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Compare and contrast the principles of the institutionalist school to neoclassicism. What tenets of neoclassicism do you think institutionalist economists would reject? Defend your selection.
According to comparative advantage, in which industries would you recommend the country to specialize. Has the country specialized in your suggested industries.
The three families are considering putting in streetlights on Main Street and are trying to describe how many lights to install. The table below shows each family's willingness to pay for each streetlight.
Elucidate how does that fact that many goods are non traded affect the extent of possible gains from trade.
How does subsidy affect consumer surplus, producer surplus, tax revenue and total surplus. Does a subsidy lead to a deadweight loss.
Elucidate Illustrate what would happen if an outside agency Concluded the prices eBay could charge.
Amy Jane, a new manager at C & D Grooming, has been asked to focus on the competitive environment of the organization. Illustrate which of these factors is among those Amy Jane should focus on.
In the short run the typical company increases its output but its total cost also rises. Hence, the effect on the company 's profit cannot be determined without more information.
While sitting in your office one evening, you begin to think about some of key microeconomic messages you want to communicate to Board. Find equilibrium quantity and price.
In light of the externalities involved in the market for gasoline, how do the tax changes affect society's total welfare. Elucidate the effects on each individual component of total welfare.
Elucidate how a firm's production function is related to its marginal product of labor, how a firm's marginal product of labor is related to the value of its marginal product.
Suppose apples also oranges are substitute. Presume apple growers launch a very successful advertising campaign that convinces consumers apples are a better product.
A purely competitive wheat farmer can sell any wheat he grows for $30 every bushel. His five acres of land
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