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Consider Bob, he washes his car by hand rather than taking it to the local car wash. When asked why he washes it by hand, Bob explains "you should never pay for something you can do yourself." Evaluate the validity of Bob's statement, especially in terms of absolute andcomparative advantage.
Draw the budget constraint for a world with both fixed time costs and fixed money costs of working. What is the effect of fixed costs on the reservation wage?
a pollutoin control agency is considering the following rgulatory policies: (i) taxing the use of one input that increases pollution. (other inputs affect pollution too, both increasing and decreasing it) (ii) taxing the final goods that firms pro..
Suppose the price that year rose by 8% and the real rate of return in the stock market was 4%. Your friend says she or he was being more than fair giving you more than the rate of inflation as a return, What do you think and Why?
The latest economic news was not very positive. Unemployment rates were higher than expected, consumer confidence had fallen, and companies were reporting layoffs were in order. The Federal Reserve chairman acknowledged the economy was in a recess..
Make a table showing Mankato's marginal cost of newsprint production. Find out the minimum price necessary for Mankato to supply one ton of newsprint?
Suppose that the resident of vegopia spend all of their income on cauliflower,broccoli and carrots. Calculate the price of each vegetable in each year.
Project labor authorization for January 2017 and What is the estimated budget for the recruitment exercise if the estimated cost of recruiting one employee during the period would be k1500.
A profit-maximizing monopolist is currently producing 500 units. Its marginal cost is equal to $10, and its price is equal to $20. The monopolist should a. decrease output and increase price if marginal revenue is equal to $5 b.decrease output and ..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Relatively little pollution is emitted initially in the production process, but as the factory is used more intensively, pollution per unit of output increases and Explain how the introduction of this policy will affect the production decision of f..
What is the underlying message of the following lyrics from Keynes? [Keynes] Public works, digging ditches, war has the same effect. Even a broken window helps the glass man have some wealth.
Industry studies often suggest that firms may have long - run average cost curves that show some output range over which there are economics of scale and wide range of output over which long- run average cost is constant; finally, at very high out..
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