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Regarding the common law and civil law system:
1. According to the empirical evidence of La Porta and colleagues, which system appears to be more efficient? list one weakness with this evidence.
2. Assuming that one system is more efficient than the other, why might a country that uses the less efficient system fail to switch to the more efficient system, as the Evolution to efficient laws Hypothesis suggests? Explain.
Assume the demand for plastic surgery is price inelastic. Are the following statements true of false? Explain. When the price of plastic surgery increases, the number of operations decreases.The percentage change in the price of plastic surgery is le..
A group of investors is thinking about buying a ticket also sharing the proceeds if they win. The organizer offers the following deal.
the original manufacturer is deciding whether they should continue production of the toy truck. If the estimated demand is $100,000 trucks, what is the breakeven price for the toy truck? Should you shut down?
Illustrate the full income budget constraint on an individual who has T0 units of discretionary time, Y0 units of unearned income and a wage rate of W0. In the same diagram, illustrate the utility maximizing choice of leisure and goods/income. Indica..
Multinational enterprises are sometimes compared to colonial enterprises that operated at the end of the 19th century. Colonial enterprises were often private firms that benefited from government protection and control of foreign countries. Is this a..
Sometimes stores have sales that limit the quantity you can purchase at the sale price. If you buy more than the limit, you pay the full price. Assume that your local grocery store is having a sale on yogurt where the first 5 are on sale for $1.00 pe..
Your dental clinic provides 3,000 exams for private pay patients and 1,000 exams for members of a union. Your fixed costs are $50,000 and your incremental cost is $40. If the union negotiated a fee of $45 instead, what would you charge private pay pa..
Use indifference curves to distinguish between income and substitution effects, using the above techniques explain why the demand curve slope downwards, What are the main criteria for designing a tax system, To what extent do you think the national..
The marginal cost of production is $30. Which product should go to the retail market and which should go to the wholesale market? What are the corresponding retail and wholesale prices? What would happen if the sales are switched from the retail t..
According to the rule for optimal input usage, a firm should hire a person as long as her marginal revenue product is greater than her marginal cost to the company.
At a separating perfect Bayes-Nash equilibrium, what is the maximum amount of advertising that a restaurant conducts. What is the minimum amount.
q1. in recent years the value of the dollar had declined relative to the euro. what does that mean for european
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