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Laissez-faire is an economic precept because it is based on a model and normative judgments about the relevance of the model to the reall world. Why?
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A bridge design firm is performing an economic analysis of two mutually exclusive designs for a highway overpass. The steel girder option has an initial cost of $2.14 million, and the concrete option has an initial cost of $2.58 million. Every 25 yea..
Suppose a perfectly competitive firm’s demand curve is below its average total cost curve. Explain the conditions under which a firm contuses to produce in the short run.
Illustrate what is worth analysis and Illustrate what things and conditions are to be kept when doing worth analysis of products and or construction work. Illustrate what are advantages of utilizing yearly worth analysis.
Cartels with a small number of industries have a greater probability of reaching the monopoly outcome than do cartels with a larger number of industries.
Suppose that the equilibrium price in the market is $10. If the current market price is $7.50:
Do you think in legal matters and health matters and so forth people should be economically valued differently? or should there be one standard amount each person is worth/
Suppose now that the government reduces (t) and increases (t') so that the government budget constraint continues to hold. What will be the effects on an individual con-sumer's consumptionin present
For a perfectly competitive firm, the price of its product is $3.50. If an additional unit of a resource yields a value of the marginal product (or MRP) equal to $24.50, what is the value of the marginal-physical product? A firm's objective in busine..
A firm with fixed costs always has losses for low levels of output. A firm with fixed costs must incur economic losses if it chooses not to produce output. A firm with fixed costs can’t maximize profit in the short run.
The Bureau of Labor Statistics generally uses 90% confidence levels in its reports. One report gives a 90% confidence interval for the mean hourly earnings of American workers in2000 as $15.49 to $16.11. If the null hypothesis states that the mean ho..
What factors do you think are responsible for Africa’s slow economic development? What can the multinationals do to help?
Explain how might spending of Asians on American goods be affected. What about Americans who have invested in these countries.
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