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If an effort to “maintain national security” government demands the wheat growers in America to produce Qs=16million pounds per year. The market can be expressed as P=120-3Qd and P=5Qs. What is the result of the government’s actions?
What is another action the government can take that would have the same result?
"Oligopolies have a negative impact on income distribution." Do you agree or disagree? Provide justification for our response.
Suppose you have been asked to make a report for a group of new stock brokers about NYSE-Euronext and the NASDAQ.
Method in which Herb could use a cost-benefit analysis to argue for or against an expansion
Assuming no population growth or technological progress, find the steady state capital stock per worker , output per worker, and consumption per worker as a function of the savings rate and the depreciation rate.
What is the difference between substitutes and complements? Indicate two goods that are substitutes for each other. Indicate two goods that are complements.
Crew Brew produces a popular brand of beer in its mini-brewery located on a small river in Wisconsin. It uses a special formula, combined with the fresh water from the local stream, to produce a drink popular with local folks and tourists who visi..
Why do people hold their wealth in the form of money rather than another asset that will provide a rate of return higher that the rate on return
Government involvement in general scientific research has been justified on the grounds that advances in knowledge are public goods- once produced, information can be shared at virtually no cost.
if we observe that both the equilibrium price of peanut and the equilibrium quantity of jelly have risen, what could be responsible for this pattern - a fall in the price of peanuts, or a fall in the price of strawberries
1. Explain Mill's description of the stationary state and how it differs from Smith and Ricardo's descriptions. 2. In what ways did the Utopian Socialists seem to influence the PE thought of John Stuart Mill
Diminishing marginal utility explains a lot about consumer behavior in the economy. Select a specific consumer behavior and construct a "mini case study" that highlights the workings of marginal utility and how it affects the consumption pattern.
There is an inherent tendency in industry to substitute labor with fixed capital and employers can compel workers to produce more than the value of their labor.
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