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With higher fuel costs, airlines raise their average fare from $0.50 to $1.50 per passenger mile and the number of passenger miles decreases from 2.5 million a day to 1.5 million a day.
Suppose the price of good 1 is $2, and the price of good 2 is $1. Derive Pete’s demand function for good 1 (as a function of income). Is good 1 normal for Pete? How about good 2? Plot the Engel curve for goods 1 and 2 (with income on the horizontal a..
Discuss - Deficit spending paves the road to ruin. Explain how much of the national debt is held by foreigners.
Which of the following is generally considered an element of due process in a case involving possible termination of a physician's medical staff privileges?
Can the bad actually be good? Consider the business cycle and its four phases. Often times we anguish over the recessionary part of the cycle – there is increasing unemployment, bankruptcies, incomes and profits are dropping, production declining, et..
Gene has the following utility function: U = XY + 2Y, the Px = $4, the Py = $1 and I=$6. What is the slope of the budget constraint? Find Gene’s MRSx,y. Is the MRSx,y increasing, decreasing, or constant with respect to X?
determine the amount at time 0(now) equivalent to the cost of owning and operating the machine for the next five year period. It is anticipated that the machine can be sold for $1000 at the end of the five year period. Use an interest rate of 10%.
We’ve all heard the cliché that “nice guys finish last.” Is this true in marketing? Do firms that use good ethical practices have an advantage or disadvantage? Do you think consumers will pay a few cents more for non-polluting soap or environmentally..
How is it that higher tax rate can increase tax revenue in some cases, but a higher tax rate can decrease tax revenue in other cases? Relate this to the price elasticity of demand. (Excise Taxes)
Suppose there are two inputs in the production function labor and capital and that this firm has a strange technology: the two inputs are perfect substitutes. The existing technology permits one machine to do the work of three people. The firm wants ..
Which of the following statutes is not related to healthcare fraud? Mocan and Gittings argue that
q1. suppose that i make 15 per hour and you make 20 per hour and we both like to eat hamburgers that cost 5 each.
This statistic elucidates how that government antimonopoly strategy has been applied more harshly to the textile industry than to the automobile business.
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