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What political ideals and practices emerged in the Classical Civilizations? How have the ideas born in this period informed or shaped modern political values? How would political leaders from the Classical Civilizations view the state of politics today?
The import tariffs that President Bush placed on imported steel likely had what effect?
A monopolist with a straight line demand curve finds that it can sell two units at $10 each or ten units at$2 each. Its marginal cost is constant at $8 per unit. A monopolist would produce how how many units and charge how much? A perfect competitor ..
How does social class impact a person's life? How are we socialized to view social class in America, various groups in poverty, and how do these perceptions shape social policies?
Assume your local congressman calls you for some economic advice. He wants to sponsor legislation to increase public spending on such common medical interventions as because he’s been told early detection saves money:
The marketing manager for Mountain Mist soda needs to decide how many TV spots and magazine ads to run during the next quarter. Each TV spot costs $5000 and is expected to increase sales by 300,000 cans. Each magazine ad costs $2,000 and is expected ..
You are a lawyer working with the International Court of Justice in The Hague in the Netherlands. Your task is to review a recent decision by a U.S. judge regarding extraterritoriality. What factors most influenced your decision? Do you know of any I..
A large automobile manufacturing company is considering the installation of a high-tech handling system. The initial cost of the system is $3,000,000 and it is estimated it will save $750,000 per year in manual labor, and will incur $27,500 in operat..
Specify the main economic (not political) drawback of economic integrations among nations? Explain (do so in no more than 40 words).
Suppose you own a specialized auto parts manufacturer. You purchase and have installed a new machine to make a particular type of part. The price of the machine plus installation is $300,000. If you have already purchased the machine, should you go a..
In the game "Plinko" on The Price is Right a contestant drops a chip, which randomly falls into a slot that is market with a dollar designation. There are nine slots, two of which are market $0. tow are marked S100, two are market $500, tow are marke..
Draw graphs showing a perfectly competitive firm and industry in long-run equilibrium. How do you know that the industry is in long run equilibrium? Suppose that there is an increase in demand for this product. Show and explain the short-run adjustme..
We have two individuals, A and B, who works 40 hours per week each. They each consume food and clothing. It takes each person 10 hours to set up the production of food, and thereafter it takes 1 hour per production of 1 unit of food. How many units o..
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