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Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. What motivated the producers of those individual products to make them and offer them for sale? How did the producers decide on the best combinations of resources to use? Who made those resources available and why? Who decides whether these particular hardware products should continue to be produced and offered for sale?
Draw a supply-demand diagram of the kenyan mangoes market to illustrate both the autarky and free trade positions. make sure you use all the information presented in the some facts above?
Describe benefit and cost externalities. List the reasons for lack of optimal allocation of resources in each case. Explain the need for government intervention in case of market failure due to externalities. Explain why government intervention may n..
Recently, there has been a lot of press about high lead content in toys made in China. This negative press can affect the foreign exchange rate in the United States dollar and Chinese yuan.
Are there any current subsidy or welfare issues that are being duscussed or addressed in parliament?
Discuss why it would cost Pete Sampras or Venus Williams more to leave the pro tennis tour and open a tennis shop than it would cost a coach of a tennis team to do so.
Based on the assumption that each family spends $100 plus one-half of its total income each week, what is the total weekly consumption spending of a poor family prior to instituting the tax? What is the total weekly consumption spending of a rich ..
Discuss the effect (increase or decrease) of an increase in the tax rate, t, on the equilibrium income Y* using the effect of increasing t on the equilibrium solution.
Diamond makes an argument that all stratified societies employ one (or a combination) of four means to enable and justify the distribution of the social surplus. From the readings, discuss feudal stratification and how it was enabled and justified..
natural monopolies is a commonly used, potential solution to the problems presented by natural monopolies. a. Giving incentives to firms to become b. Regulating c. Breaking up firms that are d. Outlawing price discrimination by e. Refusing to grant p..
An asset is expected to be used in a project that will last 5 years. The MACRS property class for this asset is 3 years. If B = 10,000 and S = 3,000 at the end of year 5, determine the depreciation schedule.
Almost all of the fossil fuels that we are now currently using were formed during the Carboniferous period. (b) There seems to be a strong correlation between increases in the availability of food energy per person and increases in human populati..
If we assume that wage differences are caused solely by differences in productivity, how many times more productive was the average worker than a worker being paid the Federal minimum wage?
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