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How many fish should a commercial fisher try to catch in a day? Should he catch as many as possible or return to dock before filling the boat with fish? Under what economic circumstances should he not even take the boat out?
If a firm is incurring an economic loss, would society be better off if the firm shut down? Would the firm want to shut down? Explain.
Is Apple Computer a perfectly completive firm? Explain your answer.
Explain the 4 ways the Federal Reserve would increase the money Supply and explain and graph how this would impact interest rates, consumption, and investment, AD, GDP, Prices and Unemployment. (Make sure to include both the money and the goods graph..
If the variable is almost normally distributed does that mean you use common distribution.
If production of an item results in negative external costs, then the market price is below the socially referred price that reflects the external costs the market price is above the socially preferred price that reflects the external costs market fo..
The U.S. has historically low interest rates at present. How would you predict these would impact the value of the dollar on foreign exchange markets? How, in turn, would these low interest rates impact our balance of trade?
Two manufacturing firm, located in cities 90 miles apart, both send their trucks four times a week to the other city full of cargo and return empty. Each driver costs $275 per day with benefits (the round trip takes all day) and each firm has truck o..
Twenty-eight percent of all liquid crystal displays (LCDs) are manufactured by Samsung. What is the probability that in a collection of three independent LCD purchases, at least one is a Samsung?
Illustrate what is the distinction between marginal revenue product also marginal revenue. How does the government of Canada redistribute income.
An upward or downward movement along a given demand curve or involves an outward or inward shift in the relevant demand curve for housing.
Why might variations in the dollar's value in terms of other currencies cause the trade deficit to move independently from the changes in the government budget deficit.
A consumer receives income y in the current period, income y' in the future period and pays taxes of t and t' in the current and future periods, respectively. The consumer can borrow and lend at the real interest rate r. This consumer faces a constra..
If excess profits are taxed away, where will oil companies get the money to fund new exploration and development of oil properties? Does it matter if these price increases are demand or supply induced?
Solve for the amount imported, consumer surplus, and producer surplus. Suppose a per unit tariff of $64 is imposed by the government. Solve for the consumer surplus, producer surplus, government revenue and total surplus with the tariff.
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