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What is rent seeking behavior? How does it explain why government has grown in recent years and how it explain why it is difficult to change tax or spending policies in the United States?
The consumer is indifferent between B and a lottery ticket with probabilities. Construct a set of von Neumann - Morgenstern utility numbers for the four situations.
Why do you think that approximately one-sixth of the world's population has not experienced much substantive economic growth over the past 30 years?
A firm has a fixed cost of $200 in its first year of operation. When the firm produces 99 units of output, its total costs are $4,000. The marginal cost of producing the 100th unit of output is $700. What is the total cost of producing 100 units?
Describe the point at which diminishing returns occurs. indicate the points that delineate the 3 stages of production.
A profit maximizing monopolist hires workers in a perfectly competitive labor market. Employing the last worker increased the firm’s total weekly output from 110 units to 111 units and caused the firm’s weekly revenues to rise from $25,000 to $25,750..
Drawing on current business publications, find out some updated facts for each case that support this theme.
Everyone who has baked with the new flour loves it, but she is having trouble getting potential consumers to the desire stage of the AIDA concept.
Illustrate what is cost at which good is sold, domestic quantity supplied and demanded and quantity imported or exported.
Review Netflix 2013-2014 balance sheet, income statement, statement of stockholders' equity and statement of cash flows. Pay particular attention to sales and net income for the last two years. Comment on 2-3 items that you find remarkable on any of ..
In 1990, the Supreme Court of the United States found which Texaco had indeed violated antitrust law. Which law do you think Texaco was found guilty of violating.
q1. suppose that the market labor supply and labor demand equations are given by qs 5w and qd 30 - 5w. if a minimum
Illustrate what change in the economic enviJorgement led to this new equilibrium.
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