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Evaluate the following statement: "Google holds a dominant position in the search engine market. Even though they are a near monopoly, they should not be regulated by the government because they give their search engine services away for free."
If the value of the marginal product of labor exceeds the wage rate, then a competitive, profit-maximizing firm would want to hire less labor. A competitive, cost-minimizing firm has the production function f (x,y)= x+ 2y and uses positive amounts of..
Why are credit networks indispensable to any civilization? what mean mobile platforms and what kind the service he give to the firm or the customer
What would happen to his attempt to attain a blanaced budget? How would the President tell that his economy is approaching equilibrium or getting better?
Supposes a perfectly competitive, increasing-cost industry is initially in long-run equilibrium and demand suddenly increases. Explain how demand change affects price and quantity and who benefits from increased demand.
What did Karl Marx believe were the positive accomplishments of the bourgeoisie? According to Marx, how had the bourgeoisie and capitalism degraded freedom and human relations? Why did he believe that capitalism is doomed?
Federal excise taxes on gasoline vary widely across the developed world. The United States has the lowest taxes at USD $0.40 per gallon (or L0.07 per litter), Canada has taxes of $0.60 per gallon, Japan and much of Europe is $2.00 per gallon, while B..
What are heuristics? How do they help the brain function? List and describe three common heuristics and how they work. Explain your answers.
what are the characteristics of monopolistic competition. graph the long run profit position for the monoplistically competitive firm. what is excess capacity and how is it manifested in the monoplistically competitive firm's graph.
In a competitive labor market, the equilibrium wage rate and the number of workers employed are determined by labor supply and labor demand. Firms maximize profit where the MRP = MRC and hence hire labor up to this point. What do you think could be t..
To travel around Gotham City, some people take the subway and others ride buses. Still others use the Batmobile. Suppose the PED for subway trips by Gothamites is 1.5, the income elasticity of demand for subway trips is 0.5, and the cross PED for sub..
Suppose there are two kinds of people in society who are equally represented —those with 20% chance of developing diabetes next year, and those with 2% chance of developing diabetes next year. Individuals know their own risks but the insurers cannot ..
A market system (market economy) depends on the market to, find the most efficient way of using resources. determine how large the budget deficit should be. decide how much government regulation there should be.
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