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Is Greed Still Good, Mr Gecko?During 1980's the movie Wall Street seemed to accurately capture themes of the day. Michael Douglas starred in movie as Gordon Gecko - a brilliant, driven and corrupt stock broker. At one point, Gecko utters a famous line, "Greed is Good." To what extent, in capitalism, is greed good? In what sense is greed bad? Can greed be constructive? If so, how?
What happens to the student's budget line? Illustrate the change with new books on the vertical axis. Is the student worse off or better off after the price change. Explain.
Compute the quantity supplied by each firm at prices of $1, $1.50, and $2. What is the minimum price necessary for each individual firm to supply output?
Are you in favor of either deficit spending on the part of government or one of a balanced federal budget and budget surpluses?
A firm uses two plants (A and B) to produce the product. The plant's marginal cost functions are given by the following equations:
Suppose that the economy is already in recession, and both President and Congress have declared to do something to restore the economy.
The costs of manufacturing steel declined substantially from building a conventional hot rolled steel mill down to new mini mill technology that need only scrap metal,
Calculate the marginal and average variable product of each unit of labor input. Hint: plot your Units of labor and Units of Output vertically. Calculate total, average total, average variable, and marginal costs.
What does the market for sugary sodas look like? Provide a supply-demand graph with realistic prices.
n a competitive market place (pure competition) is it possible to continually sell your product at a price above the average cost of production.
Do workers of monopolies get paid more compared to employees who do the similar work in other industries that are not monopolies?
Having a little trouble setting this problem up. Would appreciate the detailed set up and solution. A production function has 2 inputs - labor and capital. Both are perfect substitutes. Existing technology permits 1 machine to do work of 3 workers..
Suppose you own the home remodeling company. You're currently earning short-run profits. The home remodeling industry is the increasing-cost industry. In long run, what do you expect will take place to
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