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Felicity is studying economics and political science. She can read 30 pages of political science per hour but only 5 pages of economics per hour. This week she has a 50-page assignment in economics and a 150-page assignment in political science. Because of sorority rush, she cannot devote more than 10 hours to studying these subjects this week. She realizes she cannot complete all of her assignments but is determined to complete at least 30 pages of her economics reading. Draw a graph with pages of economics on the horizontal axis and pages of political science on the vertical axis. On this graph, show the possibilities that are consistent with the constraints that Felicity has imposed on herself. (She is allowed to read ahead in either subject.)
The only other costs associated with manufacturing and distributing Brand X chips are the costs of raw potatoes, peanut oil, and bags; last year FoodMax spent $2.8 million on these items, which were purchased in competitive input markets. Based on..
According to a recent article in the Wall Street Journal, side-impact crashes are among the deadliest, accounting for nearly 10,000 deaths per year.
Discuss should the government minimize unemployment rate? What will happen if the unemployment rate is too low?
In national income accounting identity showing the equality between national saving and investment, what is the representation of private saving and what is the representation of public saving?
The questions posed are broad and open ended so be careful to allow yourself enough research and planning time.
Elucidate the relationship among the ratio of marginal utility and the price of each good consumed in consumer equilibrium.
The mayor also considers issuing pollution permits and establishing a market for these permits. Plant A is given an initial endowment of permits such that it must engage in 60 units of pollution abatement (reduction). Plant B is given an initial e..
Show in an IS-LM and AS-AD graph the effects of an increase in government spending. Next, using the same graph, show how the economy will transition back to the natural rate of unemployment. Explain intuitively how this transition takes place.
As with this data how could you make the cost benefit test to tell if at a given percentage level abatement is effiecient.
Illustrate what are institutional arrangements. Why are they considered important fundamental determinants of economic growth and development.
Write an essay evaluating the role of governments in assuring that developing countries obtain a fair and adequate share of the benefits of international trade.
As consumer surplus is closely related to the supply curve for a product, producer surplus is closely related to the demand curve for a product.
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