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A representative of the Environmental Protection Agency (EPA) wants to select samples of 5 landfills. The director has 10 landfills from which she can collect samples. How many different samples are possible?
Why may the effective patent life of a drug be shorter than the legal life. Explain why may the effective patent life of a drug be longer than the legal life.
Government increases its spending by $2 billion and raises taxes by $1billion. Illustrate what happens to equilibrium income.
Labor Supply. Catholic priests take a vow of chastity, forgoing marriage and intimate non-marital relationships. This question relates to the article posted on Angel
In fact, an insurance agent explains that he is always true. Nevertheless, the engineer buys fire insurance. Explain why this is or is not a logical decision.
Do you agree or disagree with the statement that " A mononpolist always charges the highest possible price"? Explain B.) why can’t an individual firm raise it price by reducing output or lower its price to increase sales volume in a purely competitiv..
Assume consumer equilibrium (budget curve and indifference curves). Draw 3 separate scenarios: (1) the price of good x decreases; (2) the price of good y increases; and (3) the budget (income increases). In each scenario, explain the effect on the gr..
Suppose without trade, country A produces and consumes 100 units of widgets at a price of $10 each. Illustrate what is the total gain or loss from trade for country A.
A free-market republican argues against the Pigouvian tax by pointing out that the conditions necessary for the Coase Theorem to produce an efficient equilibrium are present in this situation. Assuming that the republican is correct, describe two met..
Suppose Larry, More, and Curly are bidding in an auction for a mint-condition video of Charlie Chaplin's first movie. Each has in mind a maximum amount that he will bid.
Consider a simultaneous-move auction in which 2 players simultaneously select bids, which must be in nonnegative integer multiples of one cent.
In the small town of Springfield, Duffman observes that the price of beer has fallen. Duffman concludes that the total amount of money spent buying beer has to fall since the price of beer is lower.
A monopolist faces the demand curve Q = 11 - P . The monopolist has a constant average (and marginal) cost of $6 per unit.Draw the average and marginal revenue curves and the average and marginal cost curves. What are the monopolists profit-maximizin..
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