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Marxian economic theory criticizes capitalism systemically for causing both (a) inequality of income and wealth and (b) instability or cycles/crises of macroeconomic levels of employment, income and social welfare. Explain how the basic Marxian analysis of capitalism supports this criticism.
What is the Deadweight loss cause by the insurance policy? What happens to the size of teh deadweight loss if it turn out that the marginal external benefit of visiting the doctor is $50?
Explain how economies of scale are particularly important to a monopolist, be they real (in reality, there are very few examples of monopoly in the real economy
Let's try to define the attributes of a good follower. What does it take to be a good follower? How can we support the leader in our team? What are some ways we can avoid hindering leadership?
For each of the following characteristics, say whether it describes a perfectly competitive firm, a monopolistically competitive firm, both, or neither.
Percy’s “The Loss of the Creature” provides a rather provocative way to end a semester of reading, writing and thinking about education. Write a 4-5 page essay in which you consider Percy’s ideas as they apply to a student living in a developed cultu..
Find an article in the financial press (Wall Street Journal, Fortune, BusinessWeek, etc.) on a proposed change in the federal tax code.
The Trump administration has asked you to develop a new trade agreement between the U.S. and Asian countries. In order to maximize economic benefits.
If I produce 20,001 copies my total cost will rise to $750.02, therefore my marginal cost of producing copies must be increasing.” Draw a graph to illustrate your answer.
Consider a static (one-period), closed economy with one representative consumer, one representative firm, and a government. The level of capital K and government expenditures G in the economy are both fixed exogenously. Formally define a competitive ..
In the land of free trade, the public does not view all industries as equal. Do you believe that is ethical? Do you believe that some industries are unfairly targeted? Become an advocate for either the consumer or the industry. Prepare an argument ex..
If B accepts, the division is implemented. If B rejects, each player obtains their outside option. Assume that if a player is indifferent between a proposed dividsion and his or her outside option, then the player accepts the division.
Show (with a graph) and explain the strike and resulting negotiations for an inclusive labor union in a monopsony situation. Also, show (with a graph) and explain how an exclusive union increases wages
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