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Question: In October 2001, Barry Bonds of the San Francisco Giants hit his record-setting 700th home run. After fan Alex Popov caught the ball, another fan, Patrick Hayashi, bumped him and grabbed the ball when he dropped it. The ball ultimately sold for $450,000 and Popov and Hayashi went to court, where they were ordered to split the money. If you were interested in efficiency, how would you decide the case? Why, if at all, would your exact decision matter?
assume that country a has a population of 500000 and only produces one good-cars. country a produces 100000 cars per
Consider the statement, "Monopoly power comes from market acceptance, not from a patent, a prettier product, a slick advertising campaign, or anything else.
Insurance agents receive a commission on the policies they sell. Many states regulate the rates that can be charged for insurance. Would higher or lower rates increase the incomes of agents. Explain, distinguishing between the short run and the lo..
Write the equation(s) for the new budget constraint
When the market is in equilibrium, what is the consumer surplus and producer surplus? Calculate it numerically. When the market is in equilibrium, what is the price elasticity of demand at (Q*, P*)? Calculate it numerically and interpret your calcu..
What were the labor-force participation rate and the unemployment rate for this group?
Examine the main reasons service companies are more sensitive to labor and price variances, as compared to material price variances, and determine the importance of companies managing these variances in relation to sustaining profitability.
Explain supply theory. Discuss factors that cause changes in supply and quantity supplied. How do changes in supply and demand effect market price and quantity? Explain the implications of tax on both supply and demand.
Which of the following curves- average fixed cost, average variable cost, average total cost, and marginal cost- would shift as a result of the lump-sum tax Why Show this in a graph. Label the graph as precisely as possible.
Consequently, an example of an Islamic-sound banking practice is a system in which depositors deposit money to participate in profit-sharing and the banks provide funds to borrowers on the same principle with a mark-up as payment for their financi..
Consider a $500,000 initial investment, annual savings of $92,500 for a 10-year period, a salvage value of $50,000, and a 10 % MARR applies. Using a spider plot, examine how sensitive the annual worth for the investment is to errors in estimating ..
DISCUSSION 2: Fixed and Variable Costs- First, describe several different fixed costs and variable costs associated with operating an automobile.
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