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A consulting firm conducted a random survey of community residents, describing a planned riverside park and then asking each respondent the question: “What is the most that you would be willing to pay to have this park built along the river?” Do you think that the monetary benefits estimated from the responses are likely to be an overestimate or an underestimate? What is the source of the bias?
What are the 4 types of unemployment? Please explain the current situation of employment in the United States; how does it differ for the long-term unemployed (over 6 months)
Zeyton manufacturing company is a food producer operating out of Orange County California. The management team has estimated the following cost function: What is the "minimum efficiency scale" or output for this company?
Assume the equilibrium quantity is 10M of automotive wiper blades at an equilibrium price of $2 per blade. If the government imposes a limit of 8M wiper blades for the private sector in order to support an increased need for rubber in classified oper..
She put her savings into mutual fund that paid a nominal interest rate of 7 percent a year. CPI was 165 at beginning of year and 177 at end of year. Illustrate what was real interest rate that Sally earned.
Explain why a bundle of goods cannot be optimal (i.e., why some other bundle must be a better choice) if the marginal rate of substitution (MRS) at this point is not equal to the ratio of the goods’ prices. A consumer has a current income of $60, whi..
explain how the short-run phillips curve the long-run phillips curve the short-run aggregate supply curve the long-run
How much is in this account after 40 years? Please do not show Excel formulas. I am looking for a standard set of equations that can be done with a simple calculator or by hand. Thanks. Will rate fast for easily understandable answers.
What are the economic justifications that economists have enumerated for quotas, restrictions and taxes on international trade? What are some of the economic implications of a society imposing a tax on imported goods? Does it matter if the goods are ..
Assume a firm produces 500 units of a good by using two inputs, capital and labor, whose per unit prices are $10 and $4. Assume also that the marginal physical product of the last unit of capital is 30 and the marginal physical product of the last un..
Which of the following would cause a movement along the supply curve (that is,a change in the quantity supplied)for hot dogs check all that apply
Good-faith bargaining generally refers to the duty of the parties to meet and negotiate at reasonable times with willingness to reach agreement on matters within the scope of representation; however, neither party is required to make a concession or ..
Consider the taco stands on State Street. Suppose that the taco market on State Street is a perfect competitive market, where all taco stands are exactly the same (i.e. producing the exact same tacos and having the exact same cost features). The mark..
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