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Sernie Banders wins an election in a far away land, promising free stuff to the entire population. Upon taking office, he confiscates all private property in the country, outlaws the price system, and redistributes all goods in an equal manner to every member of the population. Every citizen receives the exact same allotment of transportation, housing, food, education, etc. Sernie promises to continue this regime into the future. All producers will be asked to continue their previous production levels, but their output will be delivered to government offices for redistribution immediately upon production. Using both the consumer and producer sides, explain why the future of this country is quite grim.
How do entities determine their fiscal period? Give an example. How would you define a highly leveraged company? What ratio would you use to determine this? Tell me one thing you learned from the guest lecture, and how do you think it may be useful f..
discuss several ways in which greater educational opportunities for young women could lead to faster economic growth in these countries.
Luis is a fan of loud music that he plays on his stereo system. His utility function is defined by equation: Find Luis’ demand for hours of music as a function of the price of electricity. Maria moves out, and Gordon moves in with Luis. Gordon’s util..
You plan to borrow $5000 to buy a car. The bank advertises two car loan plans with different nominal interest rates (APRs) and pay-offs periods. Plan A loans the money at the effective rate interest of 12 % compounded monthly, to be repaid over the n..
Assume that an individual has 80 hours per week that can be distributed between two normal products work and leave ( leisure ) . Draw a bid curve for an individual who can earn a maximum of £ 10,000 per week if the individual does not have any leave ..
You have taken a long position in a futures contract on corn at $2.60 per bushel. Over the next 5 days the contract settled at 2.52, 2.57, 2.62, 2.68, and 2.70. You then decide to reverse your position in the futures market on the fifth day at close...
If there are only four Ice cream sellers and the price for ice cream increases from 4 to 6.. By how much does the quantity supply increase?
A market is currently characterized by a perfectly competitive structure. If market demand is P = 200 - Q and MC = ATC = 50 for each of the competitive firms, what is equilibrium output and price in the market? Show work. Calculate consumer surplus i..
Have you ever been deceived by descriptive statistics (measures of central tendency or measures of dispersion)? How did this occur, and whose “fault” was it regarding the deception?
ADVANCED ANALYSIS Currently, at a price of $2 each, 200 popsicles are sold per day in the perpetually hot town of Rostin. Consider the elasticity of supply. In the short run, a price increase from $2 to $4 is unit-elastic (Es = 1). In the long run, a..
The federal system decentralizes political authority and this inevitably affects public administration’s operations at all levels of government. Administration accordingly occurs within a complex environment in which authority is shared among differe..
Cash Flow to Creditors The 2014 balance sheet of Jordan’s Golf Shop, Inc., showed long-term debt of $1 .625 million, and the 2o15 balance sheet showed long-term debt of $1.73 million. The 2015 income statement showed an interest expense of $185.000. ..
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