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Early Classical economists found the following "diamond/water" paradox perplexing: "Why is water, which is so useful and so necessary, so cheap, when diamonds, which are so relatively unnecessary, are so expensive?"
Assume that the The World Steel industry wants to expand and that its only option is a merger. Now the industry is confronted with government regulations to oversee the merger.
the following relations describe demand and supply.q 700 - 100p 1 q -100 100p 2where p is price in dollar and q is
At the moment of the purchase, the interest rate on gold coins was 5%- Was this purchase a good deal for Khazad-dûm Inc.?
Describe how each of the following will affect the price and quantity of equilibrium. To find out the new values, describe how the supply and/or demand curves will shift in the following cases (if at all).
The demand for lumber, like that for carpenters, is a derived demand-derived from lumber demand in its many uses, particularly housing. When the demand for new housing increases, so does the demand for lumber. For example, as the U.S. economy reco..
suppose a firms production function is given by q l12k12. the marginal product of labor and the marginal product of
1. in problem 1 charlie has a utility function uxa xb xaxb the price of apples is 1 and the price of bananas is 2. if
the problem of public-sector employee performanceit is generally recognized that one of the core problems of
what impact will the unanticipated increase in money supply have on real interest rate real output and employment in
choose a major capital piece of quipment to be used in the radiology department of a hospital e.g. cat scan mri nuclear
A risky asset has two possible outcomes. Outcome 1 pays $20 with 20% probability, and outcome 2 pays $50 with 80% probability. What is the standard deviation of payoffs of this asset? Show work
1.what impact do natural resources have on economic growth? will it be possible for a country with few natural
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