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1. Why does the production possibilities frontier bow outward? Give an example of two goods for which this would be the case.
2. Does having an absolute advantage mean that you should undertake everything on your own? Why or why not?
An industry consists of two firms, each of which have variable costs of $10 per unit but no fixed costs. The industry demand curve is P = 70 - Q. Solve for the Cournot equilibrium. In doing so, derive the reaction function of each firm (call Q1 an..
Fluff Rite, Inc., manufactures stove top popcorn poppers that it sells to distributors, who then customize and distribute the products to retailers as house-brand poppers. The yearly volume of output is 100,000 units.
An $8,000 car loan is paid off with $250 monthly payments over three years, what monthly interest rate r is the bank charging? It can be shown that this problem translates into the equation
Explain what happens to the coefficient on coll in terms of its magnitude and its statistical significance when points , rebounds , and assists are added to the regression. Why do you think this happened?
Find the mean marginal tax rate for the population. How do these mean rates differ from the actual rates?
Suggest an O(m) algorithm for identifying all components of a (possibly) disconnected graph. Design the algorithm so that it will assign a label 1 to all nodes in the first component, a label 2 to all nodes in the second component, and so on. (Hin..
suppose that the employer concession SCHEDULE IS W=1+0.02S and the union resistance curve is W=5+0.02s-0.01S2, where=percentge wage increase and S=expected strike length in days, Using Hick's simplest model, determine the length of the strike and ..
Analyze the message delivered by each of your visual media items. Foreachitem, respond to the following questions in complete sentences. Cite evidence from the resource and the lesson to justify your responses.
Plot the residuals versus the order in which the observations were made. Is there a trend in the residuals over time? Does the linear model seem appropriate? Explain.
Create your response, in the Assignment submission box below (not in the Comments field), as a journal or diary entry. Researching the musical Hair most likely will be needed
The licensing restrictions allow each company to sell as much as it wants at a price ceiling of $2,200. You have the following output and MC data for each company: Output MC ($) Q Abba Babba Cabba 1,000 2,500 2,600 2,700 2,000 2,400 2,300 2,500 3,..
Miguel is a farmer who produces oats. The oat market is a pure competition market. Miguel is now making choices in the short run. The going rate for oats is currently $24 per unit. The total cost function is as the table above shows. What is the p..
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