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1. What would happen to the size of the cattle population if Americans decided to eat substantially less beef? Explain the logic underlying your answer.
2. Does private ownership entitle the owners to do anything they want with their property? Why or why not?
3. Do private owners have an incentive to conserve resources for the future?
4. Do businesses operating in a competitive market have an incentive to keep costs low and produce goods that consumers value highly relative to cost? Do they have an incentive to innovate and develop improved products? Explain.
q. gains from trade will result if a country specializes ina. the goods in which it have a comparative advantage.b. all
Whose interests should be the paramount concern of government trade policy - the interests of producers (businesses and their employees) or those of consumers? Given the arguments relating to the new trade theory and strategic trade policy, what kind..
You are paying $30,000/yr for your four year college degree. You could be earning $20,000/yr if you worked instead. After graduation you will earn an immediate $30,000 signing bonus and $40,000/yr for 6 years and then you retire. Is your education a ..
How much Medicare Tax did she pay? What is her marginal tax rateon her federal personal income tax? Details are related to the U.S.
If the government imposes a tax on a competitive market with no externalities, then
Describe the distinguishing features of the Canadian governance model. Contrast with the governance model of China.
Will it shift to the right or left? Where will the equilibrium be on the LRAS now? What is the correct answer here and why?
Elucidate what impact will this change have on the price level, output, and employment in the short run in the United States.
The initial cost of constructing a flood control dam is estimated to be $5 million, with annual upkeep costs of $499,526. Annual benefits (e.g., reduced flood damage, agricultural development, and tourism, etc.) are expected to be $1.25 million, wher..
Draw an Edgeworth box with indifference curves through this endowment. At what combinations of X and Y are both better off (i.e., are Pareto Improving)? At what combinations of X and Y are there no more gains from trade (i.e., are Pareto Efficient)?
q.in a competitive market there are two groups of firms. in group a for each firm the long-run atc curve is u-shaped
Farmer Brown has 2 distinct farms that he works on. His wheat farm has a production function Y=6.7K0.4L0.6, and his soybean farm has a production function Y=0.2K0.5L0.5. Farmer Brown has the option of buying either more labor or more capital for each..
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