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The mercantilists and the physiocrats each thought that a particular social class held the key to social progress in their respective societies. What were these classes, and what element of reasonableness (from the standpoint of economic theory) was there in their advocacy for these respective classes? In today's U.S. society, do mainstream economists believe that a particular social class is the key force for development and progress? If so, describe that class and the element of reasonableness (from the standpoint of economic theory) in this belief. (If not, provide a discussion of what does constitute the source of development and progress in modern society). Offer a critique of each of the three beliefs about the sources of progress.
suppose south korea can produce 100 computer chips with 10 hours of labor input and 50 bed linens with 6 hours of labor
Consider this work situation: employee plays games at work all day and uploads an spreadsheet screen when boss is close. a) How is this an economic problem? How can you solve it with economic tools based on game theory?
The Federal Government announced a tax rebate of $500 for all individuals filing singly
in oligopoly each firm is acutely aware of the production and marketing decisions of all competitors and carefully
What are the short- and long-term economic benefits and costs associated with our current high federal government budget deficits Do you think the economic benefits outweigh the economic costs, or not Why If we wished to reduce the budget deficit t..
Instead of the tax per bottle, suppose that the government imposes a tax on Placebo of $10,000 regardless of how many bottles are produced. How does this tax affect Placebo’s price, quantity, and profits? Explain.
At an Asian mobile service provider, the demand for voice calls has a price-elasticity of demand (PED) of -0.085 (or if we take the absolute value, PED = 0.085) and cross-price elasticity (CED) with respect to the price of short message service
Suppose that the inverse demand function is given by P=50-Q, and cost function of a firm is C=5qi: (1) For a competitive industry, find the market price, market output and the profit at the equilibrium.
suppose the recipient of a kidney transplant has stated that she would prefer 5 years of perfect health to the 10 years
Discuss and explain how coaching rather than managing people can enhance a leader's understanding of RQ and therefore provide a better understanding of their followers.
Which of the following is an example of a two-part tariff? Which of the following industries is most likely closest to achieving perfect price discrimination?
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