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1. What are the benefits/challenges of being an entrepreneur and the benefits/challenges of working for someone else? Which do you prefer?
2. Of these, which do you think the US has in abundance?
3. Based on your answer to number 2, what industries should the US be focusing on and what are examples of industries
What are some of the considerations and concepts behind planet-wide laws In your opinion, is this a healthy step forward for humankind. In terms of technological but also social development, what do you think was the significance of the Bronze Age.
What is the equilibrium? If the government freezes the price of gasoline at its initial equilibrium price, how much of a surplus or shortage will exist when supply is reduced as described above?
Describe how the market for corn would be influenced if ethanol, a corn derivative was used to fuel cars in US. How would market be influenced if a new technology caused corn farming to be more efficient?
1. What does it entail?
Find the probability that on a given Tuesday more than 30 students will be absent and compute the expected value of X
Suppose the Clean springs water company has a monopoly on bottled water sales in California. If the price of tap water increases, what is the change in Clean springs' profit maximizing levels of output, price, and profit
Discuss how payment systems have evolved over time to reduce transactions costs and predict how technological advancements will continue to reduce transaction costs in the future. Provide specific examples to support your response.
What is the quantity of magazines that needs to be sold per month in order for the operation to break-even and what will happen to that break-even quantity
The private marginal benefit for commodity X is given by 10 - X where X is the number of units consumed. The private marginal cost of producing X is constant at $5. For each unit of X produced, an external cost of $2 is imposed on members of socie..
What are the four major types of markets in microeconomic analysis and what are the key characteristics that distinguish these markets?
In the competitive industry, reduction in property tax rate on fixed capital (plant) would reduce the fixed cost of all firms. This would have the following short-run effects on P, Q, and q respectively.
Explain the rationale for government regulation of companies with market power. Is regulation in the customers interest or in producer's interest and how might this control special interest groups?
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