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What are the three basic social dimensions (also referred to as the three dimensions of inequality)? How would you describe each of them? What specific examples of each of the dimensions can you describe other than those given in the lesson?
An article appears in the New York Times revealing scientific research that eating dark chocolate daily reduces your risk of a heart attack by 25%. In the short term, what will happen to the demand for dark chocolate?
The Lumins Lamp Company, a producer of old-style oil lamps, estimated the following demand function for its product: Specify the marginal revenue function. Write an equation for the total cost (TC) function in terms of Q. Specify the marginal cost fu..
Variable costs are costs that:
Phelps-Dodge plans to expand capacity by purchasing equipment that will provide additional smelting capacity. The cost of the initial investment is expected to be $16 million. The company expects revenue to increase by $3.8 million per year after the..
GDP matters. Investors and business leaders are always anxious to get the latest numbers. When the Bureau of Economic Analysis releases its first estimate of each quarter's GDP, normally on the 27th or 28th day of the month after the quarter ends, it..
Find an article from a reputable news outlet (this should be a news article not an academic one) that both relates to the content of this semester and contains a graphic presentation of data. Assess how well the author's graphic accurately communicat..
Explain demand schedule and demand curve, and how they are related? Why does the demand curve slope downward?
The result was an increase from $8 to $32 per unit per year. What were the effects of these changes on Belk's economic lot size and relevant costs?
In the eclectic economy of Ecentricitia, their currency is the Ecentric dollar (ED). 0.05 of each ED earned by Ecentricites goes to taxes. 0.09 of each ED earned is spent on imports. After taxes, they save 0.15 of each ED. What is the Government spen..
Your firm wants to sell its product in each of several foreign countries, and you must decide whether to do so by exporting or by producing locally for that market through FDI. If you export to a given country located at a distance d, what would the ..
What is the equilibrium quantity and equilibrium price for the following demand and supply curves:
The annual opperating cost of the new operating machine is $7,000. The company uses a 20% MARR. Calculate the annual equivalent total cost for each machine. Would you replace the old machine at this time?
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