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1. Discuss the pros and cons of monopoly structures.
2. Cite the forces that influence the supply of labor
3. Explain why the labor demand curve slopes down word
As a policy maker concerned with correcting the effects of gases and particulates emitted by and local power plant, illustrate what two policies could you use to reduce the total amount of emissions.
ellen and may can produce two goods in a day breakfast bars and frog food pellets. in a single day may can make 10
To better identify increasing price of textbooks, dean asks you, economics Department's star student, to create an index of textbook price. Average student purchase three English, two math and four economics textbook. Prices of these books are giv..
What would you expect to be the effect on interest rates if the Fed held the money supply constant.
Occupational licensing can accomplish which of the following?
Efficiency of labor (h), a measure of human capital, increases with education. With greater efficiency, earning opportunity increases. Suppose a person with high school degree starts a job at MacDonald for $16,640 annual salary. If she has to earn an..
Suppose both product and factor markets are competitive, why is the labour demand curve downward sloping? How does technological progress shift the labour demand curve? Professors, lawyers and doctors receive similar amounts of education, why are pro..
The ledger of Hixson Company at the end of the current year shows Accounts Receivable $120,000, Sales $840,000, and Sales Returns and Allowances $30,000.
In which instance will total revenue decline?
Assume that the inflation rates in 2010, 2011, and 2012 were 1%, 2%, and 3% respectively. During the same periods, nominal interest rates were 5%, 5%, and 6%, respectively. What are the ex-post real interest rates in 2010, 2011, and 2012?
Now suppose one big firm comes and buys out all of the firms in the cartel. This monopoly somehow miraculously is able to perfectly price discriminate. How much will this firm produce? What will be the deadweight loss created by this monopoly?
How do the “rules of the game” help determine who will be poor and who will not? (Hint: How did the Civil Rights Act of 1964, which forbade discrimination on the basis of race, likely affect the incomes of African Americans compared to the incomes of..
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