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If hog farmer can buy more corn because corn prices have dropped, then it is cheaper for him to raise hogs. What happens to the demand curve for hogs? What happens to the supply curve for hogs? What happens to equilibrium price for hogs?
In Role of Government in Regulating Business Ethics and "Business Ethics: The Law of Rules, the authors seem to argue that overreaching laws and regulations do not facilitate ethical behavior, and indeed might have the opposite effect. Using these ar..
Income from cardboard recycling at Fort Bliss has been increasing at a constant rate of $800 in each of the last 4 years. If this year's income (i.e., end of year 1) is expected to be $4000 and the income trend continues through year 6, (a) what will..
Consider an economy in which production characterized by the neoclassical function Y=K^.5N^.5. Suppose, again, that it has a saving rate of .1, a population growth rate of .02 and a average depreciation rate of .03. Determine what saving rate would y..
The Milwaukee Brewers are playing their archrival the Chicago Cubs. Bleacher tickets for the game were sold out and many fans would have attended if tickets were available. Did the Brewers use the optimum pricing policy? Explain. If not, explain. Wha..
What are important outcomes of growth models such as Harrod-Domar and Solow models? Explain carefully how these results arise. In what way did the developmentalists practically approach the investment question raised by H-D and Solow. Discuss solutio..
How does an increase in capital and/or technology affect wages, full employment equilibrium, productivity and the standard of living? How can this be graphed to show the shift caused by the increase in those factors?
In big picture terms, the point of supply chain management is to minimize costs and improve quality. Comment on the types of foreign locations and the costs and benefits of foreign locations. Comment on the paradox between being more efficient and pr..
Who was responsible for the global financial crisis of 2007-2009? Free-Market capitalism, government intervention, or a combination of both? Identify the causes of the crisis, the steps the private and public sector took to resolve it, and what leade..
Consider data on U.S. Pizza Sales from 2005. The market shares of the top 4 firms was 17% for Pizza Hut, 11% for Domino’s, 6% for Papa John’s, and 2.5% for Little Caesars. Firms 5 through 25 combined summed to 14.5%, and all other independents outsid..
List and briefly discuss three reasons why the United States continues to rely heavily on fossil fuels as an energy source. Why are externalities so important to energy policy analysis? Briefly discuss how the externality costs differ for various ene..
Recycling paper is often praised because it allegedly (ostensibly) helps to preserve forests. Under which assumptions is this a sound economic argument? Are these assumptions realistic? What happens if they are abandoned?
Consider the specific factors model we discuss in class. Suppose that when the Home country opens up to trade, the price of the M good relative to the A good decreases. In our class, we assume that this relative price increases. Which good is exporte..
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