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Why does the Great Salt Lake, which is wholly within the state of Utah, suffer lower levels of pollution than Lake Erie, which is bordered by several states and Canada?
What is "monopolistic" about monopolistic competition? What is "competitive" about a monopolistically competitive market? Please explain.
Compare the unemployment rate in the state of New Jersey to the national average of the past four years. Compare the trends in relation to the types of unemployed workers in the state of New Jersey. Compare the trends in relation to the types of unem..
Scarcity is the main reason we are studying economics. Scarcity exists when human wants exceed available resources. Write a four paragraph post that explains the difference between a want and a need? Please give five examples for each of these two co..
Consider a competitive market in long run equilibrium (all firms are identical with a U-shaped cost structure, there is free entry/exit in the market, and there are no other external price effects). Suppose the government imposes a fixed fee per year..
Economic growth completely depends on people consuming their income rather than saving and investing. Because patents provide strong incentives to develop new technologies, they tend to help to increase economic growth. Which of the following is not ..
Use a labor/leisure model (with leisure hours on the horizontal axis and income on the vertical axis) and words to explain in detail why an income tax creates a welfare cost (or excess burden). Assume that the tax is a constant marginal tax on earned..
Skectch the fundamental analysis of the supply and demand curve for the British pound in terms of dollars. (The quantity of pounds on the horizontal axis and the US dollars per pound on the vertical axis.
When the farmer makes this discovery, what happens to the opportunity cost of wheat, measured in bushels of corn?
Diminishing marginal returns begins with which employee? Suppose a pot sells for $20 each. What is the marginal revenue product of labor of the second worker? If wages are $50 per day and pots sell for $20 each, how many potters will the firm hire?
write down expression for marginal revenue. choose the quantity and the price to maximize profit, assuming firm can only charge one price.
how does each shrimp producer react to the increase in price? A. Each producer decreases its production of shrimp. B. Each producer increases its production of shrimp.
Calculate the price elasticity of demand for Newton's Donuts
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