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Economists often stress that congestion helps account for the law of the diminishing returns.With this in mind, list and explain related increasing costs caused by traffic jam in Ho Chi Minh City, Vietnam
Ulrick and Birger started an air taxi service in Berlin, Germany, under the name Berlinair, Inc. Biger was approached by a group of travel agents who were interested in hiring an air charter business to take German tourists on vacation. Birger for..
Are unions good or bad for the economy How do unions at GM and Ford affect employment levels and wages How do unions affect other industries in terms of employment and wage levels
If nothing else changes, what happens to the price and quantity if the supply curve shifts to the right? What is the law of supply? Give two examples of how you have observed the law of supply at work.
Your consulting company has been hired by an airline to analyze data on passenger and luggage weights. The data refer to a 200 seat aircraft that is always full. You are given data that show that as a good approximation passenger weights W ~ N (15..
Describe supply and demand as it relates to airport market structure(oligopoly). Describe customers options - given the customers are price sensitive
when a variable grows at constant rate, then the graph of the ln of the variable is a linear function of time, with slope that is approximately equal to the growth rate of the original variable (when that growth rate is small). Usin..
Assuming that overall taxes are cut by 10 percent across the board. What's likely to happen to equilibrium output and prices How will the tax cut affect government revenues in the new equilibrium
HoneyBee Farms, a medium size manufacturer of honey, operates in market that fits competitive market definition relatively well.
Calculate the number of physicians, per thousand population in Canada, from 2002 to 2005. What conclusions can be drawn about the physician coverage of Canada's opulation?
Suppose the price of labor increases to $2 per unit. What effect will this have on output per unit of labor and is this plant subject to decreasing returns to scale? Why or why not?
A lawyer who drives a beat-up car and wears frumpy dresses may have a hard time getting customers. Potential clients may conclude from his appearance that he is poor, and if he is poor, he probably is not very good.
The U.S. imposes a quota of 45 million units per month on this good and what will be the price U.S. consumers will pay for the good now?
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