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Economic history since the industrial revolution [in the United States] strongly suggests that technical learning, not the process of perfect competition, drives growth over time” explain why perfect competition is not conducive to innovation, i.e., why the Schumpeterian Hypothesis holds.
You are the manager of a hamburger joint with a marginal cost of $6.00 per hamburger. The hamburger joint is a local monopoly near campus. During the day, only students eat at the joint while in the evening only the faculty members eat there. If stud..
Subjective definition of probability is:Select one:A. a weighted average of different peoples' degrees of certainty of an event's occurringB. a theoretical probability distributionC. a person's degree of certainty of an event's occurringD. an expecte..
You want to study the effect of education on earnings (yit = earnings). You have panel data on annual earnings for many workers. You think earnings will depend on age, education, and union status and you run that regression.
Consider a closed economy which can be characterized by the following equations: C = 400 + 0.8YD I = 600 + 0.1y- 1000r G = 300 T = 125 (M/P)d = 0.2Y-6000r (M/P)= 400 c. Determine the equilibrium values for real GDP (Y), the real interest rate (r), pr..
illustrate what prevented the villagers from reaching this higher-income allocation of resurces when they acted independently
Illustrate what monthly profit would she realize with that level of business during the next 3 years.
When the price of gasoline goes up demand for the Toyota Prius. Is this a violation of the principles of demand since gasoline is a complement to the Prius? Explain.
Describe three types of physician remuneration schemes and comment on physician incentives under each scheme. For each scheme, summarize the evidence regarding physician behaviour.
Which of the following hedging strategies involves a loan without a futures contract.
Data collected in the imaginary economy of kharkeez reveals that when the price of drof decreased by 25%, the quantity of drof sold increased by 10%, and the quantity of perf demanded decreased by 30% What is the cross-price elasticity of demand bet..
If the price elasticity of demand in the United States for American-made luxury cars is 1.9, what is the impact on revenue if the price increases by 10%?
If you were the angel investor, what is your certainty equivalent for these two projects? Are you risk-averse, risk-neutral, or risk-lover?
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