All stratified societies have groups of individuals

Assignment Help Business Economics
Reference no: EM13998739

All stratified societies have groups of individuals that do not produce, but still receive a ‘cut’ of the social surplus. How does Diamond argue that these ‘privileged’ individuals manage to convince productive members of society to give them some of their surplus?

Reference no: EM13998739

Questions Cloud

Explain whether the resource cost is explicit or implicit : For each one of the costs below, explain whether the resource cost is explicit or implicit, and give the annual opportunity cost for each one. Assume the owner of the business can invest money and earn 10 percent annually. A computer server to run th..
Initially costs and salvage value : Car A initially costs $500 more than Car B, but it consumes 0.04 gallon/mile versus 0.05 gallon/mile for B. Both vehicles last 8 years, and B's salvage value is $100 smaller than A's. Fuel costs $1.70 per gallon. Other things being equal, which optio..
Identify whether demand is elastic and inelastic : Suppose that the total revenue received by a company selling basketballs is $840 when the price is set at $30 per basketball and $840 when the price is set at $20 per basketball. Without using the midpoint formula, identify whether demand is elastic,..
The relative priceline-indi?erence curves-trade triangles : Suppose there are two goods being produced in the economy: robots and wheat. Robots are a capital intensive good and wheat is a labor intensive good. Suppose that there are two countries: France and Brazil. Be sure to include (1) the production possi..
All stratified societies have groups of individuals : All stratified societies have groups of individuals that do not produce, but still receive a ‘cut’ of the social surplus. How does Diamond argue that these ‘privileged’ individuals manage to convince productive members of society to give them some of..
The instant after it pays out current profits as dividends : A firm's current profits are $700,000. These profits are expected to grow indefinitely at a constant annual rate of 3 percent. If the firm's opportunity cost of funds is 5 percent, determine the value of the firm: The instant before it pays out curre..
Committee on reforming taxes on telecommunication services : You are an assistant to a senator who chairs an ad hoc committee on reforming taxes on telecommunication services. Based on your research AT&T spends $15 million on related paper work and compliance costs. Depending on the locale, telecom taxes can a..
Location of a countrys production possibilities curve : Draw ppf how each of the following events effects the location of a country's production possibilities curve a. the quality of education increases b. number of unemployed workers increased c. new technologies improves the efficiency of extracting cop..
Compute equilibrium relative price of fish under free trade : Consider the following model of trade between Iceland and Finland. There are two goods: Fish and Wheat. The only factor of production is labor. Each Icelandic worker can produce 1 unit of fish or 1 unit of wheat per unit of time, while each Finnish w..

Reviews

Write a Review

Business Economics Questions & Answers

  Illustrate what happens to the price received by sellers

Solve for the new equilibrium. Illustrate what happens to the price received by sellers, the price paid by buyers, and the quantity sold.

  Definitions of management quoted from authors

Similarities in the definitions of management quoted from authors of management textbooks

  Explain why is it important to take into account changes

Explain why is it important to take into account changes in the participation rate and in the ratio of full to part time employment in assessing the economic and social impact of changes in the unemployment rate.

  Create a payoff matrix and dominant strategy

Dan and Neil are playing Settlers of Catan. Dan has rolled a seven and just put the stopper on a Field which touches one of Neil’s Settlements. Since Dan is a real jerk store, he decides to steal one of Neil’s two cards. Neil has a Grain and a Wool r..

  During spring break-elasticity of demand for trip

During spring break, students have an elasticity of demand for a trip to Florida of -3. How much should an airline charge students for a ticket if the price it charges the general public is $360? Assume the general public has an elasticity of -2.

  Compete for market share via quantity competition

Assume 3 firms, A,B, and C, compete for market share via quantity competition. Assume all firms have the same constant marginal costs cA = cB = cC = 1 and that market demand is given by D(p) = 101 minus p. Solve for the unique N.E.

  Produces engines by teams of workers using assembly machines

Suppose you manage a plant that produces engines by teams of workers using assembly machines. The technology is summarized by the production function Q = 4KL where Q is the number of engines produced per week, K is the number of assembling machines, ..

  Which effect of this change in yd in c and aggregate

Suppose that the government increases taxes by $150 billion. Suppose that the MPC is .80 and that there is no crowding out effect. Which is the effect of this change in Yd, in C and aggregate demand?

  Identify all nash equilibria for the road trip game

Consider a group of 10 friends who are considering going on a road trip. In determining whether or not to go, each friend considers both how much they would enjoy the trip and how much it will cost them. The cost of the trip will be $500 total, and w..

  Moral hazard is the degree of risk

The moral hazard is the degree of risk that the insurance company is taking in order to provide coverage on the individual.

  Draw donnas budget line

Donna buys goods X and Y. She can just afford the bundle X = 6 and Y = 11. She can also afford X = 12 and Y= 8. Each of these bundles exhausts her income. Draw Donna’s budget line. What is the ratio of the price of x to the price of y?

  What would be the effect on the wage rate women receive

Suppose the government were to subsidize the wages of all women in the population by paying their employers 50 cents for every hour they worked. What would be the effect on the wage rate women receive? What would be the effect on the net wage employe..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd