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Professional Sports
Professional sports and big-league cities go hand in hand. Hosting a professional sports franchise is evidence that a city has arrived per-se – that is not simply a large city but a major league city. Moreover, acquiring or retaining professional sports teams has become important in local economic development plans. From your perspective, is it wise for a major “metropolis” to promote professional sports? What are the advantages/disadvantages? Provide research support for your positions.
Beginning from a steady state in the Solow growth model, explain how an increase in the saving rate will affect the levels and growth rates of capital and output per worker. (Note: discuss both the short-run and long-run impacts).
If a firm uses only capital and labour, show why the cost minimising combination of inputs sets:
Assume that the market for wheat is perfect competitive, with demand curve P = 5000? 0.01QD and a supply curve P = 1+0.1QS. Each identical wheat producer has a total cost curve given by TC = 1+Q+Q2, which results in marginal cost of M C = 1 + 2Q. A) ..
Write a 700- to 1,050-word paper explaining factors that affect supply and demand. Include the following Explain factors that could cause possible changes in supply and demand.
Can you give examples of the companies that have high pension costs. Why are companies using more technology input while reducing labor input. Explain why are the Average Cost Curves U-shaped.
Assume that a monopolist has a demand curve given by P = 1500 - 4Q, and T C = 100 + 5Q2 with MC = 10Q. Calculate the dead weight loss. Calculate the producer surplus
A Chinese retailer offers to purchase running shoes for $55 per pair and tennis shoes for $55 per pair for distribution in China. Should the shoe company sell any shoes to the Chinese retailer?
What does it mean when we say that a firm enjoys increasing returns to scale? What are some factors that contribute to a firm achieving increasing returns to scale (or economics of scale) in the long run?
Use indifference curve analysis to show how the Social Security pension system can reduce annual consumption for some workers who have a strong preference for current versus future consumption.
Compare the development of two imperial powers. What factors inspired these nations to develop empires? How did the powers first gain control over their imperial territories? How did they administer their territories? What role did the local populati..
Consider the iron ore production industry, and assume that there are just two producers, FM and BHP. Initially assume that both firms are identical in terms of their production costs. If the two firms can cooperate, what should they do in order to ma..
Assume an American company sells $10 million in goods to a German firm. The American company will receive less than $10 million in revenues if (assume no transactions to prevent exchange rate risk):
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