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Describe several ways that governments can foster entrepreneurship and encourage the creation of wealth.
Consider a profit-maximizing monopoly pricing under the following conditions. The profit-maximizing quantity is 40 units, the profit-maximizing price is $160, and the marginal cost of the 40th unit is $120.
The demand for a product is Qd=100-4P-3Px and supply is Qs=10+2P, where Q is the quantity of the product, in thousands of units, P is the price of the product, and Px is the price of another good. When Px = $20, what is the equilibrium price and quan..
Suppose the average household in a state consumes 800 gallons of gasoline per year. A .20 tax is introduced coupled with a $160 annual tax rebate per household. Will the household be better or worse off?
Consider the country you have been assigned. How is unemployment there different from unemployment here? How does this affect the measurement of unemployment? What are the differences between there and the US in the prevalence of the underground econ..
XYZ Computers company has a monopoly on the sale of a specialized color printer. If it sells two of these printers its total revenue is R1,000, and if it sells three color printers its total revenue is R1600. The marginal revenue of the third colo..
Considering a machine which will have an estimated service life of 10 years with a salvage value of 10% of the investment cost. Its expected saving from annual operating and maintenance costs are estimated to be $60,000.To expect a 15% rate of return..
The transmission mechanism of monetary policy indicates that a rise in interest rates is expected to:
Explain the purpose of an agreement template and why a written agreement best serves to generate commitment to the agreement. Discuss why silence can be an effective response to a request for a last-minute concession and when the nickel-and-diming ap..
The Competitive Fringe: Consider a market with one large firm and many small firms. The supply curve of the small firms taken together is S(p) = 100 + p. The market demand curve for the product is D(p) = 200 − p. The cost function for the large firm ..
Elucidate what would be the P and Q in a competitive industry. Find CS and PS for a competitive industry and a monopoly. compare them.
It is observed that in an area with a lot of illegal immigration, the average wage of native born workers actually increased. Explain how this could have happened, using economic logic. Also, judge whether this is good or bad for the local economy.
What are the similarities and differences between the major political, economic, and social developments in the first half of the twentieth century and those in the second half of the century?
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