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The last quarter of the nineteenth century saw the rise of radical challenges from farmers and working people throughout the United States. To what economic, social and political changes were these groups responding? What were their successes and/or failures? How did tensions and divisions among working people (and between farmers and workers)shape these struggles? Be as specific as possible as you construct your essay and be sure to consider the West.
Output for a simple production process is given by Q = 2KL, where K denotes capital, and L denotes labor. The price of capital is $25 per unit and capital is fixed at 8 units in the short run. The price of labor is $5 per unit. What is the total cost..
Which firm is the most liquid? Why? (Justify your answer with at least two ratios). Which firm is the most profitable? (Time Value of Money – Present Value) You have figured out that you will need $800,000 to finance your child’s college education wh..
Based on your answer in a and b, how can you reconcile the President's statement with economics? Can you suggest how his statement could be modified to be consistent with teh IS-LM model?
Imagine the following goal of Lenin/Stalin at the beginning of the Soviet regime in Russia: to overtake (i.e. equal) and surpass the world’s industrialized economies in terms of GDP per capita. The country begins with relatively little capital, being..
During an episode of hyperinflation, people tend to do which of the following?
Compute the firm's profit from part d. Solve algebraically for the profit maximizing quantity (QM) and price (P M). You should get the same answer as in d.
Give two reasons why the marginal cost curve is upward sloping. You will want to use a graph(s) as part of your answer. Be sure to explain in words what your graph(s) are showing.
Insurance Companies track life expectancy information to assist in determing the cost of life insurance policies. Last year the average life expectancy of all policy holders was 77 years. ABI Insurance wants to determine if their clients now have a l..
What do you imagine about the interest on payday loans is too high or just right.
Briefly explain why firms that pursue cost leadership or diffentiation achieve returns that are about equivalent, have higher returns, and firms that are stuck in the middle have the lowest returns?
A firm in a competitive input market can
The variety of Riverside Ranger logo T-shirts includes 12 different designs. Setup between designs take one hours (and $18,000), and, after setting up, you can produce 1,000 units of a particular design per hour (at a cost of $8,000). Does this produ..
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