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Power Distribution
How is power distributed in the U.S. political system? How does the U.S. political system reflect the distribution of power? List and discuss six ways in which urban planning can be political in nature.
Suppose Mike and Johnson produce two products- hamburgers and T-shirts. Mike produces 10 hamburgers or 3 T-shirts a day and Johnson produces 7 hamburgers or 4 T-shirts. Assuming they can devote time in making either hamburgers or T-shirts. Draw the p..
Describe the extent of economic integration, specifically mentioning the country’s membership(s) within regional trade agreements and the benefits they bring to the country.
Consider a market structure where there is a monopoly in input market (upstream monopolist) and also there is a monopoly in product market (downstream monopoly). If each firm maximizes its profit then there is double mark up. Show that if these two f..
Purchasing power parity and the law of one price are two related concepts. Explain what is meant by the law of one price. Also explain why a person or nation could profit if this law does not hold. Offer three reasons why the law of one price might n..
You're sitting at the Starbucks near campus when Dr. Lamascus, who is sitting at the table next to you, throws his magazine down on the table. The headline of the article he was just reading states, "The Future of Higher Education: Explain, how you s..
Elucidate how scarcity of resources influences this market and describe the choices stakeholders are forced to make.
Assume to latest discoveries in biochemistry significantly lengthen our life expectancy. Illustrate what is the impact on the educational attainment of workers
Consider this natural extension of stripped down poker game we examined in class. Initially each player puts a dollar in the pot. Then each player is dealt; each player’s card is equally likely to be high or low, independently of the other player’s c..
A knitting shop orders yam from three suppliers in Toronto, Montreal, and Ottawa. One month the shop ordered a total of 114 units of yam from these suppliers. The delivery costs were $79, $45, and $63 per unit for the orders from Toronto, Montreal, a..
insist that this represents a rightward shift of aggregate demand curve. Who is right. Explain.
Classify each of the following scenarios as an example of adverse selection or moral hazard. Be sure to support your answer! Nordstrom†TM s cannot predict who is going to be a good shoe salesperson.
Consider a market where demand is d:p=24-Q and supply is s:p=2+Q. impose a specific tax t= $2 on each unit sold in the above market.
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