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What are the two arguments for government support of secondary education? What is an external benefit? If there is an external benefit in a market, will the free market equilibrium yield an optimal solution?
Demand for good X has been estimated at Qxd = 12-3Px+4Py. Suppose that good X sells at $2 per unit and good Y sells at $1 per unit. Calculate the own price elasticity.
Could you please explain why long run supply curve can be downward sloping and implication for behaviours of price as demand increases over long run.
Bill gets utility from consuming food (F) and clothing (C) represented by the following utility function: U(F,C) = FC + F. The price of food is $1 per unit and the price of clothing is $2 per unit. Bill’s income is $22. Find the utility maximizing ch..
The GDP is a total market value of final goods and services produced within a country over time. Why is this a reflection of this country's cost of living so varied making expenditures.
Expansionary monetary policy, or an "easy money" policy by the Fed..
Illustrate what is the total cost of finding a new plot of grass and getting y units of grass from it.
Avoid having developed economies regress to a Smoot-Hawley type of isolationism or protectionism to avoid job losses in import-competing sectors.
The elasticity of demand for labor with respect to the wage rate will be less if firms using this labor are experiencing decreasing returns to scale than if they are experiencing increasing return to scale True false why
suppose that the government is debating whether to spend 100 billion today to address climate change. it is estimated
Suppose that you close down your coffee shop and sell your coffee maker for $500. If you originally bought the coffee maker for $4,000 and it lost $1,000 because of depreciation (i.e., age and use), the sunk cost of the coffee maker is:
You are the manager of College Computers, a manufacturer of customized computers that meet the specifications required by the local university. Over 90 percent of your clientele consists of college students. what price and quantity of computers shoul..
Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s). Draw a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve.
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