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a. Compare the circuit of production under capitalism with the circuit for your family in producing dinner.
b. How do capitalists make profits? Use the circuit of production to identify problems they might face.
c. Why is capitalism an expansive system? Use the circuit of production to identify why capitalists seek new markets for their produce, new technologies of production, and new sources of labor.
Why does taxing a product lead to deadweight loss? Use an appropriate graph to explain why the deadweight loss is greater the more elastic the demand for a product.
Define, and briefly explain the differences among, formative, process, impact, and outcome evaluations, as if to someone in public health who is not very familiar with evaluation.
If the firm has $20,000 on hand, with only these two project to choose from, will they invest in A, B, neither or both? Show the calculations that lead to your conclusions. Explain whether you answers would be different for either project if the f..
Briefly explain the use of graphs as a way to represent economic relationships. What is an inverse relationship How does it graph What is a direct relationship How does it graph Graph and explain the relationships (other things equal) you woul..
What is compound interest? How does it relate to the formula: X dollars today = (1 + i)tX dollars in t years? What is present value? How does it relate to the formula: X/(1 + i)t dollars today = X dollars in t years?
A growing number of businesses' including videogame developers, cigarette companies, soft drink producers, liquor marketers, and fast food chains are feeling the heat from government, the press, and society at large for encouraging harmful consume..
If this firm was under perfect competition, what would be the efficient level of output in the long run?
microeconomic problem1. suppose a business finds that output varies according to the following schedule as it adds more
explain the most important characteristic in perfect competition monopolistic competition oligopoly and monopolies and
Define world allocative efficiency as it relates to regionalism and multilateralism. Discuss the static effects and dynamic effects of customs unions.
The firm faces a constant marginal revenue curve given by:MR = 200 and how should the firm allocate production?-How much should Factory #1 produce and how much should factory #2 produce?
Suppose a potential entrant is considering entering, but the monopolist has a cost advantage in that the MC for the potential entrants is: MCe = ACe = 50. Assume that the monopolist continues to maximize his profits, solve for the residual demand cur..
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