Questions: Economics

One: (10 aims) Tom leases a farmer's room and grows pineapples. Tom engages students to gather and throng the pineapples. The forthcoming consideration sets out Tom's sum consequence register. Labor (students) Sum Products (pineapples/per day) 2 220 3 4 5 6 420 7 Calculate the final consequence of the third student; Calculate the middle consequence of three students; Over what aggregate of students does final consequence acception? When final consequence acceptions, collate middle consequence and final consequence. Two: (10 aims) Tulip growing is a entirely competitive activity, and all tulip growers keep the corresponding require curves. The communicate enjoin of tulip is $15 a throng, and each grower maximizes gain by unresisting 1 ,500 thronges a week. The middle sum require of unresisting tulips is $21 a throng, and the insufficiency middle sum require is $18 a throng. How does the compute of tulip growers transmute in the crave-run? What is the enjoin in the crave run? What is a tulip grower's economic gain in the crave-run? Three: (10 aims) What is communicate divide trial? What is tie-in sales? What is spiritless merger? What is antitrust law? Four: (10 aims) The forthcoming consideration shows the sum wealth of the 50 resolutes in the tattoo activity Name of resolutes Sum wealth (dollars) Bright Sports 450 Freckles 325 Love Galore 250 Native Birds Next 16 resolutes (each) 50 Next 30 resolutes (each) 20 Sum Wealth 2625 Calculate the four-resolute attention ratio; How would you acceptance to deal-out 1 transmute if the 50 resolutes in the tattoo activity in opposed cities distribute despite the community? Five: (10 aims) The forthcoming consideration depicts the output of a resolute that manufactures computer printers. The printers hawk for $100 each Labor Input (Workers Per Week) Total Substantial Output (printers per week) 10 200 11 218 12 14 260 15 270 16 278 Calculate the final substantial consequence and final wealth consequence at each engages 15 workers? The weekly wage remunerated by computer printer manufacturers in the entirely competitive communicate is $1 ,200. How divers workers obtain the gain maximizing mistress engage? Suppose that there is an acception in the ask-for for special computer classification. Clear-up the likely goods on final wealth consequence, final element require, and the compute of worker engaged by the resolute. Six: (10 aims) Country Poorest 40% Next Richest Bolivia 13 21 26 Chile 1 Uruguay Draw a Lorenz Curve for Bolivia Draw a Lorenz Curve for Chile Draw a Lorenz Curve for Uruguay Seven: (10 aim) Information consequence Interactive communicateing Search good Direct sale Eight: (10 aims) Draw a graph for monopolistic two-of-a-trade, clear-uping why its share replete is underneath the communicate equilibrium Nine: (10 aims) Village, a paltry isolated town, has one schoolman. For a 30-minute board, the schoolman jaw a gorgeous individual twice as fur as a meagre individual. Does the schoolman habit enjoin sagacity? Does the schoolman's pricing classification redistribute consumer excess? If so, clear-up how? If the schoolman ruled to enjoin everyone the completion enjoin that he or she would be obtaining to pay, what would be the consumer excess? In deal-out 4, is the communicate for medical use in Village efficient? Ten: (10 aims) Bud and Wise are the merely two resultrs of aniseed beer, a New Age consequence prepared to remove radicle beer. Bud and Wise are opposed to metaphor out how fur this new beer to result. They understand that if they twain proviso consequenceion to 10,000 gallons a day each, they would gain the completion attainable Joint gain of $200,000 a day - $100,AAA day each. They too understand that if either of them results 20,000 gallons a day opportunity the other results 10,000 a day, the one that results 20,000 gallons obtain gain an economic gain of $1 50,000 and the one that sticks delay 10,000 gallons obtain meet an economic waste of $50,000. They too each understand that if they twain acception consequenceion to 20,000 gallons a day, they obtain twain obtain naught economic gain. Construct a payoff matrix for the frolic that Bud and Wise must play; Find the Nash equilibrium; What is the equilibrium if the frolic is played often? If they remedy, what obtain occur to them legally?