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Our desires and satisfactions are often relative not only to what others have but also to what we ourselves have become accustomed to. A small amount of tasteless food can be the source of immense satisfaction to a very hungry person. Is the marginal satisfaction gained by upgrading from codfish to jumbo prawns or from processed cheese to brie as great as the marginal satisfaction in going from one cup of rice per day to two? The marginal cost of the last improvement is surely far less.
discuss the major barriers to entry into an industry.explain how each barrier can foster either monopoly or oligopoly.which barriers , if any do you feel give rise to monopoly that is socially justifiable
Kelly tells Jimmy she will pay him $1,000 if he builds a shed in her backyard. Kelly is a(n) Livewire Company and McCoy's Candy, Inc., sign a document that states Livewire agrees to design a Web page for McCoy's, which agrees to pay for the service. ..
ESPN currently pays the NFL $1.1 billion per year for eight years for the right to exclusively televise Monday Night Football. What is the net present value of this investment if the parent Disney Company has an opportunity interest rate equal to its..
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis? What is the difference between shutting ..
Explain in detail the concept of excess burden and explain the factors significant in the calculation of the excess burden. What is marginal excess burden and why is it important concept for policy evaluation?
In 1986, John Deere was building a capital intensive factory to produce large, four-wheel-drive farm tractors. Then the price of wheat dropped dramatically, reducing demand for these tractors because they are used extensively for harvesting wheat. Ca..
Compare and contrast the facility costs of VectorCal and the US Government. Determine at least two advantages for using facility costs for both VectorCal and the US Government. Explain your rationale. "Procedures of FCCOM".
Identify an economic theory or relationship you could estimate via OLS and describe the hypothesis you would test for that theory or relationship.
Carrboro has three equal-sized groups of people: (1) type A people consistently prefer more police protection to less; (2) type B people prefer high levels of police protection to low levels and they prefer low levels to medium levels; Which types of..
A primitive economy uses two inputs, capital and labor, to produce two products, food and shelter. The marginal rate of technical substitution between capital and labor in shelter production is 1/3, while the MRTS for food production is 1. How, if at..
q1. research comes out that supports that drinking more green tea helps to keep you healthy. ceteris paribus what would
One has yearly income $10000, the other has yearly income $90000. Illustrate what is the Gini coefficient for this society.
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