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Start with your factors of production on page 34 and then briefly describe whether these resources were allocated efficiently. Think about how you can check whether marginal benefit equals marginal cost for each of your household’s activities. Are your household’s resources allocated fairly? Think about the two ideas of fairness and how they apply in your household.
bank prime loan rate imports of goods amp per capita income.briefly explain why the three variables are appropriate
An appreciation of the U.S. dollar would shift the ________. An increase in the costs of resources or inputs of production would shift the ________.
How much would government get if it introduced a 15 percent income tax? Revenue $ d) How much would government get if it introduced a 15 percent sales tax on final output?
Using human capital theory elucidate what these dangers are. While there may be good reasons for heavily subsidizing university education, there are also some dangers in it.
Which of these can be a value turnoff for customers?
Explain what you would rather maximize your total or marginal utility? How do you think you would determine when to stop consuming if you were at an all you can eat buffeted?
All the big computer manufacturers have little "Intel Inside" logos in their television advertisement.
Which of the following is true of the discount rate?
Pick a firm in the fashion/retail industry. In your opinion, how does the firm you selected acquire market power? What impact do barriers to entry have on the firm's market power?
This grazing land was for whole town and families could allow their flock of sheep to graze free of charge. Why is it that grazing land was not protected by individual families.
Illustrate what is the total number of wells which maximizes the sum of the profits of both firms.
One point made is that most demand curves are downward sloping. Can you think of any situation where an individual's demand curve for a product is upward sloping.
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