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In 1993, Chicago BearsPresident Michael McCaskey negotiated new contracts for the team's leadingoffensive and defensive players, quarterback Jim Harbaugh and defensive endRichard Dent. Harbaugh was an average quarterback whom fans admired for histenacity, if not his proficiency at throwing the ball. Dent was one of the bestat his position, but many fans complained that Dent frequently gave less than100 percent effort. McCaskey offered Harbaugh a long-term contract that paid $5million for the 1993 season, and nearly $4 million per season after that.McCaskey originally gave Dent a multiyear contract that paid nearly $1.2million per year, but he and Dent subsequently agreed to add a clause to thatcontract enabling Dent to become a free agent and negotiate a new contract withany team at the end of the 1993 season.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />Based on the above, whichplayer do you think had a better year in 1993, and why do you predict that? Youshould ignore other factors outside of the above information (e.g., thepossibility that one player was injured during the 1993 season and thereforeperformed poorly, etc).
a. compare the circuit of production under capitalism with the circuit for your family in producing dinner.b. how do
consider the following public policies in the market for cigarette smoking an aggressive anti-smoking media campaign
a) Suppose P = 100 – q, Cost = 20q, and the resource constraint is Q = 80. Find the optimal allocation over two periods. What is the value of the resource? Suppose I impose a tax of 10$ per unit extracted. What happens to the allocation in (a)
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Suppose that one must divide $1,000 among 100 students. Which divisions are efficient?
How do you ?nd the most ef?cient output, and how do you ?nd the most pro?table output and at the output at which a ?rm maximizes its pro?ts, what two variables are equal?
Suppose there is an increase in demand (rightward shift in demand). Consider two graphs. In Graph [X], supply is relatively inelastic. In Graph [Y], supply is relatively elastic. Which of the following is true? Drawing graphs will help.
use a picture to show the impact on the yield curve of the following shocks assuming that the expectations theory is
the maker of a leading brand of low-calorie microwavable food estimates the following demand equation for its product
How the economy works and why the idea of limited resources is such a major concern in today's economy
Two similar farms could have the same return to management but different net farm income due to:
Other things being equal, a rise in a country's terms of trade increases its welfare. What would happen if we relax the ceteris paribus assumption, and allow for the law of demand to operate internationally.
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