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If physicians can gain large per capita wealth effects from state regulation and consumers can gain relatively small per capita wealth effects from state regulation, which of the two groups does the economic theory of regulation suggest will control the legislative process that enacts regulatory procedures?
Most commercial fish species in nearly every ocean and sea are being rapidly depleted in what marine biologists and other specialists warn is evolving into one of the worst ecological disasters of modern times. According to the United Nations, the wo..
According to the Bureau of Labor Statistics, the distribution of consumer expenditures. If the negative income tax rate is set at 50 percent and the income floor is set at $5,000, a family that earns $3,000 would have a total income (including the in..
What is the law of comparative advantage? How do you use it to support free trade in the world? What international institutions were created and how have they worked to liberalize international trade?
You are the manager of a hamburger joint with a marginal cost of $6.00 per hamburger. The hamburger joint is a local monopoly near campus. During the day, only students eat at the joint while in the evening only the faculty members eat there. If stud..
Briefly discuss the differences between the Ricardian Theory, Specific Factors Model and Heckscher-Ohlin Theory of Trade.
Someone consumes only coke and pretzles and always consumes 4 pretzels with each cup of coke. 1) What is the cross price elasticity of demand with respect to a change in the price of pretzels? Simplify to a function of price of coke and pretzels 2) W..
Suppose this year Angola borrows $100 million from foreign countries while it lends $15 million. Angola definitely is a net borrower. net lender.
Handy Manufacturing Industry Trade Association recently published the following estimates of Demand and Supply relations for hammers. Calculate the perfectly competitive industry equilibrium price/output combination.
You are going to make payments of $100 each year for the next 15 years. For the first five years (1-5) the interest rate is 8% yearly. For years 6-10 the rate is 8% compounded quarterly. For years 11 – 15 the interest is 8% compounded monthly. What i..
you should note whether the scenario indicates a shift of the curve or movement along the curve. you are a supplier of widgets. What technology available to produce your product suddenly improves.
q1. according to a study of u.s. cigarette sales between 1955 and 1985 when the price of cigarettes was 1 higher
"Child Labor should universally outlaw" Are you in favour of or against this statement? Explain three different arguments with data in support of your choice.
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