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Each question should be at least 125 words. Do not copy other's , use your own words.
1) How are scarcity, choice, and opportunity cost related?
2) What are the effects of an increase in the minimum wage in the U.S. economy? Who would be most affected?
3) Why is elasticity of demand greater for goods that are a large share of a consumer's budget?
4) What is the difference between accounting profits and economic profits? Which of the two concepts is more appropriate for explaining decisions made by entrepreneurs? Explain.
5) Differentiate between the short run and the long run? What is the appropriate time dimension of the long run?
Copiers cost about twice as much as workers. Would you recommend they hire another employee or buy another copier?
"Because diversification is a desirable strategy for avoiding risk , it never makes sense for a bank to specialize in making specific types of loans." Is this statement true , false , or uncertain? Explain your answer
Each day Paul, who is in third grade, eats lunch at school. He likes only twinikies (t) and soda (s), and these provide him a utility of utility = U(t,s)=(ts)^1/2. If twinkies cost $0.10 each and soda costs $0.25 per cup, how should paul spend the $..
Output is y=(x1^1/2)*x2. The total cost equation is c=3x1+2x2 where w1=3 and w2=2. At the price of the output is p=6 what is the profit maximizing level of x2?
First Problem The production function for fragles is f(K, L) = L/2 + K, where L is the amount of labor used and K the amount of capital used. Does this technology demonstrates increasing, constant or decreasing returns to scale? Is the marginal produ..
Consider two competitive consumers who have the same endowment, with positive current income plotted on the horizontal axis and positive future income on the vertical axis. Each consumer’s current income is taxed at the rate t1 and future income is t..
Select a private-sector, for-profit firm and write a 1,050 to 1,400-word paper/business proposal in which you provide recommendations to that firm. Explain how fixed and variable costs should be adjusted to maximize profit.
When the Fed sells T-bills, Which of the following statements relating Fedwire (the Federal Reserve’s payment system) and CHIPS (the modern equivalent of the New York Clearinghouse Association’s system) is false? The effective federal funds rate is s..
q.use the following table to answer questions a-c.output q0 1 2 3 4 5 6total costtc36 45 52 61 74 91 110a. what is the
Johnny continues to consume burgers and steaks. His utility function is U(xB; xS) = xBxS. The price of burgers is $1, the price of steak is $2, and his income is $40 a day. What is the largest number of burgers that Donna could demand from Johnny in ..
What will happen to GDP and employment? What do you think will be the impact on banks and other financial institutions? Do you agree with the bill?
What are the arguments in for and against proposed executive compensation package at Citigroup? Do you agree or disagree with the proposed package, and why or why not? What were the interests of institutional shareholders in this matter, and why did ..
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