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Derive the dynamics of capital accumulation and solve the steady-state level of output.
What is the price elasticity of demand at P = 20? At what price is the demand unit-elastic (i.e. elasticity = -1)?
Why do governments control certain monopolies? Provide at least one real world example in supporting your argument.
If there is a permanent need for the aqueduct, should the tunnel or the pipeline be selected for this particular portion of the aqueduct?
Recommend how a company can protect its intellectual property during a major upgrade to its computer systems.
What are the fixed costs of production? What is LRAC at MES? What kind of Economies of Scale does J&M face?
How would you go about developing a remedy to reduce the unfair burden cost shifting places on certain payers?
Find What is the company's average cost? A customer is willing to pay $60 for the 701th calculator. Should the company produce and sell it? (YES/NO). Explain.
The country of Puglia produces and consumes two products, pasta(P) and togas(T). Use your graph to explain whether or not Puglia gains from free trade.
Which product will Puglia export? Which product will it import? On the same graph that you used for part a, show the free-trade equilibrium for Puglia.
Draw the decision tree. Calculate the average cost for each treatment. Calculate the average QALY for each treatment.
Annual operating costs are expected to be $70,000 for the first 15 years and $100000 a year thereafter. Compute the capitalized cost of perpetual service at 7%.
Define economics and explain how the discipline of economics differs from the Natural Sciences and also from the other Social Sciences.
Define externally validity. Explain under what circumstances RCTs are likely to externally valid. If they are not under what circumstance are they still useful.
What is deflation? Discuss the appropriate government policies to deal with a problem of deflation; and also provide diagram (s) and at least one real world exa
Your demand function for potatoes, in pounds, is given by ln D(p)=1000-p+lnm. What is the price elasticity of demand and income elasticity of demand?
Assume that the price of wine falls to $5. Now what combination of the two goods will maximize your utility?
Describe the average total cost curve, the average variable cost curve, and the average fixed cost curve -- how do they look on a graph?
The Russell Sage Foundation, 1998, Human happiness is a real phenomenon that can be measured. Do you think utility or happiness can be measured?
Discuss the problems with government provision and allocation of public goods. Is the distinction between public and private goods always c lear?
Discuss your thoughts and ideas about using FDI as a mode of entry into a foreign market as compared to other methods such as exporting, licensing, etc.
Distinguish between GDP and GNP by giving an example of something that would be included in one but not the other and vice versa.
Foreign producers can supply any quantity at a price (P) of $30. Is there a shortage opf a surplus? what is the quantity of a shortage or a surplus?
What are the challenges that Sub-sahara africa faces to make itself more attractive for foreign direct investment? how can these challenges be addressed?
How does a change in expected profitability affect aggregate investment? How does a change in business taxes affect aggregate investment?