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Give an example of a good or service that is “intangible” (not a physical commodity) and is NOT shareable. Explain briefly why it cannot be shared. Give an example of a good or service that is shared in the production of the good or service that you gave as your example. Explain the sharing in the production process. What or who shares what?
A brief description of the historical context in which the Washington agreement arose. The aim of the Washington agreement with regard to government intervention in the economy.
The efficient Market hypothesis
Assume that your household gets a machine that cost Lesley provides you with food. Illustrate what would that do to your labor supply.
Provide an explanation for your choice of business entity (advantages or disadvantages of the selected type of business entity). Description of the specific steps that need to be followed to successfully and legally start the business.
If accounting profits for firms are 20% of output, and the opportunity of cost of financial capital 8% of output, then what do the firm’s economic profits equal?
What does the difference in the CCCs tell us about the riskiness of the two firms? Why is that the case? If the expected industry return is 8%, will both firms stay in the industry? Calculate the cost of equity for the two firms?
Suppose the amount of exports of textile machinery from Italy to the rest of the world equals 60 billion tons. The amount of imports of textile machinery into Italy from the rest of the world is 40 billion tons. Therefore, the intra industry trade sh..
How much profit does the monopolist earn? How much consumer surplus is left? (if any) Calculate the social welfare loss.
An increase in the market price of men's haircuts, from $15per haircut to $25 per haircut, initially causes a local barbershop to have its employees work over time to increase the number of daily haircuts provided from 35 to 45. What is the short-run..
A drought in Alberta and Saskatchewan has made grain, and therefore cattle feed, quite expensive. Many ranchers cannot afford to feed their cattle, and have sold much of their herd for slaughter. As it happens, the slaughter of beef cattle has coinci..
Suppose Richard has an after- tax income of $500 per week and must spend it all on food or clothing. If food is $5 per pound and clothing is $10 per piece, draw his budget line, where the amount of food is measured along the vertical axis and the amo..
Having access to the books and understanding local markets better than new owners, the owners of medical practices generally understand their finances better than prospective buyers do. What sorts of transactions tend not to take place? What can buye..
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