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Q1. What are the main reasons for people to make non-rational choices? Is there any specific science that study non-linear, non-rational, non-optimal choices?
Q2. Develop a regression equation using the data you collected from your research. Use the regression equation to focus the demand for the product you chose for the next 3 periods. Evaluate the results of the regression equation tells managers and how it is likely to impact decisions made related to maximizing profitability.
How many acres should John choose to mow in order to maximize profit. Prevailing market price of lawn mowing is $20 per acre.
Suppose the United States sets a limit on the number of tons of sugar that can be imported each year. This is an example of a(n )?
In market economics, firms rarely worry about the availability of inputs to produce their products, whereas in command economies input availability is a constant concern. Why the difference.
Starting with the situation in part d, suppose the government starts taxing the population $30 each year without spending anything.
Illustrate what are some of the limitations of the national income accounts in how they represent our standard of living.
Suppose the firm is operating in a high-wage country, where capital cost is $100 per unit per day and labor cost is $80 per worker per day. For every level of output, which technology is cheapest.
Respond to each of the following questions in 150-200 words each covering the economic topics and concepts described in chapter 9 and 10 of the text, Essentials of Health Economics.
Use the principles of supply and demand to address a predetermined goal (set by the student) in the gasoline market. Be clear on what the current market indicates and why and what your future goal is.
Illustrate what might you consider to be your "fixed factor". Illustrate what alternative decisions might you be able to make in long run.
q.you are watching national news broadcast with your parents. the news anchor clarifies that the exchange rate for the
If policymakers want to reach full employment while maintaining balanced trade, what combination of monetary and fiscal policy should they use.
Explain why would elasticity of demand be important to you in determining the products on which the taxes should be leived.
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