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Doctors often charge patients different amounts depending on their judgment concerning their ability to pay. what implication does this have for exchange efficiency?
Advocates of small businesses often argue that they should receive special tax treatment. Assume that small business had to pay only half the social security tax that is imposed on large corporation. What effect would that have on production efficiency?
There is this so called movement that claims the "science is settled". The climate is changing and if you don't believe it your are a "denier" . What I would like you to discuss is the this point the "science is settled" claim. When in human history ..
You have $100 to spend on food and clothing. The price of food is $5 and the price of clothing is $10. “It is not possible for a fall in the price of clothing to $5 to reduce the amount of clothing purchased.” show how the budget constraint changes w..
If your wealth is held as currency or checking accounts, or other assets that you can convert to money on the short notice, your assets are considered to be?
Ben quit his job as an economics professor to become a gold professional. He gave up his $30,000 salary and invested his retirement fund of $50,000 (which was earning 10 percent interest) in this venture. After all expenses, his net winnings were $35..
To save on gasoline expenses, Edith and Mathew agreed to carpool together for traveling to and from work. Edith preferred to travel on I-20 highway as it was usually the fastest, taking 25 minutes in the absence of traffic delays. Mathew pointed out ..
Suppose that an initial $10 billion increase in investment spending expands GDP by $10 billion in the first round of the multiplier process. If GDP and consumption both rise by $6 billion in the second round of the process, what is the MPC in this ec..
Introduce the debate surrounding abolition vs. equality and how it led to the American Civil War. Why were there significant fears about the impact of freed slaves in the North? Who had the most to win/lose? Your response must be at least 200 words i..
The time needed to complete an exam is normally distributed with (M,O^2) If 2.28% of the class can expect to complete the exam within an hour or less, and if 6.68% of the class need more than an hour and 35 minutes to complete the same exam, then wha..
In “Diminishing Marginal Utility: It's a Law,” a writer for the Ludwig von Mises Institute explains the concept of diminishing marginal utility, gives a detailed example, and then concludes that the law of diminishing marginal utility is “irrefutably..
In the text, we suggested that for well-off individuals with uniform taxation, preferences for education were not single-peaked. Why might preferences for local parks and urban public transportation systems (e.g., buses and subways) also not be singl..
What is the opportunity cost of an extra 10h shift at work, if your alternatives are to spend a maximum of 4h with friends at a bar (valued at 30$/h), doing problem sets for a maximum of 2h (valued at 10$/h), and suing for any amount of time (valued ..
How is the market-compensating wage differential between safe jobs and risky jobs determined? Which type will offer a higher wage?
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