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The Motor Carrier Act of 1980 resulted in:
a. more firms entering the trucking industry.
b. lower freight prices.
c. All of these are correct.
d. lower value of a trucking license.
Monopoly Price is the same level where MR meets MC. Monopoly Demand is the Average Revenue. Airline Ticket is the Peak-Load Pricing. Electricity is the Intertemporal Pricing. Amusement Park fees are the Two-Parts Tariffs.
Discuss using an example what are public goods and why does it lead to a free rider problem. Why is fishing in the ocean, where there are no well-defined property rights, a concern regarding our ability to ensure sustainable use of our fishing stock?..
Describe one weakness and one strength of the gold standard. Do you agree with Milton Friedman that any system of pegged exchange rates is not a satisfactory system for countries with independent political systems;
Analytical essay about what are "liberal" (also related to Keynesianism, neoliberalism. nationalist and mercantilist, Marxist. ( also related "world system" and critical theories) how do they differ from or complement each other?
Suppose the demand curve for UK basketball tickets is perfectly elastic but the supply curve for UK basketball tickets is not perfectly elastic or perfectly inelastic. If the equilibrium price of UK basketball tickets is initially $2, a downsizing of..
The elasticity of demand for labor with respect to the wage rate will be less if firms using this labor are experiencing decreasing returns to scale than if they are experiencing increasing return to scale True false why
You are an efficiency expert hired by a manufacturing firm that uses K and E as inputs. The production function for a competitive firm is Q = K1/2 E1/2. The firm can hire labor at a wage of $15 per hour and rent capital at a rate of $60 per unit. Com..
If you advertise and your rival does not, you will make $ 10 million and your rival will make $ 3 million. If your rival advertises and you do not, you will make $1 million and your rival will make $ 3 million.
7) in 1988, the average wage rate was 9.45 an hour and in 2008 the average wage rate was 18 an hour. The CPI in 1988 was 118.3 and in 2008 it was 215.3. which is real wage rate is higher?
Find firm's profit-maximizing price and quantity. Illustrate what is profit. firm's production manager claims that firm's average cost of production is minimized at an output of 40 units.
Which of the following is TRUE of the cap-and-trade program in the United States?
The following table summarizes information which are associated with three new 3D Printers being considered for use in a manufacturing plant. Note that M&O stands for Maintenance & Operation Cost.
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