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How does economic Darwinism explain management structure? Why do government bureaucracies not adopt more efficient methods of management structure? Describe 5 common problems that occur in bureaucracies.
Illustrate what is approximately the maximum amount the rm is willing to pay to be allowed to use e more units of input x, for e small
A company named Highway Data has been given a contract to install highway information signs along a 500 mile portion of interstate 555. The signs will be placed at the end of each 10 mile section. The signs cost $138 each. Data fiber optic cable comm..
A county with 1M (M for million) population, 2% unemployment, and no in ation, voted to build a stadium and rent it to a professional baseball team. The team owner, who was not a county resident, was to pay $1M per year rent for use of the stadium an..
Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. a. How do you know that the industry is in long run equilibrium? b. Suppose that there is an increase in demand for this product. Show and explain the short-run ad..
The distribution of family income is preferable than the distribution of household income because. The long-run average-total-cost curve does not connect the minimum points of each of the short-run average-total-cost curves. The long-run average-tota..
Determine what are some of the philosophies that influenced Latin America? In what way did they impact the cultures of Latin America?
The Venezuelan bolivar has been steadily depreciating against the US dollar, but the government wishes to stop the depreciation. What must the Banco Central de Venezuela do to stabilize the exchange rate? Is there a limit to how much it can intervene..
A monopolist sells music CDs. It has a constant marginal and average cost of $20. It faces two groups of potential customers: honest and dishonest customers. Given that the marginal cost is constant and equal to the average cost, does the monopolist ..
How did Keynes use marginal methodology to explain depression and market failure? Discuss how Keynes used neoclassical theories on market clearing to explain depression. In what aspects that Veblen provided an alternative theory to economics?
An input is indivisible if:
q.1. lee has the utility function ux1 x2 x11x24 the price of x2 is 1. lee spends all his income to buy 6 units of x2
The subway fare in your town has just been increased from a current level of 50 cents to $1.00 per ride. As a result, the transit authority notes a decline in ridership of 30 percent. Compute the price elasticity of demand for subway rides.
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