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Q. Problem #1: Use 2 goods to construct a production possibilities curve. Explain what a variety of different points on the curve mean. What would make the contract curve or expand? Why is efficiency lost at the boundaries, as while substantially more of 1 good and very little of another is produced?
Problem #2 Part A: Go to the internet auction site eBay® at www.ebay.com and select the category Jewelry as well as Watches which is followed by Loose Diamonds and Gemstones, and then Diamonds, Natural. Explain how many natural diamonds are for sale at the moment? Note the wide array of sizes also the diamond's prices. In which sense is there struggle among the sellers in this market? Explain how does that competition influence prices? In what sense is there competition among buyers? Explain how does that competition influence prices?
Problem #2 Part B: Describe what would happen if an outside agency determined the prices eBay could charge.
Problem #3: Read the "LAST word" feature on markets for human organs on Page 66 of your text. Next, select a social problem where free markets are not allowed to function and explain how free market features could be introduced to help improve the difficulty. As part of your answer also include a discussion of the risks of introducing market mechanisms in situations where ethical issues are present. Your answer should be approximately two pages long and in APA format
Enter a whole number as your answer, if you match up pairs of buyers and sellers so as to maximize the total surplus of all transactions.
In what industry will a given percentage increase in production workers result in the largest percentage increase in output.
Suppose she is offered a new job that would pay her $15,000 and would bring her earnings high enough so that she no longer qualified for any welfare benefits.
Define Mercantilism, Pick a country and talk about the products they import and export with the U.S.A. Also talk about the composition of trade with relation of abundance of the two countries
Explain how the reduction in supply from the reduced fishing waters will either increase or decrease consumer surplus and producer surplus.
Elucidate that contract align the incentives of the new vice president with the goals of the owners.
Exportof goods and services to foreigners is $1 million and import of goods and services from foreigners is $1.5 million.
Explain how it will affect the number of employees you schedule. All other things being equal, what will happen to prices of the Galaxy and the iPhone.
Brenda Johnson has used a preprinted form that she got from the internet to create her will.
What other variables should be considered when determining what is reasonable in terms of maintenance expense
Draw his budget constraint in terms of S and T. What is the slope of the budget constraint and how does it relate to the relative price.
Discuss the importance of a well-developed compensation plan in attracting as well as retaining good employees as well as how to keep those plans from "working too well."
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