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Use economics to compare three ways to reduce the demand for heroin: (i) the substitution of another, less dangerous, and less debilitating drug, such as methadone for heroin, to registered addicts; (ii) the free availability of the illegal substance to registered addicts; and (iii) a legal proscription on use, which is the current policy.
If expenditures on preventing crime equal $200 billion and the costs of crime to victims equal at least $300 billion, could the United States save $500 billion by abandoning all efforts to prevent crime?
Which of the following is an obstacle to economic growth? According to the text, as compared to rich countries, most of the poor countries do not fare well because:
Spending by the consumer sector is the driving force in the US economic system. Although the business and government sectors make a considerable contribution to the success of the economy, it is the spending by the consumer or household sector of the..
4.5 Grocery store chain often set consumer-specific price by issuing frequent –buyer cards to willing customers and collecting information about their purchases. Grocery chains can use that data to offer customized discount coupons to individuals. Wh..
Long-run total cost Select one: a. is tangent to short-run total cost when short-run total cost is at its minimum. b. represents the lowest possible cost of producing a given level of output. c. All of the answers are correct. d. is always equal to o..
Using the concept of opportunity cost also PPF explain the phrase affluence tomorrow requires sacrifices today
Consider two firms, located at each end of a street of length 1. There are customers uniformly distributed along this street. Customers incur transportation costs TC = 2x2, where x is the distance they need to travel in order to purchase the product...
Why do you think it is that few cities have converted their buses to natural gas? We have many cities that run all or most public vehicles on natural gas. Natural gas burns clean and has cleaner emissions. Is there a reason that all of our cities hav..
Explain economic theory of cost including fixed cost, variable cost, marginal cost and total cost with an airline application?
what about Bill Maxwell article
Dan and Carla met as employees at a candy company and later married. Carla went on to study accounting and Dan earned a business degree. After working for various businesses and raising $10,000 to open their own business one day, What are the pros an..
q.a particular firm began very small. they found that getting larger was painful - it involved a lot of new
Your company generated $3.7 million revenue in 2013. Annual costs/depreciation are as follows: cost of goods sold that year was $800,000; salaries and wages that were paid were $1,000,000; advertising costs were $30,000; depreciation was $50,000; oth..
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