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Business its legal, ethical, and global environment 10th edition chapter 6 QP 2, page.204 what process must the CPSC follow to promulgate the rules? What do you think of the consumer group head's statement? Will that statement alone justify the rulemaking?
The production process requires labor and capital as inputs. Labor costs $6 per labor hour and capital costs $12 per machine hour.
How much profit does each firm make? Suppose Firm 2 produced 10 units of output. How much output should Firm 1 produce in order to maximize profit?
Describe a Pigovian taxes. If Pigovian taxes are imposed in the presence of negative externalities then does this create a deadweight loss? Describe a real-world situation where a Pigovian tax will be applicable. Show using a diagram. What might be t..
Many police officer positions being advertised today require the applicant to have a college degree even though the tasks of a police officer rarely call upon college course material. Why don’t police departments increase their applicant pool by drop..
A bright OU student plans to win first prize in the Ohio University Scripps Innovation Challenge that began Jan 17 and ends March 13. He will invest his $10,000 winnings in a friend’s 5-year-old startup company and expects to gain 10% interest per ye..
A foundry uses 3,600 tons of pig iron per year at a constant rate. The cost per ton delivered to the foundry is $145. It costs $92 to place an order and $18 per ton per year for storage. Find the minimum-cost purchase quantity.
Which of the following will never be negative in economic theory?
Explain your answer the economy experiences an unexpected recession; the price of Good Z increases. The price of Good Y increases; the price of Good Z increases.
Economic Projections you have just been appointed the new Economic Advisor to the U.S. Government and have been asked to develop an economic series of projections for the U.S. domestic economy for the next year. Outline your new forecast based on cur..
A firm uses labor and machines to produce output according to the production function f(L, M) = 4L^1/2 M^1/2 , where L is the number of units of labor used and M is the number of machines. The cost of labor is $40 per unit and the cost of using a mac..
Perfect Competition - Draw supply and demand graphs and show how the following situations would shift supply or demand. Does Price (P) and Quantity demanded (Q) rise or fall? The Affordable Care Act increases the number of individuals with health ins..
Elucidate briefly in what way the HOV, or factor content theorem, extends the standard HO model.
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