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1. If input prices had increased as firms entered the lithium industry in response to rising demand, what would have been the shape of the long-run supply curve?
2. If the market demand for lithium were to decrease during the 2020s, what would happen to the market clearing price of lithium in the long run?
When Betsy goes to make her list for tomorrow she is upset that she didn't get everything done. In a well-written paragraph explain the economics behind her inability.
Illustrate what would be the effect of poor weather on the consumer surplus, producer surplus, deadweight loss.
The cost of energy for operation high lift pumps in a water distribution system was $1.4 million for the first three years. Beginning in year four, the cost increased by $30,000 each year for the next 12 years. The cost of the energy is at an interes..
Assume that a piece of equipment has a replacement cost of $10,000 and an 8-year life. Calculate its annualized cost at an interest rate of 15%. Show your calculations.
A flat tax plan allows individuals to deduct a standard allowance of $10,000 from their wages. Assume that the flat tax rate is 12%. Calculate the amount of income tax and the average tax rate if you were earning: $30,000 a year $60,000 a year
Scholars have argued that Confucian ideology limited economic growth, while more recently, this same ideology has been used to explain the rapid economic growth of the region. Think about these two contrasting arguments. How can they be reconciled? W..
Suppose that you manage a bank that has made many loans at a fixed interest rate. You are worried that inflation might rise and the value of the loans will decline. Why would an increase in inflation cause the value of your fixed-rate loans to declin..
Why is there currently an even greater need for effective employee communications? Describe some efforts made by U.S. firms that demonstrate the uniquely American concept of corporate social responsibility (CSR). Provide examples to support your answ..
Outline any two reasons, why the marginal revenue product differs between workers in different jobs.
Think about how you can check whether marginal benefit equals marginal cost for each of your household’s activities. By what methods are your households scarce resources allocated? Identify those allocated by the market price; by command; by first-co..
The present machine can be sold on the open market for $14000. The cost to remove the old machine is $2000. Which are the relevant costs for the old machine?
If this were he case would there be any automatic stabilizers in the government economy. Elucidate what would there be any distinction between the full-employment deficit and actual budget deficit.
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