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Which of the following is a true statement about? self-interest as used in the study of? economics?
A. Any action can be based on? self-interest if the person has some reason for the action.
B. ?Self-interest means that people will never perform an act of charity.
C. ?Self-interest implies that people are selfish.
D. ?Self-interest means that people want greater levels of wealth more than anything else.
Mary is in equilibrium. The MUa =6, MUb =12, Pa=2, what is the price of b? Zach is in equilibrium. The MUa=2, MUb=8, what is the price of a in terms of the price of b? What is the utility maximizing or optimization condition?
How is it possible for some people to pay "negative" taxes? Why is it important to distinguish between deficits and debt? Why may a budget surplus be considered undesirable?
What can be said about the benefits and problems of each dimension (economic, cultural, political and environmental) of globalization? Is globalization a positive force overall?
A college graduate with a B.S. in Mechanical Engineering expects to earn, on average, $20,000 per year more than an engineer without a B.S. degree. If the graduate expects to work for 35 years, and the cost of the college education is $100,000, what ..
Explain the relationship between scarcity, choice and opportunity cost. A well-structured answer will include:
Sketch a demand curve that is unit elastic for a price change between $9 and $11. Assume that the quantity demanded is 110 when price is $9. You’ll have to determine the quantity demanded when price is $11.
Business firm that holds a global monopoly on a particular product but is currently selling the product only in its domestic market where its profits are substantial.
Explain how many cars does the United States export. Suppose a car costs $10,000 on the world market. How much, then, does a barrel of oil cost on the world market.
Calculate the firm's inverse demand function. Calculate the firm's marginal and average cost function. Find all values of Q that satisfy the first order condition for the firm's problem. Calculate the firm's profit maximizazing price and quantity.
A farmer is producing where MC = MR. Say that half of the cost of producing wheat is the rental cost of land ( a fixed cost ) and half is the cost of labor and machines ( a variable cost ) . If the average total cost of producing wheat is $20 and the..
Are there any good reasons to have 12 Federal Reserve banks scattered around the country rather than having everything run by the Board of Governors in Washington, D.C.? What are the costs and benefits? Suppose that you thought that someday you would..
The current price of scrap steel is $6/pound, but it was 4.87/pound just 4 years ago. What is the average inflation rate for scrap steel? Assuming in the last year of a project that Revenue was $100,000, Expenses were $50,000, Working Capital Release..
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