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How would you try to convince him that this is probably not the right way to look at international trade and its effects on the country?
Draw her indifference curve for a utility level of 24. Draw one for a utility level of 48. Are the indifference curves convex? Use graph paper - make sure everything is to scale.
How does MRS and the ratio of the prices relate to MB and MC? Based on this relationship, explain why the MRS between two goods must equal the ratio of the prices for the consumer to achieve maximu
What are the main differences between Lenin's theory of how to bring about socialism and that of Bernstein's?
Suppose the price of posters increases to $4. Calculate the new utility-maximizing point. What happens to the individual demand curve for posters?
What is the shape of an indifference curve if there are economic bads on both axies? e.g. pollution and garbage?
Skills such as welding and computer repair by graduates who make the same claims about inability to qualify for jobs that use the skills they learned in them. Why the difference?
Draw a budget constraint showing the combinations of number of reading by recent MBAs and by lawyers with hot tubs that he can obtain if he spends his entire advertising budget.
Explain what is meant by marginal revenue. Choose a business and discuss the marginal revenue of that business.
Will the entrepreneur buy the new office? Will the entrepreneur change your current consumption once he changes jobs?
You believe this figure is too large and decide to conduct you won test. IN a random sample of 60 men, you find that the mean is?
How do economists distinguish between the absolute and relative sizes of the public debt? Why is the distinction important? Distinguish between refinancing the debt and retiring the debt. How does a
State whether the following statements are true or false, and then briefly justify your answer in the space between questions. Suppose that Country A displayed at the end of 2011 a ratio of private cr
In 2005, Bob's Burgers charged $1.50 for a quarter-pound hamburger with all the fixin's, and sold 7,500 of them. In 2006, although Bob raised the price to $1.75, sales of quarter-pound burgers rose
If the nations do not specialize and trade but remain at alternative C in East and D in West, the combined production of East and West Wakovia will be how much tobacco and how much corn?
Suppose that in year 2008, the money supply is $400 billion, nominal GDP is 9 trillion, and real GDP is $4 trillion. What is the price level? What is the velocity of money?
Explore how firms in monopolistic competition differentiate their products or services to generate a market niche and therefore somewhat more control over their economic environment.
What would happen to consumer and producer surplus? How much money would the government collect due to the tax? What would be the size of the resulting deadweight loss relative to the competitive ou
What is the adjustment process that drives economic profits to zero? Why does this process not occur in less competitive industries?
Company A has announced a rights offer to raise $40 million for a new journal. The journal will review articles after the author pays a non-refundable reviewing fee of $5000 per page. The stock cur
Suppose Babsie generated the following probability distribution: Is this probability distribution discrete or continuous? Explain your reasoning. Calculate the variance of X. Show your work
A perfectly competitive firm operating in the market depicted in graph (1) is producing 311 units of output at the profit-maximizing level. What is the marginal revenue of the 312th unit?
How this arrangement with Delta and United could have caused the value of SkyWest to increase so dramatically even though it limited the amount of profit the company could earn.
Describe wage determination in a labor market in which workers are unorganized and many firms actively compete for the services of labor.
Suppose a wage increase from $25 to $27 an hour increases the number of job applicants from 52 to 66. What is the price elasticity of labor supply?