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It is interesting to note that technical improvements in agriculture or manufacturing have generally been slow to arise in countries that have relied on slave labor. Can you think of a reason why this might be so?
Show that licensing can be beneficial for firm 1 in this case and therefore increase innovation incentives. Explain why the results differ between the two cases.
This chapter focused on how interest rates affect savers. If an individual is a net debtor (that is, she owes money), what is the income effect of an increase in interest rates? Will an increase in the interest rates that she has to pay induce her..
Consider a monopolistically competitive market with N firms. Each firm's business opportunities are described by the following equations: Demand: Q=100/N-P Marginal Revenue: MR=100/N-2Q Total cost: TC=50+Q(squared) Marginal Cost: MC=2Q
Is it legitimate to impose higher safety standards on imported goods than exist in the foreign country where the goods were produced?
Given the following demand curve ln(Qt) = b0 + b1ln(Pt) + b2ln(Yt) + ut, Express the price elasticity of demand in terms of the coefficients in (1)
If a patient's true ALT concentration is 35 U/l, what is the probability that his specimen will be flagged as "unusually high"?
Assume the following values for Figures 5.4a and 5.4b. Q1=20 bags. Q2=15 bags. Q3=27 bags. The market equilibrium price is $45 per beg. The price at a is $85 per bag. The price at c is $5 a bag. The price at f is $59 per bag.
You-Will-Never-Pay-It-Off Loan Company lends you $150 on Monday, and you have to pay $250 after 15 days. If you kept the money for a year on the same terms, how much will you owe at the end of the year. Assume the company compounds money on a 15-day ..
The answer from bond supply and demand analysis is consistent with the answer from the liquidity preference framework.
A firm produces according to the following production function: Q = K^.5L^.5 where Q = units of output, K = units of capital, and L = units of labor. Suppose that in the short run K = 100. Moreover, wage of labor is W = 5 and price of the product ..
design two packages for the second-degree price discrimination case so that the first package has quantity 8 for the high demand and the second one has quantity 6 for the lower demand such that the low demand group has consumer surplus at least $5..
university bank a monopoly bans has the following items on its balance sheet, an actual reserve = 1 billion dollars, Demand deposits = 7 billion dollars, reserve requirement is =10. What is the bank's required reserve
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