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1) How are scarcity, choice, and opportunity cost related?
2) What are the effects of an increase in the minimum wage in the U.S. economy? Who would be most affected?
3) Why is elasticity of demand greater for goods that are a large share of a consumer's budget?
4) What is the difference between accounting profits and economic profits? Which of the two concepts is more appropriate for explaining decisions made by entrepreneurs? Explain.
5) Differentiate between the short run and the long run? What is the appropriate time dimension of the long run?
Robert Nozick concluded which no state should provide any services beyond law enforcement.Illustrate what is the equivalent certain income to this bet.
As the saying goes, "the only sure things in life are death and taxes." This saying points out the result that everything having to do with taxes is an automatic fiscal policy.
As an active participant on the Physics Stack Exchange I have, on several separate occasions, run into some vague remarks about the 'intimate relation' between the famous Black-Scholes model in economics and the Schrodinger equation that appears in q..
Under which market structure would you classify the airline industry? Given this structure, why is it that there is little price competition between carriers on the same route? Why is there not more price competition? If they do not choose to compete..
A tractor for over-the-road hauling is purchased for $95,000.00. It is expected to be of use to the company for 6 years, after which it will be salvaged for $4,000.00. Calculate the depreciation deduction and the unrecovered investment during each ye..
Suppose that the annual growth in real income in Japan is expected to be between 2 and 3 percent and that income elasticity of demand for housing in Tokyo is estimated to be between 0.8 and 1.0 for rental units and between 0.7 and 1.5 for owner-occup..
Unions tie the hands of management and inhibit efficient decision making. Unions contribute to economic efficiency in that union wage pressure hastens the weeding out of the high-cost, least efficient producers in each industry.
How many people are unemployed according to the Burea of Labor Statistics? What is the unemployment rate according to the BLS?
q.in this problem we consider the differences between the competitive monopoly and cournot equilibria under the same
How do changes affect the equilibrium price and quantity of SUVs if pay increase for workers at car companies. What is the shift in the Supply and Demand Curves and provide a brief explanation of why each change occurs.
A machine, purchased for $45,000, has a depreciable life of 4 years. It will have an expected salvage value of $5,000 at the end of the depreciable life. Using the straight-line method, what is the book value at the end of year 3?
q1. what would be the production possibility frontiers for brazil and the united states? without trade the united
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