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If the income elasticity is negative 3.5, is this a substitute, complement, normal or an inferior good? Is this elastic or inelastic?
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Which of the following would cause an increase in economic growth?
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(1/2 page min, no cut and paste, site refs "no wiki") According to Diamond, define and explain "the Great Leap Forward" as it relates to human...
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You are given the following information about the economy of Nocoin: The banks have deposits of $300 billion.
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Consider this quote by Thomas Sowell:
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Consider the market where there is product differentiation with two firms. The firms are choosing prices p1 and p2 and have demands given by q1 = 40...
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The residents of the town Ectenia all love economics, and the mayor proposes building an economics museum. The museum has a fixed cost of $2,400,000...
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In recent decades, women have worked more hours in paid jobs and fewer hours in uppaid housework. Explain how this increase in work hours affect GDP...
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Robinson Crusoe produces upper-loop product of $1000. He pays $750 in wages, $125 in interest, and $75 in rent. What must his profit be?
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Consider an economy with a constant nominal money supply, a constant level of real output Y = 100, and a constant real interest rate r = 0.
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If an economy is operating inside its production possibilities curve for consumer goods and capital goods, it: A) must improve its technology to...
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Suppose that market demand for golf balls is described by Q = 90 3P, where Q is measured in kilos of balls. There are two firms that supply the...
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Please solve, so I can verify or troubleshoot problem. (a) For what values of x does this game have a unique Nash equilibrium? What is that
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Prior to beginning work on this discussion, read Tim Worstall's article, One Benefit of Nancy MacLean's Democracy in Chains - Public Choice and Rent...
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Price Discrimination There are two types of consumers with inverse demands P1= 202Q1 and P2= 162Q2. Assume for now that N1=N2 = 1. There is a...
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Problem 1. Market Entry (65 points) Setup For this problem, you will need to read the paper by Camerer and Lovallo (1999) posted on NYU Courses. We...
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A country which decides to join a Monetary Union expects a decreased ability to stabilize its output around the full employment level and keep
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The equation for the demand and supply curves for writing paper in Belgium are: Demand: Qd = 35 -0.5P Supply:
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Explain how a weakened banking sector (extremely low bank capital), rising foreign interest rates (The Federal Reserve has raised interest rates 17...
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100 words min, no cut and paste, cite refs Do you think that because people are moving to more cities and suburbs that they become more disconnected
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Allocation I: x 1 = 50, y 1 = 60, x 2 = 75, y 2 = 60 20. What is the value of MRS 1 ? 21. What is the value of MRS 2 ? 22. Is I pareto efficient (EF)...
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There is a classic story of how students need to test the feasibility study of their MBA decision which later can be fully addressed in company's...
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Suppose that a business incurred implicit costs of $200,000 and explicit costs of $1 million in a specific year.
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56F Use the following graph showing a consumer's budget line and some indifference curves to answer the following questions. The consumer's income is...
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There is an ongoing debate about whether free trade is beneficial for the global economy. Choose whether you support free trade or if you prefer...
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"For you and your neighbour to specialise and trade, it must be that the price at which you or your neighbours sells the product is higher than its...
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1. Externalities - Definition and examplesAn externality arises when a firm or person engages in an activity that affects the well-being of a third
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Case Study: From Subsidies: Subsidy programs are likely to have a number of secondary effects in addition to the direct effect on dairy prices.
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1.What is job rationing and how does it relate to unemployment? Explain what factors can lead to job rationing? 2.What does a productivity curve
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Consider an economy characterized by the following equations AE = 10 + 0.75Y - 0.5P AS:
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You are given the following series of one-year interest rates: 3 %, 5 %, 13 %, 15 % Assuming that the expectations theory.
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A Bacon Factory is located in a small town.Also in the town is a Water Park.
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Suppose four firms engage in price competition in a Bertrand setting where the lowest- price firm will capture the entire market. The firms differ...
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25.4 A monopolist has a cost function given by c(y) = y^2 and faces a demand curve given by P(y) = 120 y. If you put a lump sum tax of $100 on this
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Recommend, based on your above findings, whether the strategic plan can be achieved and provide support.
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Suppose that Millie's is 1 out of 1,000 firms in the industry.
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What is Nokia's Business Strategy and Expansion Strategy in India?
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A recent editorial advocated a cut in the payroll tax, with the argument that such a tax cut would "stimulate employment, since employers shoulder...
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Give two examples of events that could shift the demand for labor, and explain why they do so. 2 Give two examples of events that could shift the...
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Suppose that the demand curve for a particular commodity is Qd = a- bP and the supply curve for this commodity is Qs = c+dP. The parameters a,b,c and...
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Suppose that in 2001 the price of roses was $45 per dozen. In 2002, the price of roses was still $45 per dozen, but total sales increased.
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In the aggregate expenditures model, if aggregate expenditures are higher than real GDP: there are unplanned decreases in inventories.actual real...
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2. L25 maria] ]|' Harry has 5:19 tn spend an nun gmds-e-bned and ne'ee. The tetal benet I'rnrn each gnu-d Isuen below In the table. E-bnbks nest $5
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You have just received seed money for a new e-commerce business and you want to hire a dozen people with a high level of creative potential.
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given z=f(x,y)=x 2 +y 2 /2, g(t)=f(x 0 +th, y 0 +tk), h and k are arbitrary. suppose(x 0, y 0 ) is a point where f(x,y) is minimized.
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Imagine Livia values a car at $30k and Sunrise Chevrolet values the same car at $20k.
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Consider the following demand and supply equations for oil market in the US. Answer the next 3 questions according to these equations. Demand p=580 -...
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26. Shannon bakes cookies and Justin grows vegetables. In which of the following cases is it impossible for both Shannon and Justin to benefit from
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I NEED THIS REWORDED IN YOUR OWN WORDS PLEASE I NEED BY 10PM EST TONIGHT!!! Any numbers remain the same just words need to be changed I will attach document also to make easier.6. a. The productio
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Calculation: Your Company plans to transport 20 horses to a racetrack in Denver. You know that it takes 12 hours to drive directly from Phoenix to...
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