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Under what circumstances, if any, would you advocate restricting the freedom of the press, and to what degree would you restrict it? Substantiate your answer with logical arguments and/or evidence.
The demand for 1,000 units of a part to be used at a uniform rate throughout the year may be met by manufacturing. The part can be produced at the rate of 3 per hour in a department that works 1,880 hours per year.
What is the process by which a recessionary gap closes itself? Explain. Why might this self-correcting mechanism work slowly in the face of a recessionary gap?
Discuss how each of the following will affect the market clearing price and quantity in each market. Discuss how the supply and /or demand curves will shift in the following cases (if at all) Incomes rise and the good is a normal goods.
Elucidate how does the theory of the industry provide an integrated framework for the analysis of managerial decision making.
You are the manager of the surgery department at a hospital which serves mostly Medicare patients. The hospital performs 1,000 surgical operations per year using the traditional method. Compute the total revenue, the total cost, and the profit at the..
After learning the basic estimation techniques in CH 4, which of the following regression models will you choose to explore how population and income determine the demand on pizza and estimate the “constant” income elasticity of demand on pizza? Plea..
Which of the following is an example of a good with a high switching cost?
A car manufacturing company adopts a new technology that, ceteris paribus, increases the productivity of capital. At the same time, workers unionize and demand higher wages. Assume that for this firm capital and labor are substitutable. Which of the ..
Discuss the policies that Keynes as well as Hayek supported regarding how federal government ought to manage economy. What are differences between each school of thought.
In December 1992, the government began requiring that food contain labels with nutritional information. The information had to be verified by independent laboratories. The price of verification was $20,000 per food item. What impact would this have o..
q. the owners of a small manufacturing concern have hired a manager to run the company with the expectation that he
Ernest's income elasticity of demand for natural gas is 0.4. His price elasticity of demand for natural gas is -0.3, and he spends 10% of his income on natural gas. What is his substitution price elasticity?
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