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1. If settlement is always cheaper than trial as a means of resolving disputes, why isn't it socially desirable for all cases to settle?
2. What does it mean to say that judges decide cases by precedent? Describe the costs and benefits of this method of judicial decision making.
Suppose that China catches up with American productivity so that Chinese worker can produce 100 shirts or 20 computers. What pattern of trade would you predict now How does this advance in Chinese productivity affect the economic well-being of the..
If in addition to interest rate costs, there is a cost of storing the wine that equals 2% of the wine's value each year, for how many years would you hold the wine before selling?
Secondly, explain the "red scare" and what are the profound effects of the red scare and the "second red scare" on American Jurisprudence?
Transportation costs per 1000 units 800 1,100 950 Which location would minimize the total costs, given an annual production of 50,000 unit for what levels of manufacture and distribution would each ..
Increasing customer satisfaction typically results in increased purchase behavior. For many products, there is more than one measure of customer satisfaction. In many of these instances, purchase behavior can increase dramatically with an increase..
The ABC Company has contracted to make the following payments; $10,000 immediately; $1,000 at the end of year 1; $1,500 at the end of year 2; $2,000 at the end of year 3; $2,500 at the end of year 4; and $3,000 at the end of year 5.
If John were to lower his price by $1, he would sell more carwashes, and still be able to charge a price above his marginal cost. Explain intuitively why it would not be profit-maximizing to do so. What price should John set for a carwash.
Some laboratory equipment sells for $75,000. The manufacturer offers financing at 8% with annual payments for 4 years for up to $50,000 of the cost. The salesman is willing to cut the price by 10% if you pay cash. What is the interest rate you wou..
Hernandez Corp. uses two variable inputs, X and Y, to produce its final product, canoes. Its engineering department has estimated the marginal product functions for inputs X and Y as follows: MPx = Y/X MPy = 4 X/Y Where X and Y denote.
design specifications require that the diameter of an automotive axel measure 200 plusmn 18 mm. the milling process
From this information, derive Kaleem's demand schedule. Graph his demand curve for bottled water. If the price of a bottle of water is $4, how many bottles does Kaleem buy. How much consumer surplus does Kaleem get from his purchases.
Does it depend on the size of the maximum? The shape/position of the indifference map? Are there circumstances in which the ceiling on available funds might have no effect on the mix of services provided?
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