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Consider price elasticity of demand for cigarettes. What are some other products that are similarly price elastic in their demand and what factors influence their elasticity?
Calculate a function M(α), which shows the maximized value of f that can be achieved, given any real number α. Is this function continuous? Assume that a consumer has the utility function U(x,y) = 3x+y, where x and y represent the quantities of two g..
Reinert maintains that the evidence is that North-South trade has a _______ negative impact on the wages of Northern unskilled workers, and that protectionism ___________ a reasonable response.
The insidious nature of anorexia creates strong resistance to weight gain and all strategies to promote weight gain, even in the face of permanent, lifelong physical ailments and even death. Considering this dilemma, do you believe that someone has t..
Suppose that "0" coupon US treasuries due to mature in one year were yielding .39%, while "0" coupon US treasuries maturing in 2 years were yielding .83%. If you were a risk neutral investor who wanted to choose between these bonds the one that offer..
What are the input levels for both x1 and x2 in order to minimize the cost for the orange grower
Describe whether to raise price, the bank managers experimented with a number of higher prices (in 25 cent increments) at selected ATMs.
Explain why a nation that imposes tariffs on imported goods may find its welfare improving should the tariff result in a favourable shift in the terms of trade.
In a pure monopoly, the monopolistic firm is the only one selling the product, therefore there are no constraints on what the firm can charge or on the profit it can make. Do you agree? Why? Discuss various barriers to entry into an industry, explain..
Identify trade policies from 1980 to 1989 and discuss the following points: What are the main goods and services the United States traded internationally? What trade barriers were in place during that decade? What are two pros and two cons of the tra..
Should one distinguish between economist’s descriptive statements, propositions, and predictions about the world, and their statements about what policies should be adopted?
How many major wireless phone handset manufacturers are there?
Which of the following is an example of offshoring? Thomas L. Friedman, a columnist for the New York Times, advanced a theory that he called the "Golden Arches theory of conflict resolution." What does that theory state?
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