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Your son is graduating from high school and is about to enter the work force. He has developed a strong curiosity about our economic system and how it works. Because you have a good understanding of basic economics, he has asked you to explain several concepts that are essential to an understanding of how the economy works. Your son has asked you to explain the following concepts and ideas:
1. began in France with the development of the steam engine and then spread to the UK and the United States. 2. began in 1550 when the English learned how to use coal to replace wood as a heat source and spread to france and eventually the United S..
A proposal has been made to replace a large heat exchanger (3 years ago, the initial cost was $85,000) with a new, more efficient unit at a cost of $120,000. The existing heat exchanger is being depreciated by the MACRS method.
Explain carefully why it makes better sense to shut down rather than continue to operate or to continue to operate rather than shut down, as the case may be. How do fixed costs play a role in your analysis?
Choose one major economist and/or major economic theory found in history from the 17th Century through the 21st Century. Write an 800 - 900 word formal research paper articulating.
Given the demand and cost estimates, what price should you change if you want to maximize your weekly profit?What output should you produce? What is your weekly profit?
Capital goods costs φ units of the consumption good
Which of the following is not an effect of hyperinflation? The view that union wage demands may be a source of inflation would be best associated with the , The metropolitan with the lowest unemployment rate is, Which of the following groups has hist..
Imagine there's only one movie theatre near a school campus. Local demand for movies is given by: What is the profit function? What is the theatre's maximizing q* and p*?
Show how to generate a supply and demand function from a information table that includes the supply and demand information for two different price levels.
Explain what the new equilibrium point means in terms of GDP and the price level. Based on your understanding of the current health of the economy, was this program successful? Why do you say this?
There is some evidence that people have become more sensitive to air pollution. In other words, people are willing to pay more for clean air. If this is true, what influence will it have on the location decision of firms?
from criteria that influence the rate of adoption in what area do apple product excel and what area does apple product
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