What is meant by a bubble? Consider whether the increase in the price of bitcoin in 2017 is a bubble.
What is meant by a bubble? Consider whether the increase in the price of bitcoin in 2017 is a bubble.
Homework Answers
A bubble is the peak where a product or a service reaches a high where its burst is inevitable i.e. it does not live up to the hype. The Bitcoin was believed to be a revolution and was introduced on the lines of digital currency. Bitcoin when its was initially traded, surged past the $20k dollar mark for one unit and has almost now plunged 80%. It did not gain any recognition as a legal tender and also was seen as a means to avoid taxes by the rich. Also, the network has become congested leading to its fall.
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What is meant by a bubble? Consider whether the increase in the price of bitcoin in 2017 is a bubble.
Cryptocurrencies saw a huge increase in price between the beginning and end of 2017 due in...
Cryptocurrencies saw a huge increase in price between the beginning and end of 2017 due in large part to a speculative bubble. It can be useful to think of cryptocurrencies as foreign currencies. For the sake of this question, assume that all cryptocurrencies are converted to Bitcoin before being exchanged for domestic currencies (this means that you can think of "cyrptocurrencies” as a single type of foreign currency). a) (5 points) What would happen to the price of cryptocurrencies if...
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2016 2017 Increase in Income Due to Revenue Increase in Costs Due to Direct Labor Jobs Billed (units sold Selling Price Labor Hours Cost Per Hour Support Capacity Cost of Support Support Per Job 50 2,00030,000 24,000 27,000 36 60 168,000 180,000 2.800 3,000 40 Due to Growth Due to Growth Units Sold in 2017 Units Sold in 2016 Increase in Units Sold Selling Price in 2016 35 60 Hours in 2016 Increase in Units Sold Expected Hours in 2017...
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Cryptocurrencies saw a huge increase in price between the beginning and end of 2017 due in large part to a speculative bubble. It can be useful to think of cryptocurrencies as foreign currencies. For the sake of this question, assume that all cryptocurrencies are converted to Bitcoin before being exchanged for domestic currencies (this means that you can think of "cyrptocurrencies” as a single type of foreign currency). a) (5 points) What would happen to the price of cryptocurrencies if...
2016 2017 Increase in Income Due to Revenue Increase in Costs Due to Direct Labor Jobs Billed (units sold Selling Price Labor Hours Cost Per Hour Support Capacity Cost of Support Support Per Job 50 2,00030,000 24,000 27,000 36 60 168,000 180,000 2.800 3,000 40 Due to Growth Due to Growth Units Sold in 2017 Units Sold in 2016 Increase in Units Sold Selling Price in 2016 35 60 Hours in 2016 Increase in Units Sold Expected Hours in 2017...
1. What is meant by price elasticity? 2. Define the terms elastic and inelastic (in words). 3. What range or price elasticity coefficients correspond to the following: a. elastic demand b. inelastic demand c. unit elasticity 4. What does it mean to say that a product is perfectly inelastic? Provide examples. 5. Explain the relationship between total revenue and elasticity. What will happen to total revenue when price is increased for a product with elastic demand? Inelastic demand? Unit elastic...
5. Consider the polymer from propene. In this context, what is meant by the terms a) atactic b) isotactic and c) syndiotactic Draw a segment of each to illustrate your answer. NA
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