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Do some research on the country of Ethiopia and discuss:
1. Who in the Ethiopian society has the most difficult time dealing with scarcity?2. What do they need most?3. How can their society provide for their wants and needs?4. Why are they so impoverished?5. What can their governments do to help, or hinder their country's development?6. Could not Ethiopia become a world class producer and exporter of goods? How would Ethiopia compare with Japan? Japan is a country relatively POOR in natural resources, yet it is an economic world powerhouse. What are the differences between the two countries?
during his first year at school, ximin buys eight new college textbooks at a cost of $50 each. Used books cost $30 each. Is ximing better off, the same, or worse off after the price change.
The company depreciates its assets on a straight-line basis and has a marginal tax rate of 40 percent. The firm's cost of capital is 14 percent. Based on the internal rate of return criterion, should this machine be purchased?
Suppose a consumer's preferences can be described. Derive the customer's marginal rate of substitution at the point.
At this level of pollution, what is the marginal cost of pollution control.
Sophie knows nothing about any of this. Can Tasty Foods be convicted of a crime in se circumstances. Can Sophie be held personally liable.
determined the point price elasticity of demand at P=$3. What is the new point price elasticity if price is raised to P=$4.50? Comment on the change in elasticity
Joe has $16 to spend on Twinkies and Hohos. Twinkies are prices at $1 and Hohos are priced at $2 per pack.
In equilibrium, approx what is the firm's total cost and total revenue. Illustrate what is the firm's economic profit or loss in equilibrium.
Assume the Bank of Japan allowed the money supply to grow by 2% each year while the Bank of Korea chose to maintain relatively high money growth of 12% per year.
it is estimated that the price elasticity of demand is -3.0. Is the firm charging the optimal price for the product. Demonstrate how you know.
Suppose instead that the station seeks to maximize its profit from sales of the DVDs. What price should it charge. How many DVDs should it order from which supplier.
You promise to cut tax rates, increase transfers and government purchases, reduce the governments budget deficit and reduce the governments debt as a fraction of the gdp. If elected, is it possible for you to keep all of your campaign promises.
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