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The argument of Adam Smith was that some nations were richer than others not because of innate differences across races but because of economic and historical factors. Draw your forethought on this.
Define the two phrases/terms and then explain the relationship (similar and difference) between them. (!!!!intermediate economic!!!!)
What price and quantity will the monopolist produce at if marginal cost is a constant$4 ? Compute the dead weight loss from having the monopolist produce, rather than the perfect competitor
The own price elasticity of demand for Kodak film was -2.0 and the market elasticity of demand was -1.75. Suppose that in the 1990s, the average retail price of a roll of Kodak film was $6.95 and that Kodak's marginal cost was $3.475 per roll.
Explain the concept of opportunity cost. Provide a simple example for an economy and a simple example for an individual. How is it related to scarce resources? Explain scarce resources for an economy and for individuals.
choosing a communication mediumintroductionmany companies are using computer mediated communication for training and
1. Using your understanding of tax incidence explain why some states do not charge sales tax for basic foods. 2. Explain how the elasticity of demand influences tax revenues? 3. Define progressive, regressive and proportional taxes and give an exampl..
The Federal Reserve may buy government securities in open market operations in order to increase the money supply and encourage economic growth?
Suppose that the economy's total resources are 320hours of labor and 20 acres of land. Use a diagram and some algebrato determine the allocation of resources. (It doesn'tnecessarily have to be to scale.)
We have studied the CLI for both Windows and Linux. The real power in using commands comes with scripting. What are some repetitive tasks you can think of that could be done more easily with a well-written script?
Evaluate the assumptions and conclusions of Arrow's Impossibility Theorem and provide an assessment of both the result and its implications for social decision making
Find out an output which maximizes the total revenue. Calculate the price elasticity of demand at this output.
Analyzing many indicators of the macroeconomic situations in an economy, which includes interest rate, income, CPI, inventory levels, wage, consumer confidence and unemployment.
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