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government action is based on majority rule, whereas market action is based on mutual consent. The market allows for proportional representation of minorities, but minorities must yield to the views of the majority when activities are undertaken through government. In your own words, explain the meaning of this statement.
If we assume that wage differences are caused solely by differences in productivity, how many times more productive was the average worker than a worker being paid the Federal minimum wage?
In Costa Rica, only a few beaches remain that are nesting grounds for sea turtles. Some of those beaches have communities situated near them; traditionally, the local people collected the turtle eggs and sold them for their purported aphrodisiac p..
A company has a EBIT to be $100,000 every year forever. The company can borrow at 5%, has no debt and cost of equity of 15%. If the tax rate is 25 %, find out the value of the firm?
The demand for personal computers can be characterized by following point elasticity = -5, cross-price elasticity with software = -4, and income elasticity = 2.5. Indicate whether each of following statements is true or false, and describe your an..
Health plan guaranteeing that all qualified participants can purchase MRI tests at an effective price to the individual of $100 per test. How many MRI tests are now demanded? Is the result in the market a surplus or shortage?
According to the computer industry what are positive and negative effects of either a sudden increase or decrease in the number of competitors on prices in long run.
The major changes that have forced differences are changes in the place of women in society as more equal in terms of jobs and working, more out of wedlock births creating more single families, less stigma by society on men who do not participate ..
Assume that the medical screening industry is perfectly competitive. Consider a typical firm that is making short-run losses. Suppose the medical screening industry runs an effective advertising campaign which convinces a large number of people th..
In the money market, money supply is determined by the central bank, such as the Fed in the U.S. Because of this, money supply curve is usually vertical in the short run, while the money demand curve is downward sloping. The quantity demanded of m..
Why might a parent company like McDonalds or Hilton choose to franchise its local outlets rather than own them and staff them with employees?
Determine how velocity is affected by an increase in real income (Y), an increase in the nominal interest rate, and an increase in the price level.
Explain what he has done wrong on each graph and what assumption of preferences is violated by each particular graph.
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