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It is not uncommon for someone to say something like “if we can put a man on the moon we should be able to… ”, followed by the person’s favorite project. What response can an economist make to this person?
can you think of any financial innovation in the past ten years that has affected you personally? has it made you
Indicate whether each of the following statements is true or false. Explain why. a. When the law of diminishing returns takes effect, a firm’s average product will start to decrease
What are the Costs to Society of Tariffs? Who are the winners, and who are the losers? What are the issues surrounding the use of trade barriers as a means of increasing domestic employment? What factors cause the value of the U.S. dollar to go up or..
If the firm's fixed costs double while variable costs are unchanged, then
Discuss your view about the modern bureaucracy, particularly regarding the size of the bureaucracy, its role in daily public life, and characteristics of the civil service workforce. In particular, discuss whether it should be easier to hire and term..
A perfectly A Perfectly competitive firm has a MPL = 20-L. If P = $5 and w = $10/hr. What is the optimal quantity of labor demanded?
q1. suppose there is a sudden change in the preferences for chocolates. however the price of production rises due to a
what compounded annual increase in cost is this? how does the increase in the cost of natural gas compare to a 3% annual rate of inflation during the same period of time?
Biff owns and operates a golf driving range on land that he also owns. Last year his accountant calculated that his driving range makes $50,000 profits per year. Last year a property management company offered to lease Biff’s land from him for $80,00..
A random walk process with drift:
The government releases a report saying that drinking coffee makes you live a longer, healthier life. At the same time, we discover that a very bad winter has killed most of the coffee plants in Brazil. How will these two changes affect the equilibri..
show the impact of the expeted future in gasoline prices on the current demand for gasoline by shifting the demand curve on a graph.
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