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Briefly describe the difference between the mechanism of an oral or English auction and a Vickrey or second price auction. Is there any difference between the winning bidders in the two auctions, and the winning payments made in the two auctions?
Going to medical school and specializing in a surgical residency is extremely profitable, and the best evidence to support that is the high annual incomes earned by surgeons.
Elucidate when the monopolistically competitive firm lowers price from $16 to $12, how much does total revenue change.
You earn $3,000 from a part-time job. You have a choice between spending the money now or putting it away in a bank account that pays 5 percent interest per annum. What is the opportunity cost of spending the $3,000 now?
Use the economic perpective to explin why someone who isnormally a ligh eater at a standard restaurant may become somewhat of a gullton at a buffet-style restaurant that chares a single price for all you can eat.
When people have insurance against a certain event, the notion that those people are less likely to guard against that event occurring is called a _____________________ .
This week, we are going to talk about bubbles, specifically, are we in one now? This in't really about growth - its more about the business cycle, but I found it particularly interesting. While much of the podcast focuses on San Francisco, there are ..
If Malcolm Fights, both politicians gets a payoff of 30. If Malcolm opts to Negotiate, the payoffs are 15 to Malcolm and 15 to Tony. What are the Nash equilibria of the game?
What would be the new equilibrium in this economy if Investment increased by $12.
Changes in disposable income affect government purchases and the government purchase function. How do changes in net taxes affect the consumption function.
In 200 words Explain Cooley’s argument in “Genetically Modified Organisms and Business Duties” What would Cooley say about the activities of Monsanto and related in the case study “Monsanto’s
Development economists consider the phenomenon of child labor as an example of ‘bad equilibrium’. Discuss briefly any two alternatives to a complete ban on child labor.
Identifying and shaping public opinion has become a major goal of campaigns and elections. Identify and discuss the process by which people develop their political ideas. What are the four traditional agents of socialization and three additional new ..
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