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In the Soviet Union, especially in the early decades under Lenin and Stalin, the official doctrine was Communism, and the use of incentives was considered a form of treason. One important exception was the military equipment sector, where bonuses were common for engineers who designed and manufactured jets, nuclear missiles, tanks, and rifles. Why was this exception?
Do you consider yourself an early adopter when it comes to trying out new products or new fashions, or do you tend to take a wait-and-see attitude? How does your attitude toward new products and new ideas influence your decision making as a consumer?
Predict what will happen to the economy in the short run if household debt rises and at the same time the government increases subsidies to firms. Predict what will happen to the economy in the short run if there is an increase in taxes and at the sa..
The market demand function is Q=80-p. Describe the profit maximizing input use, the output price, and the monopolist's profit.
Derive the long-run average cost and marginal cost equations, and plot them on a graph. At what level of output does average cost reach its low point?
For out Back Steakhouse, seating capacity is limited in the short run.
Compute the elasticity of trades with respect to every inconsistent in the demand function.
neither person may trade away any water to the other for exchange for more bread. Set up an Edgeworth Box to depict this situation and elucidate why it is unlikely to be Pareto efficient.
Mining is proposed for a wilderness area that provides two benefits: recreation (due to backpacking opportunities) and biodiversity (there are endangered wildlife and plants). Which discount rate makes the best case for mining? What is the present va..
I was watching a documentary about a scientist fishing for giant stingray in Thailand. They ran into a fisherman on the river late at night. The fisherman said he was fishing for giant river shrimp (the things were the size of lobsters). The scientis..
Which of the following would not occur as a result of a monopolistically competitive firm suffering a short-run economic loss?
What he didn't foresee was that number of T-shirt stores in South Padre would jump from roughly 10 to 40 within two years. Now he laments.
What variable adjusts to make the quantity of money held equal to money supplied?
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