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With supply and demand curves, do you have to have price? Or can you have amount of people instead of price, for a free product or service? Eg: amount of people wanting free childcare, where there is never a price? But a limited supply.
Which of the following is the correct 95% confidence interval for p^, the proportion of all U.S. adults who use organic foods in preparing meals?
Suppose that there is a market for Christian books in California. A series of strong earthquakes occurred in 2014, causing landslides, fires, building and roadway collapse. At the same time, a lot of people died or lost their homes. Discuss this usin..
Why do medications cost so high in the U.S. compared to other countries? Should individuals be allowed to purchase medications over the Internet? Why/Why not? Should there be a cap on the mark-up that hospitals or other healthcare facilities charge f..
Calculate the firm’s maximized profit, and the revenue and cost that produce that profit. (h) Calculate the elasticity of demand at the profit-maximizing point. (i) What is the firm’s markup at the profit-maximizing point? Confirm that this markup ha..
Economists believe that markets generally are “efficient.” What does this mean and why do they believe it? Use Consumer Surplus, Producer Surplus, and Total Consumer Surplus to fully answer this question.
Is it possible for a country to save "too much"? question is based off the country's output per worker, capital per worker, and consumption per worker.
Suppose a country has an investment opportunity that costs them 10 units of current consumption for an increase in 20 units of future consumption. The current and given real rate of interest is 10% (0.10). GDP, without the investment, in period 0 and..
Discuss the e?ciency properties of the following liability rules, by predicting the outcome under the rule. Also, discuss who bears the accident cost under the predicted outcome. Assume unilateral care accident contexts, i.e., only the potential inju..
A. What strategies can you use to ensure ease of reading in your emails and other digital communications? B. What strategies can you use to show respect for the time of others? C. Explain the neutrality effect and negativity effect in digital communi..
If a manager who does not own a company is allowed to make decisions for the company, then:
In the aggregate expenditures model, it is assumed that:
Suppose that a monopoly has fixed costs of $1000 and marginal cost of $100. They face a straight market demand curve that runs from $500 on the price axis to 1000 on the quantity axis. Plot their demand, marginal revenue, marginal cost and average..
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