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If I spent all my money ($450,000) on a new house I could buy a house with 4500 square feet. I settle for a 1500 square foot house. (Each square foot costs the same.) The day after I close the deal a nearby nuclear power plant is condemned and the value of homes in the entire area is cut in half. Show graphically what happens to my utility level and explain why the result is plausible. Put numbers on your graph showing the wealth and housing possibilities after the housing prices fall.
q.social regulation is undertaken with the intention of improving the quality of life. the agencies most people are
q. a county is considering using a piece of park land for one of two alternative recreation projects. project s would
Give an example of an event or incident that has taken place in the U.S. economy which has a major economic impact--be specific.
Indicate whether there will be economies of scale, diseconomies of scale, or constant returns to scale if the facilities are built optimally.
You have just deposited $1000 in an investment that promises to pay you $100 per year for the next 20 years (starting at the end of this year). What is the effective annual interest rate earned for this investment, assuming annual compounding? As alw..
Discuss major fundamental shortcoming of theories of cost determination in england prior to roughly 1870, why failure.
We are seeing a merging of media firms. For example, companies like Verizon now provide phone, cell, TV and internet. A common form of selling services involves putting them together in packages or “bundles” and offering them for a lower price than i..
what is the wage, quantity hired, wage plus employer taxes and wage minus employee taxes if employees pay a $6 tax?
Recently, the owner of a Trader Joe’s franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $60,000 and her store made $130,000 in profits (not counting payment to her top manager). She suspected t..
Economies of scale exist whenever:
q. suppose if the spot rate for won is 800 won equals 1 us also yearly interest rate on fixed rate 1 year deposits of
Compare the market-wide result of the individual perfectly competitive firms' choices of profit-maximizing output level with the choice of the monopolist. Explain the implications of the break-up for the profitability of industry members, for soci..
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