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Forty years ago, students used typewriters to prepare papers for their classes; today they use computers. Does that make computers and typewriters complements or substitutes? Use a supply-and-demand diagram to show what happened to price, quantity, consumer surplus, and producer surplus in the market for typewriters. Should typewriter producers have been happy or sad about the technological advance in computers?
If you have a private-ownership right to something, what does this mean? Does private ownership give you the right to do anything you want with the things that you own? Explain. How does private ownership influence the incentive of individuals to
Some economists argue that a monopoly’s high market power enhances research and development. However, a good argument against that could be:
Consider that there is now a website that helps professors check for plagiarism by comparing student papers with millions of online pages using the top 20 search engines. The system even identifies papers composed of bits and pieces of online text.
If the economy is experiencing inflation, then the most appropriate government policy would be to:
describe both quotas and tariffs. how do they impact domestic prices and deadweight loss? how does an import quota
The enforceability of the promise of the $50 bonus and Farkas rights concerning his employment termination.
The price at point a is $70 and the price at point c is $10 per bag. The price at point d is $49 and the price at point e is $24 per bag. The price at point f is $48 and the price at point g is $13 per bag.
in the middle of the decade , the party was over, and coffee wholesale prices started increasing because of some shortages caused by weather and the rising overall market prices again. Where is the new equilibrium price
Discuss the types of situations where you would expect to see non-constant variance in the data. Provide examples to support your response.describe a specific instance where heteroscedasticity would be a problem and the remedial measures that could b..
How does economics tie into business ethics? Explain your answer and provide examples. How does the global marketplace affect business ethics? Support your ideas with outside research. Review the concepts from the "Important Terms for Review," locate..
Discuss the objectives with your team. Include the topics you feel comfortable with, any topics you struggled with, and how the topics relate to your field.
Presume that a country has no public debt in year 1 however experiences a budget deficit of $30 billion in year 2, a budget deficit of $30 billion in year 3, a budget surplus of $10 billion in year 4, and a budget deficit of $2 billion in year 5. Wha..
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