Benefit-Cost Analysis Presentation Choose an interest group to whom you will address your presentation. The Learning Team will play the role of a team of environmental analysts reporting on the costs and benefits of this mining proposal to the concerned interest group. Address the concerns of this interest group. Recommended interest groups include the following: […]

Prompt: Imagine you are the chief financial officer (CFO) of JPMorgan Chase & Co. Given the positive macroeconomic trends, including improvements in labor market conditions, the Federal Reserve recently increased the federal funds rate. With the continued improvement in economic outlook, the Federal Reserve is poised to increase the federal funds rate again in the […]

Imports increase the domestic supply and lead to lower prices for consumers.  Exports reduce the domestic supply and push price upward.  The net effect of international trade is an expansion in total output and higher income levels for both trading partners (law of comparative advantages).   “Imports destroy jobs; exports create them.  The average American […]

Q1: How has the Covid-19 pandemic impacted the on-demand food services delivery marketplace?   What features or practices have made Instacart successful? What challenges do grocery and meal delivery services face? Have you used any grocery (e.g., Amazon) or food/meal delivery (e.g., Grubhib, Uber Eat) services? If so, what was your experience? For example, which […]

Democracy and Taxes After reading Special Topic 1 and Special Topic 2, write a 2-page paper answering and describing:  Can democracy survive if a majority of the citizenry pay little or nothing in taxes while benefiting directly from a higher level of government spending?  Why or why not?  Discuss.

Changes to Supply, Quantity Supplied, Demand, and Quantity Demanded Using the table, for each line item and its associated column, describe how the market for each specific product will be affected by the associated event indicating whether it will rise, fall, or no change.  For example, in the first line item for the market of […]

Scarcity and choice are the two essential ingredients of economic analysis.  A good is scarce when the human desire or need for it exceeds the amount freely available.  As a result, society must choose the most efficient manner of allocation of those scarce resources.   Based upon scarcity and choice, why is it not possible […]

A profit-maximizing price searcher will expand output as long as marginal revenue either exceeds or is equal to marginal cost, lowering its price or raising its price until the midpoint of their demand curve and highest total revenues are achieved.    Why are oligopolies able to earn both short-run economic profits and long-run economic profits, […]

Profit-maximizing firms will hire additional units of a resource up to the point at which the marginal revenue product (MRP) of the resource equals its price.  With multiple inputs, firms will expand their use of each until the marginal product divided by the price (MP/P) is equal across all inputs   What is the link […]

To maximize profit, a price taker will expand its output as long as the sale of additional units adds more to revenues (marginal revenues) than to costs (marginal costs).  Therefore, the profit-maximizing price taker will produce the output level at which marginal revenue (and price) equals marginal cost.   In a price-taker market, if a […]