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Explain how international trade restrictions hurt the American consumer. Provide an example to support your argument.
State the Law of Supply. Why do the supply curve slopes upward? State the Law of Demand. Why do the demand curve slopes downward? Explain why normal profit is an implicit cost (i.e., subtracted from accounting profits) in our definitionof economic tr..
A doctor earns $250,000 per year, while a professor earns $40,000. They play tennis against each other each Saturday morning, each giving up a morning of relaxing, reading the paper, and playing with their children. They could each decide to work ..
If there are diminishing returns to the variable input, will average variable cost necessarily increase with increase in output?
Why is representative money more useful than commodity money. representative money has value because the government says it does or else.
It is often suggested that the Federal Reserve try to achieve zero inflation. If we assume that velocity of money is constant, does this zero-inflation goal require that the rate of money growth equal zero
How do these websites help the company strengthen its relationships with its stakeholders List the website(s) that you previewed and give examples to support your answers. Who are the stakeholders that the company serves
a limited supply of natural gas to consume (assume that no natural gas will be created in the future). Assume the demand for cubic feet of natural gas is given by the equation, P=350-5Q, the extraction of natural gas has a constant marginal cost o..
The price of coffee goes down and consumption of coffee increases. Is coffee an ordinary good. The price of coffee goes up and consumption of coffee increases. Is coffee an ordinary good. The price of coffee goes up and consumption of coffee remai..
Hiring more supervisory personnel can reduce the principal-agent problem and decrease costs. can reduce the principal-agent problem but increase costs. will eliminate the principal-agent problem. is contrary to the profit incentive.
If the price elasticity of demand for gasoline is 0.3, and the current price is $1.20 per gallon, what rise in the price of gasoline (in cents or dollars) will reduce its consumption by 10%? please explain.
We typically focus on firms from well-developed economies entering markets of less developed economies. Do firms from less developed economies have a chance of success if they enter developed markets such as the United States What competitive adva..
One of the partners favors moving downtown because she believes the aditioanl business gained by moving downtown will exceed the higher rent at the downtown location plus the cost of making the move. The other partner at PBS opposes moving downtow..
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