GEORGE WASHINGTON UNIVERSITY Department of Economics Economics 011 Section 14 Prof. Steve Suranovic Fall 2012 Problem Set #2 – Answers Answer all of the following questions from the book and those below. HW #2 is due in class on Wednesday Feb 22nd . A. Questions from Text and Readings R&T Chapter 2-5 (online)‚ Chapter 2.4 Review and Practice (in printed textbook); Concept Problems 2‚ 3; (for Extra Practice complete Numerical Problems 1 – 5 (not required for HW1)) CP2. Why does the
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6.2a The objective of this problem is to found the price charged by Peter. Firstly‚ the below table illustrate all P‚ TR‚ TC‚ MR and MC when there is different Number of member served (Q). No. of member served (Q) Price per member(P) Total revenue (TR) Total cost (TC) Profit Marginal revenue (MR) Marginal cost (MC) 1 400 400 190 210 400 190 2 380 760 380 380 360 190 3 360 1080 570 510 320 190 4 340 1360 760 600 280 190 5 320 1600 950 650 240
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The respective roles of Germany and Japan in the initiation and escalation of World War II seem similar on the surface—a combination of economic ambition and racist ideology. However‚ the countries’ root motivations and the ways in which they were expressed were fundamentally different. Both Germany and Japan engaged in large-scale territorial conquests in the years leading up to World War II. Hitler and other Nazi officials in Germany advocated the concept of lebensraum‚ the natural “living space”
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Changes In The World is Flat by Thomas Friedman‚ Friedman insinuates that politics‚ globalization‚ and technology are rapidly changing the world. Friedman warns the public that America is not ready for these changes and should try to embrace them. I thoroughly enjoyed Friedman’s references to the advancements in technology. It opened my eyes and made me realize how far our civilization has truly come in such a short time period. Friedman believes that the dot-com boom played a crucial role in
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World War I sparked a multitude of significant short and long term political changes throughout Europe. In the immediate aftermath of the war‚ territory was reallocated‚ four empires fell‚ and the League of Nations was created. The creation of the League of Nations‚ despite its eventual failure‚ demonstrated a major shift in international politics from the desire to expand and conquer to the recognition of the importance of the balance of power. The Treaty of Versailles also divided Austria-Hungary
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What caused World War 1 Many different factors led to the start of the First World War. Like many other historical occurrences‚ one thing led to another and all of these factors came together to start World War 1. The main causes were militarism‚ alliances‚ imperialism‚ and nationalism‚ but many more other causes also helped spark the war. The rulers of the countries were all first cousins‚ with a lot of power that was in need of testing. The assassination of Archduke Franz Ferdinand sparked rivalry
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World War I was a time full of positive and negative things for many. American was impacted in many ways during the War. There were 3 circumstances which led to the shift in America position because of the entrance of World War I. And finally‚ how our policies are now different from before when this war was just beginning or during that time‚ Isolationism is the main one. As I mentioned‚ World War I impacted America in many ways. For example‚ on Monday‚ May 19‚ 1919‚ women finally had the right
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season in mid-July.These views spoke reams to me. The finances of many-upper class- to middle class- were suffering amidst this “Great Recession” (aka “Great Depression”). The tax base and financial base were crumbling in synchrony with the financial problems experienced across the state of Massachusetts. Here‚ the casualties were the many hard working individuals and the related industries and businesses dependent on not merely the tourist vacation dollars‚ but the demand for local arts‚ seafood industries
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Germany would fight their last major battle against the Allied Forces in the summer of 1918 in the Second Battle of the Marne. This was the last major offensive that Germany would fight in World War I. This battle was supposed to be the battle that turned the tide for Germany but‚ it ultimately led to their downfall. It began on the Month of July 15 and lasted until the 5th of August 1918 and it brought a comeback plan devised by Erich Lundendorff the Chief of Staff for Germany. The plan called
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to The Civil War lasting from 1861-1865. The Civil War was known as the bloodiest four years in American history. America was split up into two parts which were the North and South. The North was known as the Union and the South was known as the Confederacy. Jefferson Davis was the president of the Confederacy and Abraham Lincoln was the president of the Union. Jefferson Davis supported the idea of having slaves‚ unlike Abraham Lincoln who wanted to get rid of slavery. The whole war started when
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