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There is an old saying about the benefits of Marriage - that "Two can live as cheaply as One". What economic principle substantiates this claim? Diminishing marginal returns Law of Supply Economies of Scale Economies of Scope.
Unions tie the hands of management and inhibit efficient decision making. Unions contribute to economic efficiency in that union wage pressure hastens the weeding out of the high-cost, least efficient producers in each industry.
Autonomous aggregate expenditures decreases by $200 million, the marginal propensity to consume is 0.50, marginal propensity to invest is 0.25, and the marginal propensity to import is 0.10. Calculate the change in income.
Explain how each of the following changes the money supply of the local economy. Discuss two limitations of the consumer price index (CPI) as a measure of the cost of living.
What if the government needs to purchase a single, large piece of property in order to provide a public good, say, a satellitetracking station? There is only one private owner with whom to deal. And his property is the only one that is suitable for t..
A monopsony employer facing a perfectly competitive supply of labor would pay a wage equal to marginal revenue product. Wages for labor will be highest in labor markets consisting of perfectly competitive buyers and a monopolist. Equilibrium in oligo..
Given a sample of observations on yt and xt what is the most efficient estimator of mu? Is this estimator unbiased? What is its variance? What is the OLS estimator of mu?
If the table represents the demand faced by a monopoly firm, then Illustrate what is which firm's marginal revenue as it increases output from 1300 units to 2200 units? Elucidate how all work.
Calculate the arc cross-price elasticity of demand for JJT's deluxe garment bag. B. JJT's deluxe garment bag sales recovered from 4,800 units to 6,000 units following a price reduction to $130 per unit.
The utility is given byu(x, y) = xy + y. What are the demand functions for x and y. Describe how demand curves for x and y are shifted by changes in I or the price of the other good.
What would be the subsidy required to get Mr. Smith to perform the efficient amount of gardening? Now assume that Mr. Green, another neighbor, doesn't like the garden. He bears a marginal damage, which is given by MD(h)=2
What are the social and global economic impacts on health care in the present day relating to budgetary cuts from the various levels of government (local, state, and federal)?
Using economic analysis and the guiding principles of sustainability, between the farmer subsidy solution and the principles of sustainability solution, justify which solution is best? Why?
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