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1) Why is the judiciary regarded as the “least dangerous” branch of government? Citing examples of its powers and its place in history, do you agree or disagree with this assessment? it only needs to be a paragraph or two
2) Should nine unelected justices have the authority to nullify state and national laws enacted by elected representatives? Since all federal judges are appointed for life and are independent of one another, how can the federal judiciary be expected to dispense justice consistently and equitably?
3) In what ways is the judiciary susceptible to the same pressures of politics and national opinion that affect the elected branches? In what ways is it shielded (if at all) from those pressures?
Predatory pricing is easy to prove in court. Learning curve effects may enable an incumbent to produce at a lower cost than a potential entrant. A firm can benefit from strategies that raise the marginal costs of its rivals.
Comment on the difficulty of calculating opportunity costs (the economic concept) as compared to accounting costs (explicit costs). Do you have any suggestions for making the calculation of implicit costs easier?
Skyscraper City has a subway system, for which a one-way fare is $1.50. There is pressure on the mayor to reduce the fare by one-third, to $1.00. The mayor is dismayed, thinking that this will mean Skyscraper City is losing one-third of its revenue f..
A few years ago, a construction manager earning $70,000/ year working for a regional home builder decided to open his own home building company.
Sketch a diagram that illustrates what happened to the Bridgewaters' budget constraint. Could they have been made worse off by the change.
A newspaper has a monopoly on the local news market in a town. The market demand is given by P=1.70-Q/10,000, making the marginal revenue MR=1.70-Q/5,000. The marginal cost is constant at equal to 0.80. The fixed cost is 2,000. Variable cost is 0.80Q..
Illustrate what is the probability the driving distance for one of these golfers is less than 290 yards. What is the probability the driving distance for one of these golfers is at least 300 yards.
Consider what you have learned about the root causes, as identified by leading economic thinkers and policymakers.
Measles has become an epidemic here in Orange County. About 1 in 1000 people will die after contracting the disease. Because this is such a high rate, health officials in Orange County would be well advised to pay for anyone to get a vaccination.
Based on standard monetary theory, if the Fed purchases Treasury Bills from banks:
1. draw a real expenditures curve on a graph showing a recessionary gap. explain what happens to real gdp when it is
If we accept Marx's labour theory of value, we run into a different problem: if a working day of 8 hours creates same amount of value in a highly mechanized industry as in an industry with few machines, why do capitalists introduce machines.
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