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A Penn State research lab announced today that it has developed a successful process to make a gasoline-like substance out of peanuts. At the same time, we discover that the oilfields of Saudi Arabia will run out of oil in a couple of years. Explain what will happen to the equilibrium price and quantity of crude oil.
Wireless high speed internet is provided for free in the airport of the city of communityville. At first, only a few people use the service. What type a good is this and why.
according to the chief engineer at the zodiac company qalakb where q is the output rate l is the rate of labor input
Consider the problem of maximizing the profit function (pi)= pY -wL subject to the production function Y= L to the alpha (as the exponent) where alpha E (epsilon) (0,1).
Explain why the need to have both a high aggregate demand and a high profit rate for firms to be profitable are two requirements that may stand in contradiction to each other, which in turn may lead to problems in the accumulation of capital and ev..
The manager of a coporate division faces the possibility of an audit every year. She prefers to spend time preparing if she will be audited; other wise, she would prefer to invest her time elsewhere. The auditor, who gets recognized for uncovering..
in an economy in which government expenditure is 100 billion exports are 60 billion imports are 15 percent of real gdp
How could the incentives facing the people at the FDA be changed to reduce the incidence of Type ii errors Is it possible to compare the FDA approval process with the drug -approval process in other nations
what are the trade offs involved between current and future consumption/production? In the absence of government intervention, would we expect the consumers/producers to make optimal intertemporal decisions?
suppose one morning the open market trading desk drastically under-estimates the demand for reserves when deciding the
After two quarters of increasing levels of product, the CEO of Canadian Fabrication & Design was upset to learn that, during this time of expansion, productivity of the newly hired sheet metal workers declined with each new worker hired.
suppose the expectations theory of the term structure is correct. suppose that the current interest rate on a one-year
a honda accord sells for 24000 in the united states and for sf29500 in switzerland. given an exchange rate of sf1.25 1
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