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What is the impact on price, quantity and total revenue when supply decreases by the same amount along an elastic demand curve?
Calculate the range, variance, and standard deviation for this data series. Which measure does the best job of describing the dispersion in this variable.
Economists frequently point out that factor movements between two countries can be a substitute for goods movements between the countries in terms of the impact on relative factor prices in the countries. Explain why the two types of movements can be..
Total consumer surplus can be measured for good X by:
Suppose you could get an individual insurance to protect you against the unauthorized access to your laptop. The chance that someone will gain access to your machine is 0.10. In that case you will incur a loss of $200 (valuable information becomes av..
Describe the economic tools available for use to help build a sustainable society. Explain the trade-offs you believe we would have to make. In your response to your classmates indicate whether you believe the sacrifices would be too great for societ..
Explain your answer what would happen to the value of gold if public discovered that it could simply be made at home from inexpensive materials.
Draw the complete intertemporal consumption-savings model, and label completely and correctly. You may choose whether your consumer is a borrower or a lender, but state your choice.
Perform a Cost and Benefit Analysis for Trader Joe's company. Include a completed Cost Comparison Scorecard.
Determine whether the following production function exhibits constant, increasing, or decreasing returns to scale
Consider the following market game: An incumbent firm, called firm 3, is already in an industry. Two potential entrants, called firms 1 and 2, can each enter the industry by paying the entry cost of 10. First, firm 1 decides whether to enter or not. ..
How do concepts of dharma, karma, and samsara shape the social order in Hindu societies? What do these concepts have to do with the ideology of the caste/varna system?
create a case study based on a company of your choice. The case study should include at least 6 of the concepts that we have discussed in this course.
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