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Which of the following is a true statement about? self-interest as used in the study of? economics?
A. Any action can be based on? self-interest if the person has some reason for the action.
B. ?Self-interest means that people will never perform an act of charity.
C. ?Self-interest implies that people are selfish.
D. ?Self-interest means that people want greater levels of wealth more than anything else.
q1. an oil company refines crude oil valued at 62barrel and sells it to motorists at its retail outlets. the price is
Suppose both product and factor markets are competitive, why is the labour demand curve downward sloping? How does technological progress shift the labour demand curve? Professors, lawyers and doctors receive similar amounts of education, why are pro..
In looking at market structures we often see that monopolies are sole providers of a good or service. In looking at utility companies, why are they typically awarded the ability to be monopoly from government?
Consider the following two-firm Cournot game. Suppose market demand is given by the equation P=24-Q, where Q= qA+qB. Suppose each firm has only four options: 6,7,8, or 9 units of output. What is/are the nash equilibrium for this game? Does the domina..
People often change the form of a promise in an attempt to increase their certainty that courts will enforce it according to its terms. For example, suppose the rich uncle in Example 1 wanted to assure his nephew of the enforceability of the promise ..
What are your predictions for the US economy over the next two years? Use the macroeconomic models you have learned to present a reasoned answer. Explain your assumptions clearly.
What is the marginal rate of substitution (MRS) and why does it diminish as the consumer substitutes one product for another? Use examples to illustrate.
Simply speaking increasing inventory turnover is an important goal for retail manager. Illustrate what are the consequences of turnover that's too slow.
What effective interest rate should be used for a semiannual (twice per year) payments with an APR=15% compounded weekly? Show all your work
Price higher in monopoly market. Bigger quantity in perfect competition. How can a firm gain by reducing competition.
Make two income statements, are utilizing the traditional accounting approach another using the opportunity cost approach to determine the profit.
Suppose a consumer’s preferences over goods 1 and 2 are represented by the utility function u(x, y) = (x+ y)^3. Draw an indifference curve for this consumer and indicate its slope.
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