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Perfect competition usually excludes government, but does not have to. What assump-tions are required to exclude government? Hint: reflect on the concepts of market failure, and the comparative productivity of private and state activities.
With the per-unit prices of broccoli (B) and pork rinds (R) equal to $2 and $1 respectively, a consumer George, with an income of $1,000 purchases 400R and 300B. At that point, the consumer's MRSBR = 2R/1B.
Test overall significance of the estimators testing null hypothesis that R&D intensity does not change with all regressors, against the alternative it does change with the regressors.,
the football coach at midwestern university was given a 5 year employment contract that paid 225000 the first year and
assume the demand function and the supply functions for 24-can beer case in houston are demand qd 1000 ? 50p demand qs
Suppose a farmer has some money of his own to invest in a better way to cultivate his land. Cultivation can be done using two techniques, both of which require an initial start-up capital of $200. The first technique is risk free and generates a..
Assume we observe the following: Qt = 5; pc = 2; pt = 2. If the price of textbooks doubles, by how much does the income have to increase to keep the textbook consumption constant What happens to chocolate consumption Explain.
Market economies which honor the rule of contract law can be found in the First and Third Worlds. What does this suggest about the importance of culture and the adverse side effects of globalization?
Mexico Taiwan Canada Hourly wage rate $1.50 $3.00 $6.00 Output per person 10 18 20 Fixed overhead cost $150,000 $90,000 $110,000 a. Given these figures, is the firm currently allocating its production resources optimally
The demand function for orange juice is q=247-8p and the supply function is q=19+4p, where q is the number of units sold per year and p is the price per unit expressed in dollars. The government decides to support the price of orange juice at a price..
Suppose the demand for a firm's product is estimated to be P = 200 - 2Q from which it can be shown that TR = PQ = 200Q - 2Q2 . The cost of producing and selling the product is known to be TC = 625 + 50Q + 3Q2 .
What happens to the terms of trade? What about welfare in the two countries? Suppose, on the other hand, that Country Y retaliates with an export subsidy of its own. Contrast the result.
Two people take turns removing stones from a pile of n stones. Each person may, on each of her turns, remove either one or two stones. The person who takes the last stone is the winner; she gets $1 from her opponent.
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