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Several of the readings we’ve done this semester have suggested that the valorization of certain approaches to social “science” can mean the exclusion of alternative theoretical perspectives. In the “real world” this tension plays out in the policy sphere, in which these different theoretical perspectives offer different policy recommendations. a. Roughly splitting the content of this semester into neoclassical theory and heterodox theory, how do these approaches differ in terms of: i. Normative content and criteria ii. Ethics iii. And the ways that they define or interpret or theorize: 1. Inequality 2. Development b. What is at stake in this debate? According to Polanyi, why is this debate important? i. Do you agree? Why/why not?
He Office of the Registrar at UCSD took a random sample of 427 students and obtained their grade point average in college (COLGPA), high school GPA (HSGPA), verbal Scholastic Aptitude Test scores (VSAT), and the mathematics scores in the SAT (MSAT).
Suppose the government announces a large increase in tariffs on imported cars, which is expected to double the price of foreign cars sold in the future. What will happen to today's demand for cars? Explain your answer.
Show all your calculations and process. Describe your answer for each question in three- to five-complete sentences. 1. You are a business adviser for Alba and Gavigan. Describe a skimming price and a penetration price, and advise them whether they ..
Assume all markets are competitive, the product price is p = $2 per unit, the wage rate is w = $16 per hour and the firm's production function is q=E(36?E), where E is the level of employment and the firm's fixed costs are zero. What is the value of ..
Patents allow a company to have a monopoly for a period of time. Monopolies result in lower quantity supplied and higher prices to consumers. Do you think companies should be allowed to obtain a patent on a product or not?
Assume that the aggregate production function for an economy is described by: where 0
Be sure to label all axis and curves on your graphs. Elucidate in writing to what market your derivation brings equilibrium and how it accomplishes this.
Your product fails about 2% of the time, on average. Some customers purchase the extended warranty you offer in which you will replace the product if it fails. Would you want to price the extended warranty at 2% of the product price? Discuss both mor..
As a manager of a firm you find the marginal cost of the firm to be $10 and the fixed cost $100. For the range of prices that you are planning to charge, own price elasticity of demand is believed to be –1.25. Calculate the optimal (profit maximizing..
Efficiency-wage theory suggests that to improve workers performance, firms should:
Discuss tax systems and political philosophies associated with income inequalities. List and describe the relationship between the two tax principles and three tax systems discussed in this course. Include comments regarding the effects of tax on soc..
How will each affect equilibrium price and equilibrium quantity in a competitive market? Will price and quantity rise, fall, or be unchanged? Based on the magnitudes of the shifts, will the answers be indeterminate?
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