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As noted in the video Stalag 17 and in your readings, many things have been used as money over time: cigarettes, gold, paper currency (like the U.S. dollar), etc. Describe the functions of money and consider the U.S. dollar as an example. Although the U.S. dollar has little or no intrinsic value, why do people want it so much? Can you think of other examples of things that act as “money” in our society?
The number of land lines for tellephones is rapidly declining as more and more people use smartphones. Using the markets for land lines and smartphones, illustrate these changes. What is causing them?
Explain how a bill become a law in order.the bill goes back to the floor of the senate for consideration. the house committee, compairised of members from both houses of congress,works outany differences concerning the bill.
A monopolist faces a demand curve Q = -0.5P + 500, and has a total cost function . TC(yf)=3y^2f+40000. Find the profit maximizing price, quantity and profit. Draw a picture showing the producer and consumer surplus in this market. Calculate the monop..
The nation of Isolani forbids international trade. In Isolani, you can exchange 1 car for 5 motorcycles. In other countries, you can exchange 1 car for 4 motorcycles. These facts indicate that
Latoya and Martha are friends who live across town. Latoya always seems to be the person to initiate communication. When Latoya decided to let Martha contact her, the phone call never came. Which relational principle is negatively affecting Latoya an..
A project will require the investment of $108,000 in equipment (straight-line depreciation with a depreciable life of 8 years and zero salvage value) and $25,000 in raw materials (not depreciable). Net annual project income before-tax depreciation wi..
Research and define Capital Asset Pricing Model (CAPM) and Arbitrage Pricing Theory (APT). How are they the same and how are they different?
The market wage rates for left-and right-handed workers are $10 and $15 per worker, respectively. The value of the marginal product of labor is 20 – 0.5L, where L is the total number of workers (it doesn’t matter if they’re left or right-handed). Wha..
_____ is NOT a characteristic appropriate for a yield management strategy.
Whenever a partnership agreement is silent on this allocation of profits and losses, profit and losses are divided in the same proportion as capital contributions. Whenever a partnership agreement allocated losses in unequal proportions, but is silen..
Illustrate what marketplace structure is more beneficial for Wonks to operate in also will this be the same marketplace structure which will benefit consumers.
Describe perfect competition and long-run equilibrium. Provide detailed descriptions, definitions and concrete examples of your findings.
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