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Plato's attempt to explain the world around us. Just picture it: You are chained to the ground and all you can see in front of you is a cave wall. There is a light source behind you, which casts reflections on the wall. What do you think you would think of these reflections? Could they represent family members? Or friends? What about a god?
At each level of output compute savings. At each level of output, compute unplanned investment (inventory change). What is likely to happen to aggregate output if the economy were manufacturing at each of the levels indicated?
derive the marginal rate of substitution mrs between x and yuxyaxp1-ayp1puxylnxy uxyxaxalphaybetay
An economy consists of three workers: Larry, Moe, and curly. Each works ten hours a day and can produce two services: mowing lawns and washing cars. In an hour, Larry can either mow one lawn or wash one car; Moe can either mow one lawn or wash two..
1. suppose honey is produced in a beehive using bees and sugar. each honey producer uses one beehive which she rents
GDP (You may use the purchase power parity figures.) Per capita GDP, GDP growth rates for the past 5 years, Percentage of GDP spent on military expenditures,Population and population growth rates for past 5 years
Some economists argue that the government intervention makes the economic outcome even worse. Some argue that there are important economic roles of the government. What is your opinion? Does the government do good or bad? Briefly discuss.
The soft drink industry is a duopoly with differentiated products. Two firms, Coca-cola and Pepsi, compete through Cournot quantity-setting competition. Denote the quantity that Coca-cola and Pepsi produce by Q1 and Q2, respectively.
1. Explain Opportunity Cost and provide an example. 2. What is the difference between absolute advantage and comparative advantage? What is the benefit of trade? 3. Provide a brief description of supply and demand. How is equilibrium used to determin..
Which nation has the absolute advantage in the production of tanks. Why is it this country.
The 3-Stooges partnership is planning three long-term capital investment proposals. Each investment has a useful life of 5 years. Relevant data on each project are as follows.
Next assume that the price of a substitute resource increases, other things constant. What happens to demand for labor What are the new equilibrium wage rate and employment level What happens to economic rent
1. corporate or organizational culture what is it? how would you describe corporate culture? is it a positive or
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