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One of the criticisms of oligopolies is the adverse impacts these firms have on income distribution. Do you believe that is a valid criticism? Discuss with appropriate examples.
A.B. Denson Company had been employing 6 workers and 8 tons of raw materials, using 2,000 square feet of plant space. The firm increased its work force to 12 workers utilizing 16 tons of raw materials in a plant space increased to 4,000 square feet. ..
An owner looking to expand his production capacity in manufacturing ignition coils for automobiles. He is considering locations A, B, and C for the construction of the new plant. The owner desires the most economical location for a volume of 5000 uni..
Two similar surgeries, breast reconstruction and breast augmentation, have different prices. Breast augmentation is cosmetic surgery not covered by health insurance. Patients who want the surgery must pay for it themselves. Breast reconstruction foll..
Suppose that an individual has a utility function U(c) = c 1=2 : They have 400 dollars. With probability 0.1 they get sick, which results in complete loss of their wealth (their wealth becomes 0. a. What is their expected wealth? What is their expect..
What are the differences between economic and accounting concepts of cost? T or F If a firm is making economic profits, then it must also be making normal profits. How are prices determined under perfect competition?
Elucidate how they will help to improve the GDP as a tool for measuring the well-being of a nation.
If I produce 20,001 copies my total cost will rise to $750.02, therefore my marginal cost of producing copies must be increasing.” Draw a graph to illustrate your answer.
Can we say confidently whether good X is a normal good or an inferior good.
In general, do you favor having government more and more power to regulate private industry? Please provide documentation for your answers. Feel free to comment on the postings of your fellow students.
In 1980, Denmark had a GDP of $70 billion (measured in U.S. dollars) and a population of 5.1 million. In 2000, Denmark had a GDP of $160 billion (measured in U.S. dollars) and a population of 5.3 million. By what percentage did Denmark’s GDP per capi..
After the aggregate demand decreases in part “a” above, what kind of a demand- management policy would a typical liberal economist propose, an active policy or do nothing? How about a conservative economist? What justifications would they provide or ..
The rate of growth in the US economy is currently 0.5% annually. Your mission is to increase our growth rate to at least 4% annually, without setting off unacceptable levels of inflation. Think of ways to use your fiscal and monetary policy tools to ..
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