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Bubba is a shrimp fisherman who can catch 4,000 pounds of shrimp per year. Bubba is considering hiring his cousin Bobby to work for him. Bobby can catch 3,000 pounds of shrimp per year. If Bubba hires Bobby, what will be the total output of his shrimp business?
Rexall Industries is planning to expand sales of its line of drilling machines to the mid-west. We hoped one of our existing salespeople would be willing to take over the new territory. However, they have all turned it down. So, we’re going to have t..
Compare your answers to part d of problem 2 with those of part a of this problem also elucidate why they are different
Elucidate how much money should the government spend to eliminate this gap. Elucidate how much money should the government give in tax cut to eliminate this gap.
Initially, two steel firms are each releasing 100 units of pollution, for a total of 200 units. The government wants to reduce emissions by 40%. The steel firms have the following marginal abatement costs (MAC): If Pigou tax approach is used, what wo..
A consumer consumes 2 goods (X and Y) and has convex indifference curves for the two goods. In period 1 the price of each good is 2 and the consumer’s income is 8. In period 2 income and the price of Y are constant, but the price of X declines to 1. ..
Does the fact that Apple outsources so much of its labor affect your decision to buy Apple products - For U.S. consumers and producers, what are the pros and cons associated with Apple's decisions to outsource production?
What lessons can be learned from the Marshall Plan for a new “Global Marshall Plan” to support the developing countries?
If international trade increases prices, employment, and wages among more competitive and efficient producers but has the opposite effects among less competitive and efficient producers, why should anyone listen to opponents of international trade? E..
Analysis of Viet Nam economy's GDP composition and growth over time, as well as an investigation of Viet Nam's basis for income generation and any and all constraints to growth.
Suppose a wage increase from $19 to $21 an hour increases the number of job applicants from 50 to 64. What is the price elasticity of labor supply?
What is the difference between the Federal Reserve’s “discount rate” and the “federal funds” rate? Why is the discount rate in the US not as important in financial markets as the federal funds rate?
What criteria would you apply to determine where such a policy is or is not successful. Judging from your own stated criteria, was Japan's exercise successful. Why or Why not.
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