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Write a 750-word paper on the biblical view of science, technology, and the business world. How do you think the eighteenth-century world that gave rise to the Utilitarians reacted to the biblical view?
According to Keynesian theory when should expansionary fiscal policy be used? How does this change GDP, unemployment and the price level?
An entrepreneur took a one-month leave of absence. Elucidate how many units did she have to sell To facilitate turn a profit
Draw a Phillips Curve. Explain why economists claimed that the Phillips Curve represented a menu of social choice. Do economists still believe in the menu view of the Phillips Curve? What view has replaced the original view?
Suppose there are two industries, airlines (A) and breweries (B), and that the demand for secretatrial labor, E, in each industry is EA = 25 – wA and EB = 20 – 2 wB. If the supply of secretarial labor is E = 2 w, then what are the equilibrium wage an..
Which market structure that may have two demand elasticities. Which market structure has less elastic demand?
Demand Function: Q=1,000 - 40 P MR=25-0.05 Cost Function: 4,000 + 5Q How do you achieve the optimal price and quantity? How do you formulate the solution?
Firm A and Firm B are competitors in the same industry. The two firms have similar operating costs, except Firm A has more fixed operating costs than Firm B. As a result, which firm would experience a greater change in operating income as the result ..
Assuming that each choice results in the same production costs once installed, under what choice is the firm likely to encounter a greater likelihood that its competitors will also expand their capacities?
How does the analysis of risk aversion change when one allows for alternative models of decision-making then expected utility? How does subjective expected utility theory differ from expected utility theory? How might one elicit a subjective probabil..
Why does the assumption of independence of risks matter in the examples of insurance.
Consider a labor market where the current equilibrium wage rate (W) is S5 and there are 50,000 individuals employed. Assume that the elasticity of demand for labor (ED) is equal to -0.2 and that the elasticity of supply (Es) is equal to 0.1. Now, if ..
The industry demand curve for a particular market is: Q = 1800 - 200P. The industry exhibits constant long run average cost at all levels of output, regardless of the market structure. Long run average cost is a constant $1.50 per unit of output. Cal..
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