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If an individual’s labor supply curves slopes forward at low wages and bends backward at high wages, is leisure a Giffen good? If so, is leisure a Giffen good at high or low wage rates?
What is the “ethic of giftedness”? What values does Sandel argue are realized in embracing this ethic? How would Sandel view uses of technological enhancement that are generally accepted (prosthetics, eyeglasses, etc…)?
Reflect on your performance as a leader and a follower. What do you know about these different roles now that you didn't before? How might you improve your own actions to be a better team mate?
Write a well-reasoned argument defending your stance. If deposit insurance were abolished, elucidate how would this change incentive structure facing deposit theory institutions.
Illustrate what is the marginal cost of one of the 50 newspapers folded also bagged by the fourth student.
Consider a class of 25 Microeconomics students, some of whom are confused about a concept after a professor explains it. A student who reveals his confusion by asking a question loses 10 utile. However, when the professor clarifies the concept, each ..
Determine the profit maximizing output and amount of profits for the firm. If the market demand increases to Q(d) = 57 - 4P, determine the new profit maximizing output and profits.
The perfectly competitive DVD copying industry is composed of many firms who can copy five DVDs per day at an average cost of $10 per DVD. Each firm must also pay a royalty to film studios, and the per-film royalty rate (r) is an increasing functions..
A small consulting firm is only interested in hiring College graduates (denoted by S), but it does not know how many it should hire in order to be profit maximizing. Assume there is a competitive wage of $20 per hour and the production function is F(..
Elucidate how if at all among the following events affects the location of a country's production possibilities curve.
the shortcomings of NAFTA for the last 20 years including what each country has lost as a result of NAFTA.
Suppose that changes in technology cause individuals to demand lower money balances for every nominal interest rate. Suppose the Fed does not adjust the money supply in response. Investigating first the money market and then tracing the effects to th..
Assume for this CheckPoint that purchasing a new home is a major decision requiring a substantial financial outlay where the wrong decision has long-term financial consequences.
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