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According to some translations, Nobel laureate Albert Einstein once said, " God does not play dice with the universe." Does this mean that a profit-maximizing firm would never use something like dice or a roulette wheel to help shape its pricing decisions?Explain.
Why is an increase in the number of varieties of a good regarded as a gain from trade? Can you think of economic disadvantages associated with greater product variety? Explain. Is the distinction between "intra-industry trade" and "inter industry t..
Answer the following questions as these general questions pertain to the specific issue selected.The questions that you will cover with respect to your choice of broad social issue in the paper are given.
What is the crowding out effect A reduction in private spending as a result of higher interest rates generated by budget deficits that are financed by borrowing in the private loanable funds market.
Say your parents give you a car for your birthday. It is not the new model you wanted, but it's in very good condition.The cost of keeping the car to you is.
If the industry is regulated and the regulatory authority forces Widget Corp. to earn only a normal return on investment (which is included in its cost function), what is the resulting equilibrium price and quantity. What happens to consumer surpl..
What are the prospects for profitable investments infinancial markets? Do markets follow a random walk so that profitsare mostly a matter of chance? Is it possible to outguess themarket? What are the best investment strategies?
A firm has offices in London and New York. Fractional units of labor can be employed in each location (as part-timers can be hired) and the headquarters could be in either city.
Explain the most important characteristic in perfect competition, monopolistic competition, oligopoly, and monopolies and relate the characteristic to how these firms can make profits in the short run.
Elucidate your answers in terms of the market for lawyers fully explaining what changes will occur to demand, supply, quantity demanded, quantity supplied, and equilibrium price for lawyers
Identify each of the following events as: (use a, b, or c to answer the question) a) part of an expansionary fiscal policy b) part of a contractionary fiscal policy c) or not part of fiscal policy i. The corporate income tax rate is increased.
Name them six problems that complicate fiscal policy for policymakers. Please include examples and explanations.
Find out the optimal weekly output and price of this firm. Find out the weekly profit from the production and sale of this product.
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