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How does the standard economic view of rationality relate to the concept of bounded rationality? Which seems more realistic? What does your answer imply about economic models?
Using concepts used just in Microeconomics(and ignoring any that you might think relevant from Macroeconomics), what does economics have to say about global warming. Is the lesser role for he market and of competition in China.
Demand for airline tickets fluctuates throughout the year, which affects the price of an airline ticket. Suggest the type of game that may be most appropriate for a specific airline to play to address the differences in demand and elasticity and t..
You've been appointed by an unprofitable firm to determine whether it should shut down its unprofitable operation.The firm currently employs 70 workers to produce 300 units of output per day.
Assume that a profit maximizing monopolist faces an inverse demand function give by p(.), where p'(y),0, and a total cost function given by c(y), where c'(y)>0. Suppose the government wishes to combat the undesirable allocational effects of a mono..
Explain the difference between nominal and real GDP, andprovide a numerical example with your own numbers of how nominalGDP can be converted to real GDP.
Sometimes market activities (production, buying, and selling) have unintended positive or negative effects outside the market's scope. These are called externalities. As a policy maker concerned with correcting the effects of gases
1. Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. In a paragraph, what are the efficiency and equity effects of introducing a voucher system likely to differ across these ..
To conduct an effective database search a. choose one search engine and stick with it. b. enter variations of your search terms to increase the likelihood of obtaining desirable "hits." c. use long search phrases rather than short ones or single term..
Oligopoly, Monopolistic Competition,and the Factors of Production - Cooperation between the two prisoners in the prisoners' dilemmagame is difficult to maintain
How would government react to sudden, large changes in the price of a key commodity, such as gasoline, electricity, or prices on stocks on the New York Stock Exchange?
For this week, we are continuing our discussion on GDP and economic growth. We will realize that most of government spending goes towards welfare such as social security. However, it is a common belief that social security benefits
Management attributes the increase in revenues to a 137 percent increase in shipments, despite a 17 percent drop in the average blended selling price of its line of phones. Given this information, is it surprising that the company's revenue increa..
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