Question
Offered Price $19.00

ECON 225 Microeconomics Homework

Question # 00601064
Subject: Economics
Due on: 10/09/2017
Posted On: 10/09/2017 06:41 AM

Rating:
4.1/5
Expert tutors with experiences and qualities
Posted By
Best Tutors for school students, college students
Questions:
17169
Tutorials:
17132
Feedback Score:

Purchase it
Report this Question as Inappropriate
Question

1. Consider a nation with a large economy like the United States and a nation with a small economy like the Dominican Republic. How can the United States, with absolute advantage in production of almost all goods, benefit from trade with the Dominican Republic?

2. If a minimum wage of $8 exists in this market, what is the impact on the market? Who are the winners and losers of the minimum wage?

.0/msohtmlclip1/01/clip_image002.png">

5. You and your roommate are taking the same economics class. When it comes to doing homework assignments, your roommate draws beautifully precise graphs, while you are an extremely fast typist. Therefore, you and your roommate work on the assignments together. Which of the 12 principles is at work here?

6.Explain why economists believe that in reality production possibility frontiers have a bowed-out curvature, rather than a straight line.

7.Many college freshmen describe themselves as “pre-med” but a very small percentage of these freshmen will ever attend medical school. After the first course in biology or chemistry, many decide to major in something other than the natural sciences. Which of the 12 principles is at work here?

8.How would each of the following events affect the demand for new textbooks?

a)The price of a used textbook rises.

b)The price of college tuition rises.

c)More high school graduates decided to attend college.

Tags homework microeconomics econ college work roommate school production market states freshmen like united percentage course chemistry biology small attendmedical line7many frontiers poibility reality abowedout curvature anation decide straight aspremed sciences risesbtheprice textbook used

Tutorials for this Question
Available for
$18.00

ECON 225 Microeconomics Homework

Tutorial # 00599429
Posted On: 10/09/2017 06:41 AM
Posted By:
Best Tutors for school students, college students prof.Chor naag
Expert tutors with experiences and qualities
Questions:
17169
Tutorials:
17132
Feedback Score:
Report this Tutorial as Inappropriate
Tutorial Preview ……
Attachments
soln.zip (652.26 KB)
Preview not available.
Purchase this Tutorial @ $18.00 *
* - Additional Paypal / Transaction Handling Fee (3.9% of Tutorial price + $0.30) applicable
Loading...