News Article Analysis Topic: Demand and Supply Headline: Used- car shortage looms as curbs bite Source: The Strait Times Date: 25th May 2013 Summary Supply of used-cars has decreased from 7000 to 2400 because MAS (Monetary Authority of Singapore) lifted loan curbs on these vehicles for 60 days. Moreover‚ suppliers are unable to increase supply of used cars since owners are not selling due to future loan restrictions. Under the old scheme‚ car buyers can borrow up to 100 percent of the purchase
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Questions 2. Assume a monopolist faces a market demand curve P = 100 – 2Q‚ and has the short-run total cost function C = 640 + 20Q. What is the profit-maximizing level of output? What are profits? Graph the marginal revenue‚ marginal cost‚ and demand curves‚ and show the area that represents deadweight loss on the graph. 3. In question 2‚ what would price and output be if the firm priced at socially efficient (competitive) levels? What is the magnitude of the deadweight loss caused by monopoly
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ECO 5305 Final Exam Answers underlined in yellow 1. Fixed costs include: a. variable labor expenses. b. output-related energy costs. c. output-related raw material costs. d. variable interest costs for borrowed capital. 2. Marginal cost equals: a. average variable cost at its maximum point. b. the change in total fixed cost divided by the change in quantity. c. the change in total variable cost divided by the change in quantity. d. total cost divided by quantity
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stabilize the economy; to protect businesses‚ consumers‚ investors‚ and competition; to conserve the environment; to regulate working conditions; and to protect business property. Both state and federal laws govern mergers and acquisitions. State laws set the procedures for the approval of mergers and establish judicial oversight for the terms of mergers to ensure shareholders of the targeted company receive
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Note Book Chapter 1 Getting Started 1.1 DEFINITION AND QUESTIONS 1. Scarcity is the condition that arises because wants exceeds the ability of resources to satisfy them. 2. Scarcity is the condition that arises because wants exceed the ability of resources to satisfy them. Scarcity is not eliminated when people become rich‚ movie goers are able to see the next The Social Networ installment‚ or people gain employment because of the movie’s release. In all cases‚ people will have wants that
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Prompt: Explain why conceptions civil rights or liberties (choose only one) which are supposed to be granted to all under the constitution‚ changed so greatly in the second half of the twentieth century. Make sure to discuss the court’s role in this shift. A civil right is a right or privilege that represents protections by government power or things government must secure on behalf of its citizens. Examples of civil rights are freedom of speech‚ press‚ and assembly; the right to vote; freedom
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of the rods will have length of more than 122.5 mm? If 10% of rods were to be rejected for being too short‚ what is the minimum length of the rods that will accept? What is the assumption you have made in your calculation? (20 marks) END (c) Set 1 Page 1
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that the price of good A is $4‚ the price of good B is $2 and the consumer’s income is $60. Which of the following baskets is not on the consumer’s budget line? Response: A = 20‚ B = 5 * Edit Question 9 The budget line Response: represents the set of all
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Traveling Mindset vs. Home Mindset Does having a closed mind set benefit more than a open mind set? Being open minded is having a mind embarks on new ideas‚ exploring and arguments. Being close minded is not open to new ideas and exploring. What does open minded and close minded have to do with having a traveling mind set and home mind set? Having a traveling mind set‚ we carry with us no rigid ideas about what is interesting. A home mind set is being settled in expectations‚ and assured that we have
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Stability Versus Liberty Lakshmi Mittal once said: “At the end of the day you have to keep the emotions away” (thinkexist.com). However‚ this piece of advice may not be as wise as one may think. The novel Brave New World by Aldous Huxley demonstrates that being absent of emotions is in no way simple. The futuristic society within the novel‚ The World State‚ idealizes an absence of emotion in their population and therefore regulates all feelings to ensure a stable environment in an attempt to create
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