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A sorting algorithm is stable if elements with equal keys are left in the same order as they occur in the input. Look at the sorting algorithms presented in this chapter. Discuss stable versus unstable ones.
U.S. Treasury securities are auctioned in competitive bidding under rules that are very similar to a Vickrey auction. What is the advantage to the U.S. Treasury of using this type of auction?
Show the area on the graph that would correspond to consumer's surplus earned by the typical boarder/skier with this payment scheme. Explain your answer briefly.
Suppose there are two monopolists in separate, but otherwise identical markets (i.e. they face identical demand curves). The monopolists have the same variable costs, but Firm 1 has a larger xed cost. Assume that both rms decide to produce a posit..
Explain the most important economic, political or social issue facing the United States.
An economic bad is something you don't want to consume, i.e. less bad is better. Define an economic bad mathematically and name one economic bad in reality. Suppose you had to consume a certain amount of a given economic bad but could pay to get r..
Explain how much will your company's total revenues revenues from both products change if you increase the price of good X by 1 percent.
For automobiles BWC sells chrome wheels for automobiles. At a price of $600 per set, they sold about 900 sets per month. Illustrate what is the arc price elasticity for this product.
Please find an example of an export subsidy, then summarize the country, product, industry (or even the company) to which this subsidy applies. Do you agree or disagree with the subsidy?
Some politicians have proposed changing the way social security benefits are taxed. One proposal would increase the amount of Social Security benefits included in gross income to 100 percent
Consider the following two good pure exchange economy: Alfred's utility function is U A (x, y) = min{x, y} and Bob's utility function is U B (x, y) = max{x, y}.
Illustrate what happens to the natural rate of unemployment and potential GDP if cyclical unemployment.
What is money and what functions does it perform?- How is the supply of money measured?- Who influences how much liquidity is created or reduced in the U.S. economy?
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