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Evaluate the statement: “The only time that a change in resource allocation clearly increases social welfare is when the change represents a “win-win” situation.”
The U.S. Constitution bans states from restricting imports of goods and services from other states. Suppose this restriction did not exist and that states were allowed to limit imports of goods and services produced in other states. How do you think ..
Imagine a community with only one insurance company that provides coverage to everyone in that community (a universal insurer). Currently, the payer does not pay anything for physician office visits. However, bowing to intense lobbying pressure, the ..
Sally deposited $100 a month in her savings account for 24 months. For the next five years she made no deposits. What is the future worth in Sally's account at the end of seven years if the account earned 6% interest annually, compounded monthly?
At what level must be a ceiling price imposed upon the monopolist's market to cause the monopolist to supply the efficient quantity supplied?
A publisher is considering launching a new magazine for women in the 18–25 years age group. It is thought to be vital to the long-term success of the magazine that its sales should reach break-even point within its first year. Explain why the estimat..
You have decided that in order to have a comfortable retirement you will need to replace $65,000in income each year in retirement. Assuming you will need 20 years of retirement income and an inflation rate of 3.5%, how much will you need to have save..
Positive economics deals with
Give a list of possible ingredients that you will use for your particular project (term paper project). What will be the sources of the needed information in estimating your project costs? List as many specific sources to estimate your costs includin..
Hillary spends all her income on milk and cookies. Graph Hillary's budget line when income = $20, Pcookies= $1 & Pmilk= $2. Pick some point in the middle as her optimal choice and draw in the appropriate indifference curve. (PUT MILK on the Y-axis) D..
Clearvoice is a wireless telephone monopolist in a rural area that serves 100 high-demand consumers, each of which has the following monthly demand curve for minutes of wireless service QHd = 100 − 100P, Which of the following per minute prices in th..
Describe and discuss your price elasticities for such products and discuss the movement of your demand for such a good when the price of that good rises. Share with your classmates whether your demand for the selected good is elastic, unit elastic, o..
Describe two ways in which greater education opportunities for girls could lead to faster economic growth.
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