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Which lawyer would you sooner choose if you were on trial for a serious crime in a urban vs. a rural society. Is there a difference between the two communities? If there is tell us why there might be a difference.
Identify a company in your local area that you would classify as a monopoly. Explain why you classified the company as a monopoly, and state how the company relates to at least two characteristics of that particular market.
Suppose a consumer's preferences can be described. Derive the customer's marginal rate of substitution at the point.
Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium price?
q1. suppose there is a sudden change in the preferences for chocolates. however the price of production rises due to a
she estimates that she can produce and sell an extra 1,400 hamburgers per day by keeping the restaurant open for three more hours per day at a cost of $50 per hour. Which of these two alternative ways of increasing output should sh..
Illustrate why might Fourth of July fireworks be considered a public good. who should pay for them. what about airport security.
In a small open economy with a flexible exchange rate, an expansionary fiscal policy will cause which of the following to happen?
In The Wealth of Nations, Adam Smith wrote, "Every individual endeavors to employ his capital so that its produce may be of greatest value. He generally neither intends to promote the public interest, nor knows how much he is promoting it.
Elucidate reason for both wage and cost rigidities including policy implications for se rigidities. Would you conclude on se reasons suggested by New Keynesian economists as relevant to unemployment situation in South Africa.
Illustrate what are the main characteristics of a perfectly competitive market that cause buyers and sellers to be price takers.
The price elasticity of demand for Stork ice cream is -4. Suppose you're told that following a price increase, quantity demanded fell by 10 percent. What was the percentage change that brought about this change in quantity demanded?
A U-shaped average total cost curve implies what?:
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