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a. )The food and drug administration classifies tobacco an "addictive substance."b. )The congress votes to raise the excise tax on all tobacco products.c.) Hurricane Fran dumps 15 inches of rain on North Carolina and destroys 80 percent of that state's tobacco crop.d.) Sixteen states sue the major tobacco companies for billions of dollars because of tobacco-related costs in their Medicaid programs. e.) Medical evidence that more than two cups of coffee a day (Considered by many to be a substitute for smoking) greatly increases the risk of stomach cancer.
What is the equation of his budget line and sketch the budget line and two possible indifference curves that Herbert
The cost of other variable inputs is $2,000 per day. You are told that the firm's fixed cost is high enough so that the firm's total costs exceed its total revenue.
Assume the labor force decreases in size due to the large number of people reaching retirement age and subsequently entering retirement. At the same time real interest rates in the economy fall. What will happen in the economy?
Both industrial unions and craft unions attempt to raise their members' wages, but each goes about it differently. Explain the diffeence in approaches and describe the impact these differences have on excess quantity of labor supplied.
A perfectly competitive firm encounters the following monthly costs and price. What is the fixed cost of this firm? What is the optimal output of this firm?
For each of the following state whether you would make an aggregate demand or aggregate supply diagram and forecast what shift each condition would cause in the AS or AD curve and why so.
A company used a combination of inputs that was to left of its isocost line, it would indicate that
Determine which system, socialist or capitalist, feudalism or mercantilism, works better? Explain your reasoning? Also, which type of business gives the owner highest protection or the most incentive to succeed?
Recently, there has been a lot of press about high lead content in toys made in China. This negative press can affect the foreign exchange rate in the United States dollar and Chinese yuan.
In which type of handling system is labor cost generally the highest percentage? mechanized semiautomated automated information-directed
Suppose that competition among several market makers forces the spread down to $2. How many goods are traded?
Examine how an organizations in each market structure like perfect competition, monopoly and monopolistic competition maximize profits.
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