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In oral or English Auctions, the highest bidder wins but only has to outbid the second highest bidder. Does this concept make sense to you? What bidding experiences have you participated in?
Jim Range has to choose between buying more soda or more pasta for the week. He has a fixed income and he knows the prices of both products. Using indifference curves and budget constraints, illustrate the amount of soda and pasta that Jim will purch..
What does Tim Harford, author of the undercover economist, think are the major reasons for increasing inequality in English speaking countries?
Suppose a teenager is interested in buying a car that has a very good look. Draw the indifference curve for safety and look for this car, placing appearance on the horizontal axis.
q1. if you are the chief economist of a country experiencing high unemployment as well as flat gdp what macroeconomic
Describe the Heckscher-Ohlin model (also known as the factor endowment). How does it predict countries will emphasize their comparative advantage?
A study the seasonal demand and supply, explain what happened to cause the oil prices to fall to consumer demand in early 2015. Draw demand and supply curves to explain what happened.
What are some real-world examples of these different types of trading blocs?
The manager of a supermarket lowers the price of its 24-pack bottled water from $4.60 to $3.40 and as a result, sales of bottled water increases from 400-600 packs. What is the arc price elasticity of demand for bottled water? What are some of the ap..
Compute the numerical elasticity of long-run demand. Is it unitary, elastic, inelastic, etc. Explain why would consumers demand 0 minutes in the long run if the price was $.30 per minute.
Assume reductions in the amount of ground level ozone shift the marginal cost of producing alfalfa from MC1= 45 + 2QS to MC2= 45 + 0.5QS. Use the producer surplus to estimate the maximum amount alfalfa producers would be willing to pay for this impro..
Of the six possibilities, which entry-deterring behavior is most often used? Explain why you think that strategy was chosen most often? If you were the CEO of a firm, which entrydeterring behavior would you prefer to use? Explain, and be specific.
The federal government and the state governments constitute the U.S. legal system. This system is based on the legal system of
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