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1. Why is the right of private property an essential characteristic of a market system?
2. Rivalry and excludability are the two characteristics of goods that are produced through the competitive market system. Compare and contrast the difference in private and public goods based on these two characteristics. Then, explain the concept of the free-rider problem with public goods.
3. How do economists distinguish between the absolute and relative sizes of the United States public debt? Why is the distinction important?
An increase in consumer incomes will lead to a rightward shift of the demand curve for plasma TVs and the price of automobiles were to increase substantially, the demand curve for gasoline would most likely
Your manager comes in with three sets of proposals for a new production process. Each process employs three inputs: land, labor, and capital.
Suppose that a gambler plays a $1 game 7 times. in each game, his probability of winning is 20 percent. if he wins, he gets $4 prize. he gets nothing if he loses. to profit on the games, he must win at least twice. what is his probability of winning ..
1. a management-consulting firm has estimated the following demand function for your product tractor trailersqy 36 -
the demand for good x is given by the following
Find a descriptive article (1 page or more) which deals with a current exchange rate issue. Briefly summarize the article. Include the article with the summary. [current in this case means 2013).
Suppose that national income is initially at its equilibrium level when desired investment falls.we would except fall in national income,but not by as much as the fall in desired investment
Many retail companies use mark up pricing? Setting price some percentage above variable cost (such as 50% above cost).
What is your expected rate of return over the one-month holding period?
in 2009 the fed initiated a program called qe or quantitative easing to try and stimulate the economy. using a fully
Assume that the Keynesian short run aggregate supply curve is applicable to a country's economy. Construct appropriate diagrams to assist in answering the following questions:
assume that the price of silk ties in a perfectly competitive market is 19 and that the typicalnbspfirm confronts the
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