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Should sports leagues be allowed to remain as cartels? More than 100 years ago, the American legislative leaders decided that it was necessary to pass laws prohibiting "...any combinations or conspiracies in restraint of trade." However, the professional sports leagues are exempt from these laws. Explain the reasoning behind the exemptions and give your opinion as to whether they should continue to receive these exemptions.
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To find and explain the Nash equilibria of a widespread form game can I use the equivalent normal form game to do that.
Wages in the United States vary in every state, because each state has different minimum wages, but the best to my knowledge wages are determined and priced for every field profession and its factors. Is it possible you might revisit your thought on ..
When transaction costs are low enough, efficient resource allocation will follow regardless of the particular assignment of property rights. When transaction costs are high enough, efficient resource allocation requires assigning property rights to t..
Explain the events below using supply and demand. At a restaurant that does not take reservations, people arriving at 7:30 normally have to wait for an hour, but some people arriving at that time give money to the hostess and are promptly seated.
If prices of x and y are doubled while the income remains the same, the budget constraint:
A small country that imposes a tariff will observe: Refer to the figure above. The impact of a tariff on shoes on the amount of domestic producer surplus is a __________ measured by area __________. Suppose the "Effective Rate of Protection" for Braz..
The vertical long run AS curve compatible with classical economics implies that AD only determines the price level
A nation that imposes tariffs on imported goods may find its welfare improving should the tariff result in a favorable shift in the terms of trade. Explain
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A large automobile manufacturing company is considering the installation of a high-tech handling system. Show your cash flow diagram from the company’s perspective. Should the system be recommended for investment? Show all your work and detail your r..
Determine the present worth of a geometric gradient series with a cash flow of $50,000 in year 1 and increases of 6% each year through year 8. The interest rate is 10% per year
Find the equivalent of present worth (t = 0) of a uniform series of $4550 for 8 years, if the payment is made every 12 months, starting 6 years from now. Assume the interest rate is 12% per year, compound continuously.
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