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In the beginning of the course, we identified the 5 expected outcomes for this course. In this optional conference, I would like to see if we successfully met these outcomes.
For each of the outcomes listed below, identify what you learned that you think fulfills the course outcome. Also let me know where you think this outcome was met (e.g. lectures, conferences, papers, presentation, etc.).
You do NOT need to respond to your classmates.
Given the role of technology in contemporary society, after completing this course, students will be able to:
Consider a firm with the production function, q = (K^(0.5) + L^(0.5))^2. In the short-run, the level of capital is fixed. Determine the equations for MPL and APL. Solve for the short-run cost function (i.e. total costs as a function of output) Solve ..
You decide to buy 1,300 shares of stock at a price of $86 and an initial margin of 75 percent. What is the maximum percentage decline in the stock before you will receive a margin call if the maintenance margin is 40 percent?
If we are measuring social welfare using a Rawlsian social welfare function and a change in resource allocation results in one person's gain exceeding another person's loss, we cannot say that the new allocation increases social welfare. Explain why.
Recent research has found dementia is anywhere from 14 percent to 100 percent more prevalent among the black American population than among whites. Following this, Dr. Z.H. Ivago spends more time interviewing black patients on possible memory lapses.
Suppose the marginal costs of pollution reduction are unknown and the government is choosing between regulating the quantity of pollution directly or taxing pollution. “If the marginal benefit from pollution reduction is elastic (flat), it is better ..
The Hilltop Coffee Company is a perfectly competitive firm producing where MR = MC. The current market price of a tall café latte is $5.00. Hilltop sells 200 tall café lattes. Its AVC for coffee lattes is $8.00 and its AFC is $3.00. What should Hillt..
A specialty concrete mixer used in construction was purchased for $300,000 7 years ago. Its annual O&M costs are $105,000. At the end of the 8-year planning horizon, the mixer will have a salvage value of $5,000. If the mixer is replaced, a new mixer..
Lenny was a resident of Maine and Milly was a resident of Arizona. Both went on vacation to Nevada. When on the golf course, Lenny drove the golf car recklessly, hit Milly, breaking her back. Milly suffered damages of $84,000. Indicate which states ..
Suppose there is an increase in the monthly fire insurance premium that department stores have to pay. Assume that department stores are a competitive industry. In the short-run, will the prices of goods sold at department stores increase or remain u..
Of the many arguments in favor of tariffs, the one that has enjoyed the most significant economic justification has been the: If the U.S. demand for Korean steel is price elastic, an export subsidy granted to Korean steel firms will increase Korea's ..
Consider two metropolitan areas, one that has many small school districts and one that has only a few large school districts. How are the efficiency and equity effects of introducing a voucher system likely to differ across these two areas? Relate yo..
Consider a consumer with the following preferences and budget constraint: graph the budget constraint and some of the consumer's indifference curves on a graph. Be sure to cleary label the axes, slopes and intercepts.
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