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What aspects of your decision-making process fit the description of a rational choice? Did you consider costs and benefits? Did you pay attention to both monetary and nonmonetary factors? Did you
Our large companies seem to be largely run by hired managers who work for salaries and who are not owner-entrepreneurs. How then do we get the profit motive into large companies?
Explain two ways in which sectionalism caused conflict or tension in the United States during the early 1800s. Then explain how sectionalism affects economics and politics in the United States today.&
Suppose that there are 1,000 hot-pretzel stands operating in Toronto. Each stand has the usual U-shaped average total cost curve. Both the market demand curve and the supply curve for pretzels are lin
Much of the demand for U.S. agricultural output has come from other countries. In 1998, the total demand for wheat was Q = 3244 – 283 P. Of this, total domestic demand was QD = 1700 – 107
This problem is based on the specific factors model. Consider the economy of the Shire that produces cereals and swords. Each industry employs Hobbits, but land is specific to the production of cereal
What types of machines are used to make stained glass windows in the 21st century? Could you also please tell me the prices of each machinery.
Clearly explain the different market structure and how they determine the degree of competition among firms and how they maximise profits in the short run and long run. Cite the source within the tex
Describe the demand and marginal revenue curves faced by a firm in a purely competitive market. Are they different from those faced by a firm in oligopolistic competition? If so, why?
State the rule for optimum input allocation to produce a given level of output at the lowest possible cost -when two inputs are variable and the prices of the inputs are given. explain why it makes s
Plato, a Greek philosopher who lived from 427BC to 347BC, famously wrote that, "Necessity is the mother of inventions." Do you agree with this statement? Why or why not? My response was, " I
An online store that has been successfully growing on its initial angel investment and revenues wants to invest $5 million to expand the business. The bank is willing to lend the business this money a
A supply curve does all of the following, Uses the ceteris paribus assumption. Holds constant time, place, income, costs of inputs, costs of substitutes, and suppliers' expectations about fu
Solution?, In saying that the present system of floating exchange rates is managed we mean that: A) countries which allow their exchange rate to move freely will lose their borrowing privileges with
After 17 vehicular accidents two years ago in a given intersection, the mayor of Boulder proposed to reduce the number of crashes by making improvements at the intersection. Assuming the appropriate
Consider a consumer who has an experienced utility function given by . Let denote the market price of good , and assume that it remains fixed throughout the problem. The company selling the good
Use the Expenditure Equation for GDP (GDP = C + 1 + G + XN). Using your research skills, find the values for each sector for the years 1929 and 1933. Determine the percentage change for the two years.
Suppose Bill is on a low-carbohydrate diet. He can eat only three foods: Rice Krispies, cottage cheese, and popcorn. The marginal utilities for each food are tabulated below. Bill is allowed only 167
Suppose a random sample of size 40 is selected from a population with = 9. Find the value of the standard error of the mean in each of the following cases (use the finite population correction factor
what aspects of your decison-making process fit the description of a rational choice? did you consider costs and benifits? did you pay attention to both monentary and non-monetary factors? did yo
Which of these is most likely favored by both management and labor? A. An increase in wages B. Cutbacks in health coverage due to rising health care costs C. Establishment of a profit s
Consumption of alcoholic beverages by young women of drinking age has been increasing in the United Kingdom, the United States, and Europe. Data (annual consumption in liters) consistent with the find
An automobile company is building a new factory in your town. What may be a positive externality of this event? A. Noise produced by the workers and factory machines. B. Better schools from
A decision making model is more beneficial than simple comparing costs and benefits because A. the decision making model encourages you to consider multiple options. B. a costs and benefits
Unemployment is on the rise though inflation is quite low. Gross Domestic Product is rising but more slowly than the goal rate. The Federal Reserve may buy government securities in open market operati