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Is this farm able to produce 8,000 bushels of corn and 13,000 bushels of soybeans?
What does this combination of output suggest about the use of resources?
Ben is choosing between two different industrial fryers using an annual worth calculation. Fryer 1 has a five- year service life and a first cost of $ 400 000. It will generate net year- end savings of $ 128 000 per year. Fryer 2 has an eight-year se..
Illustrate what are influence of following changes in policies on private saving and national saving. New policy: Increase in government purchases by $100 and taxes by $80. (MPC=0.7) Estimate amount of changes.
What are some of the differences between the two globalizations discussed in the paper? What evidence do the authors provide to show that trade today is more important than a 100 years ago? What misconceptions about the differences do the authors add..
A refrigerator sold for $500. The store financed the refrigerator by charging 0.5% monthly interest on the unpaid balance. If the refrigerator is paid for with 30 equal end-of-month payments:
How does the Coase Theorem provide an alternative to government regulation and provision of services? How is the definition of private property critical to the Coase Theorem?
Illustrate the marginal revenue curve that corresponds to positive marginal revenue. Line segments will automatically connect the points.
Why does the government grant patents to companies that research new drugs?
For each of the following situations, find the consumer’s optimal bundle. Be sure to show your work. Also, for each case, draw the consumer’s budget constraint, indicate the optimal bundle on the graph, and accurately draw the indifference curve that..
If marginal cost is below average variable cost:
Show and discuss the economics of land reform policy to redistribute agricultural lands across two equal groups of farmers. Assume the two groups have the same human capital in terms of farming (same Marginal Product curves) and that the amount of ag..
Comment about substitution effect and income effect when price of good one alone decreases if the goods are perfect substitutes.
What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain.
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