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Your decision to pursue a higher-level degree is based on investment in human capital. What are the marginal costs and benefits of pursuing additional education and the inherent risks associated with this decision?
Explain how will reduced smokers affect the GDP in the long and short run. What does increased revenue from cigarette taxes do to the deficit and budget.
A consumer lives three periods, called the learning period, the working period, and the retirement period. Her income is 200 during the learning period,
The local utility company applies a "declining block" rate structure for its industrial consumers, that lower unit price is charged for higher quantity blocks of electricity and water usage. Is the company practicing any type of price discriminati..
Consider a monopolistic firm producing a good with the following cost funciton C(y) = ay where a > 0. The firm faces the following demand function D(p) = Bp-n where B, n > 0. This kind of demand function is known as CES (Constant Elasticity of Substi..
Select a company or organization with which you are familiar and determine which of the five dimensions of the business environment has the biggest impact (either positive or negative) on that company/organization. Explain the rationale behind you..
If the prices of A, B, and C are $2, $3, and $1, respectively, and the consumer has $26 to spend on these three products, illustrate what combination of the three products should be purchased in order to maximize utility.
One of the goals of macroeconomic policy is to reduce the severity of business cycles. Q. If the severity of business cycles were reduced, what would be the effect on each of the four types of unemployment and on the unemployment rate as a whole
Suppose the Government decides to subsidize exercise by $2 for every mile (Q) consumers run at a health club that charges by the mile. The current demand for running is Q=12-2p.
Derive the equation for output per effective worker y = Y/EN = f(k), where k equals the amount of capital per effective worker. or calculate the steady state levels for each.
Ralph Waldo Emerson once wrote "want is growing giant whom the coat of have was never large enough to cover." How does this statement relate to the definition of economics
Variables other than the rate of interest affect gross investment. Changes in these other variables cause investment demand to shift downward or upward. What should happen to the economy’s investment demand when there is a change in the following var..
Consists of performing application oriented exercises wherein specific economic principles learned in this course are put to practical use.
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