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Smith, Ricardo, Malthus, and Marx had strikingly different views of the long-run tendencies of the capitalist system. Carefully discuss the vision of the future development of capitalism associated with each writer. Explain the theoretical differences among these economists that led to these different views of the future. Include in your discussion the policies that each of the writers regarded as the most appropriate for either developing or destroying the capitalist system.?
What are the key contributions of small business to the U.S. economy? Rank the benefits in terms of importance, and provide the reasons for your ranking.
What is allocative efficiency using the benchmark model?
Suppose that the parents of a young child decide to make annual deposits into a savings account, with the first deposit being made on the child’s 5th birthday and the last deposit being made on the 15th birthday. Then, starting on the child’s 18th bi..
U(X,Y)=X.6Y .4 , MUX=.6X -.4Y .4 MUY=.4X .6Y -.6 PX=3 PY=4 I=60 (a) Calculate the MRSX,Y. (b) Write the budget constraint. (c) What is the consumption bundle to maximize the utility level? What is the maximum utility level?
A project’s annual (operating) cash flows for the next five years are $1.2 million, $1.4 million, $1.7 million, $2 million, and $2.5 million. Assuming a discount rate of 15% and a terminal growth rate of 4%, answer the following questions. a. What is..
Consider a person with preferences over two goods, coffee and cigarettes. Both of these goods are addictive, in other words the more coffee you drink, the more willing you are to give up other goods in exchange for coffee and the more cigarettes you ..
A monopoly market is characterized by the inverse demand curve P = 1,200 40Q and a constant marginal cost of $200. If the marginal cost of production rises to $400, what happens to the profit-maximizing price and output level?
Calculate the level of production for which the two methods have the same total costs. Compare the profits of the two manufacturers for production and sales of 200,000 units. Calculate the level of production and sales for which the two methods produ..
On April 1, 2015, a company loans one of its suppliers $53,000 and accepts a 30-month, 12% note receivable. Calculate the amount of interest revenue the company will recognize in 2015, 2016, and 2017.
If she has to eat only whole servings, what will she have for breakfast, and how many calories will she consume? If she can eat partial servings, how would your answer differ?
What single sum of money at t=4 is equivalent to receiving $5,000 at t=1, $6,000 at t=2, $7,000 at t=3, and $8,000 at t=4 is money is compounded at a rate of 8% per time period?
What is the marginal revenue of a firm that sells a product at the price of $15 and the price elasticity of demand for the product is -2? What is the price elasticity of demand of a firm that sells a product for $20 and marginal revenue is $12? Use t..
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