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Explain how the religious revivals of the Second Great Awakening popularized the outlook known as perfectionism, which held that both individuals and society at large were capable of indefinite improvement. How did this idea of perfectionism relate to the various reform movements that arose in the antebellum period?
Suppose the MWTP in periods 1 (now) and 2 (one year from now) is given by P = 8-0.4q. Marginal extraction cost = $2. r = 20%. The available supply is 20 units. Calculate the allocation of outputs across the two periods that maximizes the present valu..
If George assumes the used radiator will last 3 years, but will need to be replaced so he can sell the car, which should he buy? Develop a choice table for interest rates from 0% to 50%. George's interest rate on his credit card is 20%.
q.tax cut under fixed as well as flexible exchange rates1 what is the impact of a tax cut in an economy operating under
What is the relationship between a firm's total revenue, profit, and total cost and define economies of scale and explain why they might arise. Define diseconomies of scale and explain why they might arise.
Louie produced 300 fire trucks. What action leads to both gains in revenue and loses in revenue for Louie.
A firm encountering economies of scale over some range of output will have a falling long-run average cost curve. How can diseconomies of scale occur at firms with larger capacities?
Suppose that the US dollar interest rate and the Swiss Franc interest rate are the same, 5 percent per year, but that there is a risk premium of 1 percent associated with holding Swiss Franc rather than US dollars over the year. (b) If the expected f..
For each of the following events, use the subsequent graph to illustrate the short-run effect on aggregate supply and aggregate demand. Households decide to save a larger share of their income.
______Companies that have flat organizations tend also to have
In 2004, the number of unemployed people decreased from 8.8 million to 8.1 million, while the labor force increased from 146.5 million to 147.4 million. By how much did the unemployment rate decrease?
Define economies of scale. Are economies of scale evident in the airline industry? What is the implication for market entry? Airline passengers are broadly segmented by purpose of travel. Characterize the two major segments by price elasticity of dem..
Suppose an industry facing an inverse demand equation equal to P = 120-4Q faces a new pollution control law that shifts its constant marginal cost of production from C1 = 50 to C2 = 68. Compute the social costs of regulation in this industry.
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