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If a good is non-rival and non-excludable, it will never be produced by the private sector (i.e., public sector intervention is required in order for a non-zero quantity of such a good to be produced). Clearly explain why this answer is false.
Why do some economists claim that we should not worry too much about inflation at this level - What are the other costs be to consider if the inflation rate unexpectedly turns out to be higher than 7% - How does your deposit change the Bank's T-acc..
A firm facing a downward sloping demand curve is producing a level of output at which price is $7, marginal revenue is $5, and average total cost, which is at its minimum value, is $3. In order to maximize profit, the firm should
The marginal product of labor (measured in units of output) for Expando Corp. is given by MPN = A(400-N) where A measures productivity and N is the number of labor hours used in production. Suppose the price of output is $.150 per unit.
If the available amount of raw materials and labor are 13,400 pounds and 7,800 h, determine the outputs of A and B.
1. describe the industry and explain the general pattern of change of the particular market model.2. hypothesize the
Third National Bank is fully loaned up with reserves of $20,000 and demand deposits is similar to $100,000. The reserve ratio is 20 percent.
Q#1. Homemakers are not included in the employment or labor force totals compiled by the Bureau of Labor Statistics household survey. They are included in the working-age population totals. Suppose that homemakers were counted as employed and include..
a worker receives a 25 raise. as a result he decides to eat out twice as much as before and cut back on the number of
illustrate and explain using diagrams two 2 market mechanisms that are used for controlling pollution as an
John manages a dry cleaning store for $30,000 per year, but decides to open his own dry cleaning store. The revenues of the store during the first year of operation are $100,000 and the expenses are $35,000 for salaries, $10,000 for supplies, $8,000 ..
Discuss the current economic situation in the U.S. as compared to five (5) years ago. Include interest rates, inflation, and unemployment rate in your explanation.
Target and Kmart are engaging into the following one-shot game: if Target advertises and Kmart does not, Target will make $20 million in profits and Kmart will make $6 million. If Kmart advertises and Target does not, Target will make $2 million and ..
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