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What do you mean by a social welfare function? If you assume that such a function exists, what properties of social optima would be considered by you? Discuss such properties.
Assume you run a pizza store and currently have two workers. If you hire a third worker, your output of pizzas per day rises from 55 to 65.
Consumer Sovereignty & Dollar Votes guide the market system in dealing with which fundamental question a) What will be produced b) How is the output to be produced c) How can the system accomodate change d) Why is to recieve the output
A. What is market failure What are the major reasons that a free, unregulated market in medical care might not be optimal B. What assumptions of the perfectly competitive marketplace are violated in medical markets How does each affect equilibrium ..
Given the economic situation today, outline the discretionary fiscal policy you would promote if you were president. In terms of the AD-AS model.
If you are a manufacturer do you necessarily want the gray market to cease to exist? Why or why not? How about if you are a franchised dealer?
A monopolist has two types of customers. There are 100 of TYPE A, who will each pay up tp $10 for a single unit of the good, and 50 of TYPE B, who will each pay up to $8.00.
1. If interest rates or opportunity costs investment, happened to be the same in both developed countries and emerging economy nations, what could account for faster upward shifts in the latter group's planned investment functions 2.Are stocks of ..
Canadian firms that buy machinery and equipment from US suppliers c.cross border shoppers from Canada who shop for goods in the US retired Canadians who live in Arizona and Florida during the winter months
According to theory, if you lower interest rates, business investments and consumer purchases of large durable goods are supposed to increase. In return, this is to help pull us out of a recession. However, this policy of extraordinarily low inter..
If the government had the option to either make changes to the tax rates or vary government spending to combat a recession that is already in progress, which of these two fiscal policies do you think would have a greater time lag to see its effect..
Give at least two examples of a perfectly competitive market and explain what characteristics led you to that decision. Second, give at least two examples of a monopoly market and explain what characteristics led you to that decision.
The Value of the Marginal Product of Labor Equation is an important equation.
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