1. Using the data in Table 2.3, calculate average fixed cost and average variable cost. Plot these on a graph with the average total cost and briefly explain the result.
2. When should a business cease production in the short run?
3. What costs need to be covered in the long run?
1. What are the main production decisions which have to be made?
2. What does a production possibility curve show?
3. What are the main justifications for the entrepreneur’s profit?
1. Using the formulation in Section 10.3, plot the bet size (m) as a function of the maximum predicted probability 
2. Draw 10,000 random numbers from a uniform distribution with bounds 
(a) Compute the bet sizes m for 
(b) Assign 10,000 consecutive calendar days to the bet sizes.
(c) Draw 10,000 random numbers from a uniform distribution with bounds 
(d) Form a pandas series indexed by the dates in 2.b, and with values equal to the index shifted forward the number of days in 2.c. This is a t1 object similar to the ones we used in Chapter 3.
(e) Compute the resulting average active bets, following Section 10.4.
1. What do you see as the role of the Internet in building brands? How would you evaluate the Web site for a major brand—for example, Nike, Disney, or Levi’s? How about one of your favorite brands?
1. What do you see as the role of the Internet in building brands? How would you evaluate the Web site for a major brand—for example, Nike, Disney, or Levi’s? How about one of your favorite brands?
1. What do a price ceiling and a price floor have in common? A. They increase the price of a good or service B. They decrease the price of a good or service C. If they are effective, they both decrease the quantity bought and sold of a good or service D. If they are effective, they both are considered by everyone to be better than the equilibrium E. They have nothing to do with the government
1. What could be the underlying causes of demand-pull inflation?
2. In cost-push inflation, cost rises are ‘exogenous’. What does that mean?
3. What is the quantity theory of money?
1. What criticisms do monetarists make about a large PSNCR?
2. What are open market operations?
3. When did special deposits cease to be used?
1. What caused the shrinkage of the public sector in the 1980s?
2. Give three arguments for nationalization.
3. What is marginal cost pricing?
4. What were three reasons for privatization?
5. How do merit goods differ from public goods?
1. What asset and liability accounts might the AAA use to record its transactions?2. List at least two transactions that the AAA might record.
Hi there! Click one of our representatives below and we will get back to you as soon as possible.