Economic Concepts

I am preparing a booklet of the skills and information that I gained from my economics class so that I have the information for future classes. I am doing it on the Technological Industry and I need help in putting it together below is what it have to consist of. A. Industry Research Introduction (background, preview major points, set theme) B. Price elasticity of supply and demand C. Negative or positive externalities D. Wage inequality E. Monetary and/or fiscal policies F. Economic effects of the industry G. Influences that can affect the industry in a negative way H. Conclusion as described in the left column (green) (review major points, statement or tw... click for more

Economic Profit Questions - Reviews

HoneyBee Farms, a medium-size producer of honey, operates in a market that fits the competitive market definition relatively well. However, honey farmers are assisted by support prices above the price that would prevail in the absence of controls. The owner of HoneyBee Farms, as well as some other honey producers, complain that they can't make a profit even with these support prices. Explain why. Explain why even higher support prices would not help honey farmers in the long run. The New York City Parks Department doubled the annual fee for the hot-dog pushcart that had the exclusive license for the spot just south of the Metropolitan Museum of Art to $288,000. Why would anyone pay... click for more

Economic Rent

A major city just doubled the annual fee for hot dog push carts that had exclusive rights to a spot just south of a major museum of art to $288,000...why would anyone pay this much for a push cart license? Who is obtaining the economic rent for the lucrative push cart location? How much economic profit is the push cart owner most likely earning?

Economic Math

Consider an economy in which investment (I) equals 400, government purchases (G) equals 800, taxes (T) equal 600, exports (X) equals 200, and imports (M) equal 250. The consumption function is: C = 100 + 0.8(Y-T) What is equilibrium GDP? What will equilibrium GDP equal if government expenditures increase 200? What will equilibrium GDP equal if taxes decrease 200? Why are the results different?

Pricing Index

You have a price weighted index made up of two stocks, A and B. The price of A equals $30 and the price of B equals $70. What is the current value of this index? Also, what will be the percentage change in the index resulting from a 10 % increase only in the price of A? A 10% increase only in the price of B?