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Select an article in a newspaper or magazine that discusses a government policy on goods or services. Analyze the situation and in 600-1200 words:
Summarize the article using at least three economic terms and theories covered in class.
Identify the impact of the policy on Demand or Supply of the good(s) or service(s). Discuss the change(s).
Draw a supply and demand graph to explain this change. Be sure to label your graph and clearly indicate the change of the curve.
Suppose the production function is given by y = 4x1 + x2. If the factor prices are $4 for factor 1 and $2 for factor 2, how much will it cost her to produce 70 units of output?
1. why do economists pay little attention to the algebraic sign of the elasticity of demand for a good with respect to
Small firms can discover the abilities of their workers more quickly than large ones because they can observe the workers more closely at a variety of tasks. Does it then make sense for people with high abilities to go to small firms
. In a sample of 300 houses, the sample average price was found to be $196,340. Assume the variance of house prices is 120,000,000. Let random variable X denote house price, and ? denote its unknown population mean, E(X) = ?. For each of the follo..
(a) List and describe the three tools of the Federal Reserve. Which of these three is the most important (and it's the most frequently used, too) (b) Continuing with what you answered for part a, explain how open market operations work. Be as comp..
discuss legal liability in terms of governance in long-term care settings. what agencies have oversight authority?
What are the necessary conditions for positive equilibrium prices and quantities? (b) What is the economic interpretation of the parameter "f"? (c) What will be effect (increase or decrease) of an increase in exogenous income on P*, the equilibrium p..
a describe using examples the three types of unemployment we generally come across and which of these are included in
Discuss the method of estimating earnings called Synthetic Life-time Earning
EMC has preferred stock outstanding which pays a dividend of $5.00 at the end of each year. This stock was issued in perpetuity and has no maturity date.
the mortex company assembles garments entirely by hand even though a textile machine exists that can assemble garments
A firm is focal point for a set of contracts. Explain the problems that (1) agency relationships, (2) asymmetric information, and (3) adverse selection can introduce to building a successful contract between two people.
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