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Mal Reynolds borrows $320,000 from the Independents Free Bank to buy a used spaceship. The bank charges an interest rate of 12%. Ten years later, the Bank demands repayment in full, including all accumulated interest. There were no payments along the way. How much does Mal owe?
A company with 100 employees decides to offer its employees medical insurance administered by a major health company, but funded totally by the employer—i.e., it self-insurance. The CEO is furious with his HR director who told him that, given their h..
Business its legal, ethical, and global environment 10th edition chapter 6 QP 2, page.204 what process must the CPSC follow to promulgate the rules? What do you think of the consumer group head's statement? Will that statement alone justify the rulem..
An increase in the demand for autoworkers may come about because of all of the following EXCEPT a(n):
Which of the following is NOT a characteristic of a perfectly competitive market? Recall the Application called "Wireless Women in Pakistan." What makes the wireless telephone market in the US NOT perfectly competitive? Recall the Application called ..
Explain how increasing returns to scale in production can be a basis for trade. If the foreign export supply is perfectly elastic, what is the optimal tariff that Home should apply to increase welfare? Explain. If the foreign export supply is less th..
In 2004, Congressman Dennis Kucinich proposed the Free Market Drug Act. This legislation would have removed patent protection on drugs developed with public funds and given control over pharmaceutical R&D to the National Institutes of Health (NIH). E..
The manufacturer of a small utility trailer is interested in comparing the amount of fuel used in towing the trailer with that required to overcome the weight and wind resistance of a rooftop carrier. Under similar conditions, 10 trips with the rooft..
Draw and explain a production possibilities frontier for an economy that produces cars and computers. What happens to this frontier if a new technology was created which reduced the production cost of steel by 75%?
We suggested above that an annually increasing renewal fee would be an efficient means of setting optimal patent life. Similarly, suppose that owners who wanted to restrict future use of their property had to pay a fee for each year that the restrict..
The variable frequency drive (VFD) for a 290 hp motor costs $19100. How much will the drive for a 115 hp motor cost if the cost-capacity exponent is 0.642?
US national health expenditure was $7,026 per person in 2006 and $4,790 in 2000. The Consumer Price Index had a value of 201.6 in 2006 and a value of 172.2 in 2000. Adjusted for inflation, how much was spending in 2000? Why has the share of healthcar..
Suppose Bob owns a pizza place in a competitive market. If an additional worker will cost Bob $200 and offers marginal productivity of 40 pizzas, what is the marginal cost of producing a pizza? Show your work and explain your reasoning.
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