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What responsibility do we have as a society to help the elderly and disabled? What potential changes could the federal government enact to help the viability of both programs? How can the Social Security program be fixed to ensure a viable future for everyone? Please research regarding the Social Security/Medicare crisis. Give specific details on the changes that have been proposed and are viable.
Consider this natural extension of stripped down poker game we examined in class. Initially each player puts a dollar in the pot. Then each player is dealt; each player’s card is equally likely to be high or low, independently of the other player’s c..
Victor Finick likes to have the same amount of x as he has of y. His utility function is U(x, y) = min{2x - y, 2y - x}. a. Draw the indifference curve for Victor that passes through the bundle (0, 0) and the indifference curve that passes through (4,..
Demonstrate a critical understanding of the standardization vs adaptation debate in International Marketing. Make reference to positives and negatives from organisational and consumer perspectives.
Suppose that the paper clip industry is perfectly competitive. Also assume that the market price for paper clips is 2 cents per paper clip. The demand curve faced by each firm in the industry is: Always higher than the firm's MC curve. A horizontal l..
According to the law of increasing opportunity cost,
q1. what effective value is facing japan airlines for the purchase of a boeing 747 if boeings aircraft values in
Suppose that a pay equity plan has just been put in place in your organization. The pay equity consulting firm did a job evaluation and assigned points to each of the male-dominated and female-dominated jobs.
Explain how GDP is measured in your country - explain who would benefit directly and who would lose directly from such restrictions.
Assume that a corrective tax is placed on aircraft passing over a residential area that is located near an airport. Should the proceeds of the corrective tax be used to compensate those who are harmed by the aircraft noise? Explain.
Suppose that a firm's production function is Q= min{K,L} . Currently, the wage is w= 8 and the cost of capital is r=8. What is the minimum cost method of producing Q=40 units of output? Suppose that wages fall to w=4. Keeping total cost the same, wha..
Red Valve Co. of Carnegie, Pennsylvania, makes a control pinch valve that provides accurate, repeatable control of abrasive and corrosive slurries, outlasting gate, plug, ball, and even satellite coated valves. How much can the company afford to spen..
The demand function for a firm’s product is Q = P^(-3). The firm’s marginal cost of production is constant at MC(Q) = 12. Calculate the elasticity of demand, as a function of Q. Based on your answer to (c), what is the firm’s profit-maximizing price?
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