing so, but of a side effect that they may have - that people who have "sinned" by polluting greatly may get rewarded for having sinned while those who were virtuous and did not pollute do not get rewarded. Note that this righteousness has been an ongoing theme in American politics. For example, just before the Civil War, a compromise was proposed by which slavery would be abolished and all slave owners would be compensated for their loss by the government. But the abolitionists objected to letting the slave owners "profit" from having owned slaves, rejected the compromise, and we had the Civil War (this isn't to say the compromise would have worked - just that it was rejected) http://members.aol.com/jfepperson/garris... You also see this factor in discussions about drug laws: everyone recognizes that the existing drug laws do not work very well. Some argue that a law that is bad and not respected should be abolished. Others argue that repealing the drug laws would make it seem that drug use was acceptable and they are morally outraged at that possibility. More generally, the issue of compromise in politics is a thorny one. Some see it as essential, while others see it as succumbing to the lures of the devil. http://atheism.about.com/b/2006/01/24/ch... http://www.thudfactor.com/uncategorized/... http://acuf.org/issues/issue62/060626news.asp BTW, here is an interesting paper on "Cool Analysis Versus Moral Outrage in the Development of Federal Environmental Criminal Law" http://eprints.law.duke.edu/489/1/35_Wm._%26_Mary_L._Rev._251_(1993-1994).pdf
Two Economics Questions, please I need help on answering them?
reinvestment in one year you will receive exactly Wat the market you invest on , for that year, the following year if you do not move to mack a Chang the Bank will reinvest the Manny ,including the interesting for that year for the new rate Wat ever is.so if the market is one year 6% an 2years 7 % you must tack the 6%, this way you can drow you manny to the end of the year and renvest it .remembr do not envest all you monny for moltible years anles you do not neat it.alwes in vest you monny in two parts, for hight yeall, a secon for the evelebility,. alwes have a flexebility in case you nead the monny or you will pay fine.
I need help with an economics discussion question=) Please=)?
The class has 40 students and a combined total weight of 6,000 pounds. Thus, the average student weighs 140 lbs. If we add, the jockey to the class, the marginal weight is now 100 lbs, which is far less than the previous average of 140. Thus, we would expect the class average to decline. The same is true in the world of business. If the marginal cost of production is lower than the current average, then average costs will decline with an increase in production. If we add, the wrestler to the class, the marginal weight is now 350 lbs, which is far greater than the previous average of 140. Thus, we would expect the class average to increase. The same is true in the world of business. If the marginal cost of production is greater than the current average, then average costs will increase with an increase in production.
Multiple economics question, help please
1. The introduction of a tariff will be expected to a. reduce imports (right answer??) b. increase the prices of exports but have no effect on the level of imports c. reduce the prices of exports but have no effect on the level of imports d. increase exports e. increase imports 2. If the US imposed a quota on motorcycle imports from Japan it would lead to a ______ quantity imported, and a ______ quantity produced in the US a. lower, higher(right answer??) b. lower, lower 3. The motive for the erecting trade barriers to import goods and services from abroad is to a. protect and benefit special interest goods in that nation b. reduce the prices of goods & services produced in that nation(right answer??) c. expand the export of goods & services to foreign nations 4. high protective tariffs a. would be supported by most economists(right answer??) b. will become more likely if we do not reduce our trade deficit c. have very little support d. would definitely solve all our trade problems 5. Despite long-term mutual gains from international trade, in the short run... a. particular firms, industries and groups of workers can be harmed substantially by imports(right answer??) b. international trade is usually inflationary c. countries must learn to be self-sufficient d. most countries realize mutual net losses e. hardships must be incurred to initiate the trade
Engineering economics question! (2nd year )Urgent help needed please!!?
A company invested $500,000 of fixed capital in a manufacturing process which is estimated to generate an after tax cash flow of $200,000 in each of the next 5 years . At the end of year 5, no further market for the product and no salvage value for the manufacturing process is expected. If a manufacturing problems delays the plant start-up for 1 year ( leaving only 4 years of process life) , what additional after tax cash flow will be needed to maintain the same internal rate of return as would be experienced if no delay occurred?