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1. Why are many consumers apt to be rationally ignorant about their options?
2. Why would insurance coverage tend to increase rational ignorance?
3. Why are so many economists opposed to licensure of medical facilities and personnel?
What are the major determinants of the elasticity of demand? When would you want to own a business that sells price-elastic products? Why?
Should the firm increase capital and decrease labor or the other way around? When should the firm stop replacing one input for the other? Explain.
What is the amount A in actual dollars equivalent to A’ = $1,000 in constant dollars? Please provide step by step detail
Discuss these three time horizons in terms of the price elasticity of supply. Sketch a figure showing supply curves for each of the time horizons.
Identify which economic also political policies affect your firm also Explicate Explain how they impact business decisions.
Describe an industry that would meet conditions of a perfectly competitive industry and how individual firms would respond to an increasing market demand for product.
How do the buyer's returns compare with the method of payment, and how do they compare with single versus multiple bidders.
Some people claim that the "economic way of thinking" does not apply to issues such as health care. Elucidate how economics does apply to this issue by developing a "model" of an individual's choice.
If the returns of the risky portfolio are normally distributed, what is the probability of returns being less than 29%.
Susie's boss offers her $100 to come to work instead. In considering what to do, which of the above would be considered a sunk cost.
A Fenway park, home of the Boston Red Sox, seating is limited to 39.000. Hence, the number of tickets issued is fixed at that figure. Seeing a golden opportunity to raise revenue.
Think about our economy. Irrespective of economic conditions, we consume many goods and services in various quantities. There is a constant allocation and re-allocation of resources. How does this happen? What economic mechanism helps allocate resour..
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