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Felicity is studying economics and political science. She can read 30 pages of political science per hour but only 5 pages of economics per hour. This week she has a 50-page assignment in economics and a 150-page assignment in political science. Because of sorority rush, she cannot devote more than 10 hours to studying these subjects this week. She realizes she cannot complete all of her assignments but is determined to complete at least 30 pages of her economics reading. Draw a graph with pages of economics on the horizontal axis and pages of political science on the vertical axis. On this graph, show the possibilities that are consistent with the constraints that Felicity has imposed on herself. (She isallowed to read ahead in either subject.) Label key points on your graph with their numerical values.
The chapter explains that Social Security benefits are increased each year in proportion to the increase in the CPI, even though most economists believe that the CPI overstates actual inflation.
Banks are reluctant to borrow from the Fed’s discount window because it’s looked down on by other banks. Other banks think that if a bank needs to use the discount window, it’s probably not very healthy. Explain why.
The PPF curve shows the economic choices a country can make about production given scarce resources, a given technology, and a given quantity of inputs. Assume you are a developing country, producing food and clothing at maximum capacity.
As we all know, at current it is illegal for parents who want to adopt a child to pay the birth mother for, or to offer to pay for, the babies they adopt.
Because bagels and cream cheese are often eaten together, they are complements. We observe that both the equilibrium price of cream cheese and the equilibrium quantity of bagels have risen.
The manager of a local monopoly estimates that the elasticity of demand for its product is constant and equal to -3. The firm's marginal cost is constant at $10 per unit. a. Express the firm's marginal revenue as a function of its price. b. Determi..
Suppose US and Russia produce only two goods meat and potatoes in a week's time according to the table below which shows their production possibilities. Meats(lbs) Potatoes (lbs) Who has absolute advantage in each product? Who has comparative..
What other ways are movies distributed? What are the different price points? Using this information, draw a fully labeled graph of the market for movies in which the distributor of the film price discriminates.
Are CDHPs more geared toward the healthier and younger population Are they effective for patients with chronic illnesses Will they discourage the use preventative care and cause increase healthcare costs in the future
a friend of yours is considering two cell phone service providers. provider a charges 120 per month for the service
Illustrate what measures can the Indian government, international organizations, the mulitinationals take to help the industry revive.
Do protectionist policies benefit producers, consumers, workers, or the government? Explain. b) Explain how the "Buy American" theme hurts Americans.
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