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For the sake of argument (and this assignment) assume that global warming is a fact, caused by human activity, and that it can be fixed by taxing producers for the amount of carbon they release. The problem is that this tax would greatly increase costs for everyone.
How would this situation be described in terms of Positive economics?
How would this situation be described in terms of Normative economics?
Which of these do you think is the correct way to describe this situation and why?
If the initial investment is a project is $100,000 and the expected annual net profit for the project is $20,000, the payback period is:
The UWM Bookstore orders coffee mugs out of a catalog from a supplier. The demand for these coffee mugs is 1,849 per year. There is a $45 charge for placing an order and the cost per coffee mug to hold it in inventory for the year is $2.50. What is t..
Monopolistic competition is different from monopoly because monopolistic competition is characterized by free entry, whereas monopoly is characterized by barriers to entry. Monopolistic competition is different from oligopoly because each seller in m..
A seafood restaurant in a beach resort town has a fixed (unavoidable) cost of $1,000 per month and variable (avoidable) costs of another $1,000 per month.
Choose a specific product that you use on a daily basis (such as food items, toiletries, or your car). Who are you (demographics, psychographics, etc.)? What do you do with the product (consumption, storage, disposal, etc.)? Where do you purchase the..
Suppose that legalizing the use of marjuana would decrease its price by 93%. If the price elasticity of demand for marjuana is -2.00, what would be the percentage increase in the quantity of marijuana demanded from legalizing marijuana? _______ perce..
Prove that if the weak preference ranking R is transitive then the corresponding strict preference ranking P (using the definitions we gave in class; this is always understood whenever we are talking about indifference and strict preference) is also ..
The smaller the price elasticity of demand, the
These investors seek unlimited access to investment consultants and are willing to pay up to $10,000 annually for no fee-based transactions.
In 2010 and 2011, the government of Greece risked defaulting on its debt due to a severe budget crisis. Show, using the bond market graphs, the effect on the risk premium between Canadian government debt and comparable maturity Greece debt.
We are seeing a merging of media firms. For example, companies like Verizon now provide phone, cell, TV and internet. A common form of selling services involves putting them together in packages or “bundles” and offering them for a lower price than i..
International Trade Policies are very important for Multinational Enterprises (MNE) and governments. Answer the following questions: How does an international trade policy impact a MNE's strategy? Provide Examples. Why do governments sometimes interv..
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