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Create an informal hand-written spreadsheet of your own household economy. Identify all the factors of production that your household owns, and count all the person-hours available and any capital.
Discuss how these resources are allocated and by what methods, such as market price, command, majority rule, sharing equally, and first-come- first serve. Also, discuss whether your household's resources are allocated efficiently.
Are they allocated fairly? Think about the two ideas of fairness and how they apply in your household.
calculating the rate of return of investment using financial leverage. suppose shaan invested just 10000 of his own
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consider an entrepreneur you know could be a relative friend or acquaintance. answer the following questionswhat
consider monopolists product the cost function is and demand function is plot cost function versus for a range of 0 to
Recently, the owner of a Trader Joe’s franchise decided to change how she compensated her top manager. Last year, she paid him a fixed salary of $60,000 and her store made $125,000 in profits (not counting payment to her top manager). She suspected t..
suppose the initial conditions of the economy are characterized by the following equations. in this problem we assume
in the textbook there are two circular flow diagrams one that represents the flows in the macro-economy as a closed
Local performers are gradually loosing in the competition with recognized international bands, and Serida’s income decreases to $50 while prices are the same as before. What is the equation of this new budget line? How does it compare to the budget l..
Through the energy crisis of the 1970s, and again in the last five years, Congress bemoaned the “price gouging” and “windfall” profits of the major oil companies. In the 1970s Congress imposed an “excess profits tax” on these companies. It did not do..
governments have several means available to guide and influence competition in the marketplace. these means include
the policies of the federal government influence the outcomes of the various activities in that economy. when
Presume the official unemployment rate is 10 percent. We can conclude without question that The same 10 percent of the people in the economy were out of work for the entire year
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