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If the cost of producing Einstein's Bagels is constant at $0.10 per bagel, should they reduce price and thereafter, sell more bagels (assume profit maximization is the company's goal)?
Sketch a well labeled graph showing the impact of the tax. On whom does the tax burden fall-the team's, owners, the fans, or both.
Elucidate what does either player have a dominant strategy. Explain is there Nash equilibrium in this game.
Assume that economy starts at equilibrium and mpc = 0.8. Illustrate what would be effect of a $500 increase in taxes once all rounds of multiplier process are complete.
What difference did the Calvinist notion of predestination play such a critical role in the accumulation of capital in countries such as Switzerland, the Netherlands and Great Britain?
The relative price rule is equivalent to saying the marginal utility per dollar is the same for both goods, or goods should be consumed in the same ra5tion as their relative price.
What is the social optimum? What specific tax per unit of output of gunk results in the social optimum.
Represent graphically the effects of an expansionary monetary policy and a contraction fiscal policy in the IS/LM/FX model.
Elucidate how scarcity of resources influences this market and describe the choices stakeholders are forced to make.
Identify and explain the incentives for entrepreneurship. Address why someone would willingly take the numerous risks associated with running a business. Also, discuss the major attributes necessary for a successful entrepreneur
What could be the full increase in real GDP from the change in government spending assuming that the aggregate supply curve is horizontal across the range of GDP being considered.
Is there a surplus or deficit in the government budget at the equilibrium level of income.
If interest paid on the account was compounded annually, explain how much interest on interest was earned.
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