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Consider the situation where students must attend the school in the zone where they live regardless of quality. Compare that to a situation where students and parents choose which school to attend and the government funding follows them. Which arrangement do you think will best serve the interests of students? Explain.
You are a perfectly competitive firm and P = $5 . Your cost function is: C(Y )= Y2 + Y + 4. What are your firm’s variable costs? Fixed costs? Write down your firm’s profit function. Write down the firms first order condition for profit maximization a..
Why does poverty remain so pervasive? What does it mean to be poor? Select at least 3 resources (readings, literature summaries, service learning experience, etc.) to support, contradict to the two questions or answer in 1 amd 2.
Social media has become a powerful tool for small business marketers looking to compete with larger firms. As beneficial as social media can be, firms must still use such tools strategically. Review the report on the current marketing environment at ..
Can you please elaborate on my in the monoply case the MR curve is below the market demand curve? Also, please elaborate on why the market supply curve is the same as the MC curve. Please include graphs to assist with explainations.
If the price in a market happens to be above equilibrium, there will be a ___ in the market, and the price will tend to ____
an across-the-board tax reduction in income tax rates or a package of tax-relief measures that would give every household a $200 tax rebate and allow them to deduct the interest they pay on credit card purchases?
Consider the following production function Y = F (K, L, H) = K^1/2 L^1/4 H^1/4, where Y is total output, K is physical capital, H is human capital and L is labor. Show that the function has constant returns to scale.
Arian is about to borrow $2,000 from his uncle. He has an option to repay the loan at the end of year 5 with 7.55% simple interest per year or with 8.4% interest per year, compounded every 6 months. What is the difference of the total interest paid o..
What ideas from Marx remain relevant to contemporary society and what ideas must be discarded in the wake of the collapse of the Soviet Union and the Marxist societies of Eastern Europe? What might Weber have said about the last century of global his..
Since the end of the Great Recession in 2009 the number of new households established has increased, it became increasingly difficult to obtain a mortgage loan to purchase a house, and the economy has been expanding increasing household income. How i..
A noted economist recently stated, “This last recession, that ended in November 2010, had lasted 32 months, which is almost 4 times longer than the average recession (which is 9 months), and had the highest unemployment rate (10.6%) we have seen in t..
Classify the following goods by category (private, public, common, monopoly) and explain why:
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