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There are numerous interest groups influencing government action in the United States today. Given your personal situation, interests, activities, and aspirations, list five special interest groups, which you might consider actively supporting, at least to some degree. For each group you list, provide an action, or a piece of legislation, which you believe the group should endorse.
Putting utility on the y-axis and wealth on the x-axis, use a graph to show why James would rather have $100 for sure instead of a gamble where he gets $20 20% of the time and $120 the rest of the time.
q. assume you have been hired as a managing consultant by a company to offer some advice that will help it make a
Discuss the differences between elasticity of supply and elasticity of demand answering the following equations:
Describe the goals of the factory owners? Describe the goals of the employees? Describe the problem caused by the scarcity. What is the price of a life.
q1. suppose that there are two products soda along with clothing. both brazil and the united states produce each
What is the cost function associated with producing y units of output? Assume now that input prices are (w1,w2). What is the cost function associated with producing y units of output?
Evaluate the arguments of the two partners. For full points please also explain and illustrate their points by identifying the relevant and irrelevant costs for this decision.
Dairies make low-fat milk from full-cream milk. In the process of making low-fat milk, dairies produce cream, which in turn makes ice cream. In the market for low-fat milk, the following events occur: Explain the effects of each of the above events o..
What is per unit cost of producing 60 units of output. ATC(60)=$10 What is per unit labour cost of producing 60 units of output. AVC(60)=$6.67 What is per unit fixed cost of producing 60 units of output.
Show whether or not the above production function exhibits diminishing marginal productivity of labor. Determine the nature of the Return to Scale as exhibited by the above production function.
Suppose a bank will pay you a 10% interest rate on your deposits for 1 period. In this case you must sacrifice $10 of current consumption to finance. One thousand dollars given to you a year from now is worth __________ to you today if the relevant d..
Suppose that, initially, the Michigan economy is in equilibrium with no unemployment. The supply of workers is ES = -1,000,000 + 200w, and the demand for workers is ED = 16,500,000 – 300w, where w = annual wages, and E = number of employed workers.
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