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In a world of perfect information, if consumers could costlessly contract with private contractors to produce a good and there were no economies of scale,
a) firms would be unnecessary.
b) markets would be unnecessary.
c) consumers would be unnecessary.
d) consumers would face greater production costs.
Many people believe that we never will create eternal life here on earth, but there are many more people who believe that taxation can be eliminated. Are you one of those people? Discuss some ideas of possibly financing the government without taxatio..
In a short paper, first explain the theory of 3 rd degree price discrimination as it applies to the airline industry including a graphical model. Explain how and why airlines would choose to practice price discrimination.
A lump-sum tax causes the after-tax consumption schedule to be flatter than the before-tax consumption schedule
There are two possible states of the world next year. If you keep your job, your income is equal to your labor market earnings E plus your non-labor income Y. Consider a graph with “keep job payoff” on the horizontal axis, and “lose job payoff” on th..
Republican presidential candidate Donald Trump is a multi-billionaire who claims that, if elected, he would run the country like a business firm. Using the economics of the firm, explain why this may not be so
How is the US Economy like a small, open economy? How is it like a closed economy? What is the relation of the domestic interest rate to interest rates in the rest of the world?
In September 1995, Patrick Buchanan, a Republican candidate for U.S. president, proposed a 10 percent tariff on Japanese imports to the United States, a 20 percent tariff on Chinese imports to the United States, and an unspecified “social” tariff on ..
Which of the following is not part of the index of leading economic indicators?
Explain two examples of a public and private goods that you have consumed? Why do you think the government has to supply public goods?
Describe "how" producer surplus is measured? What happens to producer surplus when the price of a good rises - all other things equal.
A company expects to achieve cost savings of $4,500 the first year and amounts increasing by $800 each year for the next 5 years. At an interest rate of 10% per year, what is the total present worth of the savings?
If asked to find a supply function for a firm in the long run, the easy for doing it is to compare AC to MC. In some cases though, that does not give the correct answer, and the profit function must be used. Can you advise in what cases this is true?..
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