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Question 1. Political corruption is epidemic in Russia today. What effect does this have on the Russian economy? Compare and contrast bureaus and business firms. Your response should be at least 75 All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. Question 2. Suppose seven people are trying to decide whether to get a pizza with pepperoni, a pizza with sausage and pepperoni, or a pizza with everything on it. Four people want everything, one wants pepperoni and sausage, and two want pepperoni only. Assume that each person prefers a pizza closer to his or her first choice to a pizza that is unlike the first choice. What is the preference of the median voter? Which pizza will be selected if the majority rules? Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. Question 3. What is market power and what are its effects? Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. Question 4. What dilemma faces regulators trying to regulate natural monopolies? What hampered enforcement of the Sherman Act? Your response should be at least 75 words in length. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. Question 5. How does social regulation differ from economic regulation? Your response should be at least 75 words in length.. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations. The textbook is called: McEachern, W. A. (2012). ECON Micro 3 (3rd ed.). Mason, OH: South-Western.
consider a firm that faces an upward sloping supply curve.since the firm faces an upward sloping curve it will not pick
Describe why the profits of such firms tend to increase when there is the excess supply of the inputs they employ in their production process.
a firm has two divisions each of which has its own manager. managers of these divisions are paid according to their
Consider a household that possesses $100,000 worth of values (computers, electronics, jewelry, etc). This household faces a 0.10 probability of a burglary. If a burglary were to occur, the household would have to spend $20,000 to replace the stole..
Jessica's preferences can be represented by a utility function: U(x, y) = max(x, y). Consider a bundle { x = 10, y = 3 }. Draw Jessica's indifference curve containing this bundle. Explain why her preferences are "non-convex"
produce a report based on a scenario covering a range of learning outcomes. demonstrate course concepts and ideas
Outline the human capital and signalling approaches
thirty-five fourth-grade students were asked the traditional question what do you want to be when you grow up? the
ntroduction of the Verson Stamping Machine helped firms in the automobile industry: shift their AVC, ATC, and MC curves upward. achieve greater economies of scale. reach their minimum efficient scale at a lower level of production.
what comparative and absolute advantages does the us have over madagascar and syria. what comparative and absolute
compare menas socio-economic and political structures with those prevailing in other regions of the world during the
Find out the total revenue (TR) and total profits in terms of Q. At what level of output (Q) are total profits maximized? What price will be charged? What are total profits at this output level?
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