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Almost immediately after the new Federal Constitution went into effect, those supporting it split between Thomas Jefferson and Alexander Hamilton. What was Hamilton’s economic program in the 1790s and why did Jefferson oppose it? Did Hamilton get his way and if so, why? How did the two groups differ over foreign affairs?
According to a study of US cigarette sales between 1955 and 1985, when the price of cigarettes was 1% higher, consumption would be 0.4% lower in the short run and 0.75% lower in the long run (Becker et al., 1994).
A professional photographer who specializes in wedding-related activities paid $16,000 for equipment that will have a $2000 salvage value after five years. He estimates that his costs associated with each event amount to $65 per day. If he charges $3..
show mathematicallt whether the mardinal utility for (X1) and (X2) is increasing or decreasing. Find the Marginal rate of substitution for the indifference curve generated by the utility function.
Break-even analysis (LO2) Stock Electronics sells portable heaters for $25 per unit, and the variable cost to produce them is $17. Mr. Amps estimates that the fixed costs are $96,000. Compute the break-even point in units
Willie will receive all his operating expenses, and in addition will receive $2,000 each year for the decline in value of the automobile.
Metro Limo also Urban Limo, operate nine passenger vans. These duopolists cannot compete with price, but they can compete through advertising.
Describe the end of the war and the writing of the Treaty of Versailles. What were the terms of the treaty? Which nations were involved in writing the treaty? What was the American reaction to the treaty? Why?
Imagine you are a member of Congress. Since consumer spending comprises at least 2/3 of real GDP, you know that increasing that spending would boost the U.S. economy in the short run. During a press conference, a member of the press asks you what you..
The three problems of resource allocation are faced by
What are the main causes of and contributing factors to international financial crises? How can they be resolved? How can they be prevented? Answer this question in the context of the Asian Crisis of 1997.
As the level of competition in an industry increases, the price-cost margin approaches:
Explain how does trade affect the production possibilities frontier. Illustrate what other factors can expand the production possibilites frontier.
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