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What determine the quantity of corn we grow, homes we build, and health care survives we produce. Sixty years ago farm output was 5% of the total US production now it is 1 percent.
The curve that is traced out when we keep indifference curves constant and move the budget line parallel to its original position is:
Choose a foreign country that you have visited - or would like to visit. Download the data (there is a link at the bottom of the page). USING THE DATA (use "dollar price of a BigMac"in column D) explain whether a Big Mac costs more or less than ..
Before 2005, economists estimated the cross-price elasticity between fruits and vegetables to be +1.5. Since the introduction in 2005 of the "New Food Pyramid", the revised estimate of the cross-price elasticity between fruits and vegetables is no..
Suppose the price of housing increases to 3, but the price of food stays at 10. Rewrite Jane's budget constraint and draw it on a graph. Now suppose the price of housing decreases to 1. Rewrite her budget constraint again.
As we know about the own-price elasticity for good x.
the marketplace in which it operates the role of government regulations of company and any issues or opportunities that the Home Depot faces.
Explain in detail how a decrease in consumer demand for a product will result in less of the product being produced and in fewer resources being allocated to its production.
When IBM sold its personal computer business to Lenovo, one analyst remarked that the PC business was "a corner of the technology market where few companies have been able to generate consistent profits." This low-profit result would be expected i..
The only variable input a janitorial service firm uses to clean offices is workers who are paid a wage, w, of $8 per hour. Each worker can clean four offices in an hour. Determine the variable cost, average variable cost, and the marginal cost of cle..
The government purchases component of GDP does not include spending on transfer payments such as Social Security. Thinking about the definition of GDP, explain why transfer payments are excluded.
Elastic with respect to its own cost and whether Good Y is a substitute or a complement with respect to Good X.
Discuss the criteria that might be applied in determining if a court should uphold a state's expropriation order or nationalization of private property. Cite to any international case that is relevant. Is there an" American counterpart" case in th..
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