ExClusford, a small, liberal arts college, charges $100,000 a year for fees. They have approximately 1,000 students. With increasing costs, they decide to raise their fees to $110,000. If they then have 908 students, what is their elasticity? Are they elastic or inelastic?
Can someone help me answer the six questions below, please and thank you! 1. If the rate of job separation is 0.02 per month and the rate of job finding is 0.10 per month, what is the natural rate of unemployment?
Analyze and evaluate the impact of public policy on economic growth from an ethical and global position. Be sure to be specific as to which ethical posture you are taking. See this website for information on ethical postures.
Suppose that a program is implemented which guarantees college tuition assistance to students maintaining a minimum GPA standard. Assuming that education increases individual productivity (and workers are paid their marginal revenue product), use a basic model of human capital investment to predict and explain the effect of this program on average educational attainment and earnings. […]
ECO 304KINTRO MICROFall 2012HickenbottomHOMEWORK #4(Due 11/2/12)1. Consider a firm with the following production schedule and a fixed cost in theshort run of 19. This fixed cost comes from using the unique quantity of the fixedinput that minimizes LRAC. Assume all of the firms are identical firms in the longrun and all the firms can only […]
Profits associated with polluting for Friedman Inc. are π = 40Q – 2Q2, where Q = pollution emitted (in tons), and profits are measured in dollars. Marginal benefits (Marginal profit) from polluting, derived from this function, are Mπ = 40 – 4Q. (a) How much pollution do you expect Friedman to produce in the absence […]
The Organization of Petroleum Exporting Countries (OPEC) is an international cartel of a group of large oil exporting countries. It tries to control the price by keeping a check on the amount of crude oil produced by its member states. Is its effect on the crude oil market a harmful or a desirable act?
What is the difference between demand curve and demand schedule
1.. Do you agree or disagree with the argument that tariffs from industrialized nations negatively impact the industrialization process of less-developed nations? Reflect on what you have learned in this course thus far, and provide an example supporting your argument.
