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Jill earns more than Bob and she came by her income fairly and honestly. Which of the following political philosophies would argue against the redistribution of income from Jill to Bob?
a. utilitarianism
b. liberalism
c. libertarianism
d. all of the above
e. none of the above
What number of units will minimize the standard deviation of their return? What is this minimum value? And what is the corresponding return?
Yesterday, a perfectly competitive producer of construction bricks manufactured and sold 10,000 bricks per week at a market price that was just equal to the minimum average variable cost of producing each brick. Today, all the firm's costs are the..
Compute the output that can be produced in this firm using 1 through 9 units of labour by substituting these numbers into the production function.
a. Suppose that if the wage is raised a second time to $40 per hour, the number of cars sold rises to an average of 2.5 per day. What is now the labor cost per car sold b. If the firm's goal is to maximize the efficiency of its labor expenditures
suppose that you are hired as consultant to a firm producing a therapeutic drug protected by a patent that gives a firm
Assume the point elasticity method. 1. Anna owns the Sweet Alps Chocolate store. She charges $10 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be
What are M1 and M2? What impact would this action (pulling money from checking accounts) have on the size of the M1 and M2 components of the money supply?
All of its current sales are to private sector customers and each pays $12.00 per unit for the equipment. The sales price is equal to 150% of average variable costs. A government agency has offered to purchase 300,000 units at $10.00 each. If Comp..
In this context, what is meant by the statement that x3, is endogenous
It is common for supermarkets to carry both generic (store-label) and brand-name (producer-label) varieties of sugar and other products. Many consumers view these products as perfect substitutes, meaning that consumers are always willing to substi..
Suppose that the current market price of VCRs is $300, that average consumer disposable income is $30,000, and that the price of DVD players (a substitute for VCRs) is $500. Under these conditions annual U.S. demand for VCRs is 5 million per year.
How will this sabotage affect the results - However, Sandy and you were industrial spies, employed by the EF Pencil Co. and sent to ECON6351 to cause as much trouble as possible.
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