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“Dependency” theorists believe that moving surplus labor from agriculture to industry where that labor will earn profits that can be reinvested for further growth is the key to overall economic growth and development.
Is this statement true or false? Explain why.
The market for a standard-sized cardboard container comprises two firms: BooBox and Flimflax. As manager of BooBox you enjoy patented technology which permits your company to produce boxes faster and at lower cost than Flimflax.
Determine price and the level of service if competitive bidding results in a perfectly competitive price/output combination. Determine price and the level of service if the car lot grants a monopoly franchise.
Let us assume you and ten of your friends are going to open and invest in a business. You do not want to pay double taxation on the profits. You want a type of ownership where profits must be distributed based on how much each person has invested ..
Technological advance improves productivity in a purely competitive industry. This change will result in a shift: a.) down of the individual firm's MC curve, causing the market supply curve to shift to the left b.) down of the individual firm's MC cu..
In the classical model with fixed income a decrease in the real interest rate could be the result of a(n): If currency held by the public equals $100 billion, reserves held by banks equal $50 billion, and bank deposits equal $500 billion, then the ..
A grocery store notices that the cross-price elasticity between ice cream and chocolate syrup is -.3. The store is advertising a sale with ice cream prices reduced by 20%.
How many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budget constraint?
A rental apartment complex for residential use in the City was placed in service by a calendar year company 6 years ago on February 27 for $530,000. The apartments were sold on March 6 this year. A rental apartment complex for residential use in ..
Airline fares are bigger in summer than in winter. Some railroads charge lower fares during week than on weekends. Electric firms charge customers lower rates the more electricity they use.
Suppose you are an industrialist begninning a biotechnology company. If your research is successful, technology can be sold for $30 million. If your research is unsuccessful, it will be worth nothing.
Cinema Theater has estimated the following demand functions for its movies: Daytime demand, QD = 400 - 50 PD Nighttime demand, QN = 200 - 20 PN The marginal cost of serving another customer is $5 and its fixed costs are $100.
Amityville has a competitive chocolate industry with supply curve Ps =440+Q. While market demand for chocolate is Pd=1200-Q, there are external profits that the citizens of Amityville derive from having
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