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Two metal blocks, one at 50o, and the other at 0o are set next to each other in a perfectly insulted box at time t = 0. At this instant are the blocks in thermal equilibrium? Now suppose you wait a long time. Are they in equilibrium now?
Find and expression for the marginal rate of substitution (MRS x,y ) at any point (x, y). Suppose x = 3 and y = 2, what is the MRS x,y ?
How could the incentives facing the people at the FDA be changed to reduce the incidence of Type ii errors Is it possible to compare the FDA approval process with the drug -approval process in other nations
Explain the price elasticity of demand in each market structure and its effect on pricing of its products in each market. The four market structures are monopoly, Perfect competition, oligopoly, and monopolistic competition.
Suppose that the price of good X rises and the price of good Y falls in such a way that the consumer's new optimal consumption bundle lies on the same indifference curve as his old bundle. Graph this situation. Compare the quantities demanded be..
If a country is currently producing 11 units of health care and 16 units of education. what is the opportunity cost of producing 5 more units of education?
If Mary has signed a lease for a shop with 1,000 square feet, if she is not able to get out of the lease or to expand her store in the short run, and if the price of a bouquet is $3 per unit, how many bouquets per month should she sell in the short r..
Suppose that the American imports of wine are a small part of total world wine production, draw a graph for the United States market for wine under free trade.
What share will be paid by the consumer in the long run? How about the short run? Provide some intuition for why these are different.
Write a grant proposal aimed at receiving funding for a programme that you expect to run in anarea (village) of a developing country of your choice.
Which of the following flows from the government to the households, according to the circular flow diagram? A)Goods and services
Suppose the price that year rose by 8% and the real rate of return in the stock market was 4%. Your friend says she or he was being more than fair giving you more than the rate of inflation as a return, What do you think and Why?
What is the relationship of the cost of producing output and the money receipts of businesses when there are only consumer expenditures? What should happen to the level of output?
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