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1. (The Evolution of the Firm) Get a library copy of The Wealth and Poverty of Nations, by David Landes, and read pages 207-210. How would you interpret Landes's story about mechanization using the ideas developed in this chapter? 2. (Wall Street Journal) The household is the most important decision-making unit in our economy. Look through the rotating columns (e.g.,"Work and Family" and "Personal Technology") in the Wall Street Journal this week. Find a description of some technological change that might affect household production. Explain how production would be affected.
An airline ticket costs the same from Casper, Wyoming to Denver, Colorado, and from Denver to Orlando, Florida. Does this make economic sense? Describe the rationale behind equal prices for unequal distances in air travel using demand, supply and cos..
If the current price of the product is $150, what is the quantity supplied and the quantity demanded? How would you describe this situation and what would you expect to happen in this Market?
What is the economic meaning of the expression that "There is no such thing as a free lunch?"
1. you manage a movie theatre and you hire a statistical consultant to estimate the demand for movie tickets. using
A competitive firm has the following quadratic total cost function TC = aQ2+10Q + 50- determine a if the market price is $50 per unit and the firm's profit maximizing level of output is 10 units.
Question 3: [5 points] Consider a Hotelling line of length 1 with firms currently located at 0.29 and 0.75. Prices for all firms are fixed at p. You are advising a third firm about where to locate on the line. What is the best location you can sugges..
draw an ad-as diagram representing the u.s. economy in a recession. also draw a diagram of the u.s. labor market in the
Section 1: Application (40 Points) Please answer the following question by integrating research, examples and opinion. Your answer should be no less than 300 words in length. The assignment is worth 40 points. It is important that your answer i..
A city is spending 20.2 million on a new sewage system. The expected life of the system is 50 years, and it will have no market value at the end of its life. Operating and maintenance expenses dor the system are projected to average 0.6 $ million per..
1. determine whether the following production functions exhibit constant increasing or decreasing returns to scale.
an airline ticket costs the same from casper wyoming to denver colorado and from denver to orlando florida. does this
"Economics of Monopoly Power" Please respond to the following Take a position regarding whether the current initiatives of the FCC actually encourage competition in all communication markets and protect the public. Provide specific examples to sup..
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