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If a dealer of rare artifacts purchases a 2nd Century Roman Vase for $250,000 and sells it to a wealthy collector for $320,000 during a given year, how much has been added to GDP for that year? A. Nothing, because the vase was produced centuries ago. B. $20,000 C. $320,000 D. $70,000
The Hair Stylist, limited, has a monopoly in College Park market because of restrictive licensing requirements, and not because of superior operating efficiency.
During the late 1980s and early 1990s, economic reforms initiated by Soviet President Mikhail Gorbachev began to raise consumer incomes; but the Soviet government continued to impose price ceilings on basic goods like food, clothing, household goo..
Cathy has one year left before she completes her degree in industrial engineering. She is spending this summer working for her family's firm, MMM (Molehill & Mountain Movers). MMM runs a fleet of heavy construction equipment and sells gravel for r..
Take into account how productive each is per dollar spent and make up your own example of the balance between the two and how management can best maintain the balance and employee morale at the same time.
Serena consumes popsicles (X) and ice cream cones (Y). Her utility function given by U (x,y) = 3xy. The price of a popsicle is $2, and the price of an ice cream cone is $3. Serena has $40 dollars to spend. A.) Set up the Lagrangian for the consum..
Explain why may a government solution to a marketplace failure worsen the market failure.
Suppose your cousin Vinnie owns a painting company with fixed costs of $200 and the following schedule for variable costs;
Compute the companies concentration measure. Explain how would it change if Delta merged with United States.
Assume Helen's income increased from $30,000 per year to $45,000 per year and Helen\'s crab meat consumption went from 25 pounds per year to 30 pounds per year.
Describe the maximum and minimum amounts that can be produced
Explain the science of economics in the presence of making a profit with scarce resources
What happens to the money supply, interest rates, and the economy in general if the Federal Reserve is a net seller of government bonds?
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