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In 1973 the United States Supreme Court handed down the famous case Roe v. Wade, 410 U.S. 113 (1973), wherein the Court determined that the decision to have an abortion is a private decision that is protected from government intervention, in some circumstances, by the U.S. Constitution. Suppose that a state legislature passes legislation (a state statute) that attempts to reverse the Roe decision by prohibiting all abortions in that state. Which is controlling in that state, the statute or the decision of the United States Supreme Court? Explain your answer.
Suppose market demand for oranges is given by QD = 40 - 2P where QD is quantity demanded and P is the market price. Market supply is given by QS = 4+P where QS is quantity supplied and P is the market price. Equilibrium price is 12 and quantity is 6...
Suppose you are the economist of Didier Enterprises - a firm that manufactures ballistic missiles. Based on the estimates provided by a consultant, you know that the relevant demand and cost functions for the missiles are Q= 25 -.5P and MC = 2. What ..
Should the government increase the minimum wage? What should be the guidelines for an increase? What are some of the disadvantages of an increase?
Business decisions are often subject to constraints or business rules to solve business problems. Excel’s Solver can be used to develop decisions, such as maximizing profit or reducing costs. You need to assume an initial number of productions for ea..
Charging prices closer to what consumers are willing to pay for a good:
If there is a new breakthrough in manufacturing technology that reduces the cost of producing DVD players by half, what will happen the following Four parts of supply and demand: (1) supply of DVD players, (2) demand for DVD players, (3) price and sa..
What are potential reasons for income inequality across the economy. In some of our efforts to improve income inequality can we negatively impact productivity?
Sid is the CEO of a local power plant operating in monopoly market structure. Explain why the demand curve (P) here is larger than the MR, and why Sid won’t produce on the inelastic portion of demand curve.
How does game theory explain why strategic moves fluctuate? Some oligopolies use a form of implicit cooperation called price leadership, which is legal in the US. Why do you think these firms try to engage in this practice? And why does price leaders..
Millie mows her own yard to save money. Her neighbour Paul, however, hires a lawn service to mow his yard. One day Millie is looking out the window and sees Paul's lawn service drive up. Surprisingly, they begin to mow her yard, not Paul's yard. Disc..
Describe some of the changes in the "what, how, and for whom" to produce for questions that would occur if Boeing manufactured all its components to make its Dreamliner at its own factories in the United States.
q.the economic analysis division of mapco enterprises has estimated the demand function for its line of weed trimmers
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