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1-Discuss and explain the limitations of the United States "supply side" policy in the war on drugs. Can we win the war on drugs? explain your position on legalization. Why does prohibitionism policy by gov. lead to a) an increase in poverty crime, b) an increase in violent crime, particularly crimes with handguns?Discuss in terms of the pros and cons of legalization.
2-Discuss some theories or explanations of why the crime rate fell in the 1990? Murders are now on the rise again. Why? What role does demographics play-to what extent are youth actually responsible for the increase in murders> What type of data would you need to test the hypothesis that predatory youth are responsible for the increase in murders?Is murder a rational crime? Why or why not?
Assume a decrease in consumers' incomes causes a decrease in the demand for chicken and an increase in the demand for potatoes. Which good is inferior and which is normal? Explain your reasons.
Using the following equations Qs = 13,000P and Qd = 48,000-6,000P. Plot supply and demand curves (require a graph). Determine the equilibrium price?
Using two graphs, show consumer surplus before and after government intervention.
In short run, assume that all the costs [except film rental and concessions] at a theater are fixed, and that each theater can seat five hundred people per day, no more.
Assume marginal cost increases to 25 as a result of imposition of a tax. What takes place to monopoly and competitive price and output?
Because agricultural demand is inelastic, a technological advance which lowers production costs will reduce total revenue. Thus, farmers have no incentive to introduce such a technique.
There're many different kinds of monopolies which exist in the market. you're going to talk about the different kind of monopolies, their place in the market, and their effect on society. please describe the following:
Using aggregate demand, short run aggregate supply, and long run aggregate supply curves, describe the process through which each government policies will move economy from one long run macroeconomic equilibruium to another.
Discuss short and long run expenses. For the short run discuss the relationship in cost and production theory and the idea of diminishing returns.
Assume that as the result of recent labor negotiation, wage rates are reduced by 10% in the production procedure employing only capital and labor.
Explain the difference between the demand curve facing the monopoly firm and demand curve facing the perfectly competitive firm.
You were recently hired to replace the manager of the Roller Division at a major conveyor manufacturing firm, despite the manager's strong external sales record.
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